Belongia | Monetary Policy on the 75th Anniversary of the Federal Reserve System | Buch |

Belongia Monetary Policy on the 75th Anniversary of the Federal Reserve System

Proceedings of the Fourteenth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis

Nachdruck d. Ausg. v. 1990, 278 Seiten, Gebunden, HC runder Rücken kaschiert, Format (B × H): 160 mm x 241 mm, Gewicht: 1320 g
ISBN: 978-0-7923-9124-1
Verlag: Springer Netherlands

Belongia Monetary Policy on the 75th Anniversary of the Federal Reserve System

When the 12 District Banks of the Federal Reserve System opened their doors for business on November 16, 1914, few observers could have foreseen the Fed's present role as a major, if not dominant, player in U. S. and world economic policymaking. After all, two previous attempts to create a central bank in this country had ended in failure. Moreover, much of the economic theory and institutional structure that have given rise to monetary policy's influence in recent years were not yet in place. Indeed, it would take the Fed more than 20 years to learn (by accident!) the power of open market operations. Clearly, the modern Federal Reserve System has found itself with powers and responsibilities that were not envisioned by its founders. These proceedings from a conference held at the Federal Reserve Bank of St. Louis on October 19-20, 1989, examine U. S. monetary policy from a variety of perspectives: a historical review of how it has affected aggregate economic performance; a positive analysis of why the Federal Reserve has chosen particular policy strategies; a review of normative arguments about what the Fed should pursue as its policy objective; a critique of how the Fed's "output"-the flow of monetary services in the U. S. economy-is measured; and, finally, a debate over the Fed's ability to influence real economic activity by changing the nominal quantity of money in circulation.




Weitere Infos & Material

Session I.- 1 The Fed at Seventy-Five.- Commentary: Has the Fed Made a Difference? A Comparison of Pre- and Post-1914 Conditions.- Commentary: The Behavior of Foreign Central Banks: Comparisons and Contrasts with Fed Performance.- Commentary: The Federal Reserve Policy Process.- Reply.- Session II.- 2 Why Does the Fed Smooth Interest Rates?.- Commentary.- 3 Precommitment to Rules in Monetary Policy.- Commentary.- Session III.- 4 Monitoring Monetary Aggregates Under Risk Aversion.- Commentary: Monetary Aggregates and Their Uses.- Reply.- 5 Money and Business Cycles: A Real Business Cycle Interpretation.- Commentary.

Ihre Fragen, Wünsche oder Anmerkungen

Ihre Nachricht*
Wie möchten Sie kontaktiert werden?
Ihre E-Mail-Adresse*
Lediglich mit * gekennzeichnete Felder sind Pflichtfelder.
Wenn Sie die im Kontaktformular eingegebenen Daten durch Klick auf den nachfolgenden Button übersenden, erklären Sie sich damit einverstanden, dass wir Ihr Angaben für die Beantwortung Ihrer Anfrage verwenden. Selbstverständlich werden Ihre Daten vertraulich behandelt und nicht an Dritte weitergegeben. Sie können der Verwendung Ihrer Daten jederzeit widersprechen. Das Datenhandling bei Sack Fachmedien erklären wir Ihnen in unserer Datenschutzerklärung.