Download or read book What Would Milton Friedman Say about Business Cycles? The Plucking Model View written by Julius Probst and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most macroeconomics assumes that economic activity fluctuates above and below a sustainable growth rate. A more accurate alternative view is Milton Friedman's plucking model, which posits that the economy either grows at its sustainable rate or experiences shortfalls rather than artificial expansions. The justification for the Fed's average inflation targeting framework is more consistent with the plucking model view.