A postwar history of the rules vs discretion debate
DOI:
https://doi.org/10.13133/2037-3643/10828Keywords:
Rule vs discretion, post-war debate, FriedmanAbstract
The work reviews the post-war history of the rules vs discretion debate. The focus is principally on theoretical developments which came to have a bearing on the debate. With the central figure of the debate being, without a doubt, M. Friedman, much of the huge literature centres around arguments first raised by him. Hence, special attention is paid to his contributions.
JEL: B22
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