June 6, professor Burton A. Abrams, the University of Delaware Lerner School of Economics and Business, gave an academic report entitled "Is Money Neutral". Ma Ming, Director of the Department of Applied Economics hosted the lecture.

　　Professor Abrams firstly, from the perspective of the money multiplier theory, compared the impact of monetary policy on the money multiplier and money supply after the Great Depression of 1929-1933 and the U.S. economic crisis in 2008. With data, charts and a variety of ways, he made the audience to re-recognize the role played by the credit channel on monetary policy transmission.

Speaker Profile:
　　Professor Abrams received PhD in economics (banking and monetary policy track) from Ohio State University. A former U.S. Federal Trade Commission economist; research fellow at Stanford University's Hoover Institution. He published a number of papers in the Journal of Political Economy and other top journals of economics.