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David Dodge's lecture at the University of Alberta reflects on the evolution of monetary policy over the past 40 years, emphasizing the shift towards prioritizing price stability as a primary objective. He discusses historical perspectives on monetary policy, its effectiveness, and the transition from Keynesian economics to modern frameworks like inflation targeting. The lecture highlights significant changes in policy implementation, increased transparency, and the importance of understanding macroeconomic dynamics. Dodge concludes by acknowledging ongoing challenges and the need for continuous improvement in monetary policy practices.

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