Monetary and Fiscal Actions: A Test of Their Relative Importance in Economic Stabilization
Leonall C. Andersen’s best-known contributions, both to the economics profession at large and to the reputation of the Federal Reserve Bank of St. Louis in monetary policy matters, appeared in two articles in this Review. “Monetary and Fiscal Actions: A Test of Their Relative Importance in Economic Stabilization,” co-authored with Jerry L. Jordan, was published in November 1968; it gave rise both to the well-known Andersen-Jordan (or St. Louis) equation and to the unending controversy about its methodology and results.