Milton Friedman y Anna Jacobson Schwartz publicaron A Monetary History of the United States, 1867-1960. (Princeton: Princeton University Press (for the National Bureau of Economic Research), 1963) Esta obra fue reseñada por Hugh Rockoff, del Departmento de Economía de Rutgers University, en el marco de la iniciativa de la Eh.Net en 2000 para evaluar los libros historia económica publicados durante el siglo XX considerados de mayor
influencia por los usuarios y que fueran seleccionados por un comité
formado por Stanley Engerman (University of Rochester), Alan Heston (University
of Pennsylvania), Paul Hohenberg, chair (Rensselaer Polytechnic Institute), y
Mary Yeager (University of California-Los Angeles), junto a Robert Whaples (Wake
Forest University).
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Recientemente, y en el marco de la reunión “The Fiftieth Anniversary of Milton Friedman and Anna J. Schwartz, A Monetary History of the United States”, para la reunión anual de la American Economic Association, Rockoff ha presentado junto a M.Bordo "Not Just the Great Contraction: Friedman and Schwartz’s A Monetary History of the United States 1867 to 1960", en cuyo resumen leemos "A Monetary History of the United States 1867 to 1960 published in 1963 was written as part of an extensive NBER research project on Money and Business Cycles started in the 1950s. The project resulted in three more books and many important articles. A Monetary History was designed to provide historical evidence for the modern quantity theory of money. The principal lessons of the modern quantity theory of the long-run neutrality of money, the transitory effects of monetary policy on real economic activity, and the importance of stable money and of monetary rules have all been absorbed in modern macro models. A Monetary History , unlike the other books, has endured the test of time and has become a classic whose reputation has grown with age. It succeeded because it was based on narrative and not an explicit model. The narrative methodology pioneered by Friedman and Schwartz and the beautifully written story still captures the imaginations of new generations of economists."
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