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The monetary policy of the Federal Reserve : a history
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ISBN: 9780521881326 9780511754173 9780521707596 0521881323 0521707595 1107184959 9786611254926 0511387261 0511386230 0511382596 0511754175 1281254924 0511384408 051138825X 9780511388255 9780511380426 0511380429 9780511384400 9781107184954 9781281254924 6611254927 9780511387265 9780511386237 9780511382598 Year: 2008 Volume: *4 Publisher: Cambridge : Cambridge University Press,

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Details the evolution of the monetary standard from the start of the Federal Reserve through the end of the Greenspan era. The book places that evolution in the context of the intellectual and political environment of the time. By understanding the fitful process of replacing a gold standard with a paper money standard, the conduct of monetary policy becomes a series of experiments useful for understanding the fundamental issues concerning money and prices. How did the recurrent monetary instability of the 20th century relate to the economic instability and to the associated political and social turbulence? After the detour in policy represented by FOMC chairmen Arthur Burns and G. William Miller, Paul Volcker and Alan Greenspan established the monetary standard originally foreshadowed by William McChesney Martin, who became chairman in 1951. The Monetary Policy of the Federal Reserve explains in a straightforward way the emergence and nature of the modern, inflation-targeting central bank.


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The great recession : market failure or policy failure?
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ISBN: 9781139336840 1139336843 9781139338585 1139338587 9781139337717 1139337718 9781139340168 1139340166 9780511997563 0511997566 9786613571519 6613571512 9781107011885 1107011884 113934174X 9781139341745 1139334298 1107228948 1280393599 1107459605 Year: 2012 Publisher: Cambridge : Cambridge University Press,

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Since publication of Hetzel's The Monetary Policy of the Federal Reserve (Cambridge University Press, 2008), the intellectual consensus that had characterized macroeconomics has disappeared. That consensus emphasized efficient markets, rational expectations and the efficacy of the price system in assuring macroeconomic stability. The 2008-9 recession not only destroyed the professional consensus about the kinds of models required to understand cyclical fluctuations but also revived the credit-cycle or asset-bubble explanations of recession that dominated thinking in the nineteenth century and the first half of the twentieth century. These 'market-disorder' views emphasize excessive risk taking in financial markets and the need for government regulation. The present book argues for the alternative 'monetary-disorder' view of recessions. A review of cyclical instability over the last two centuries places the 2008-9 recession in the monetary-disorder tradition, which focuses on the monetary instability created by central banks rather than on a boom-bust cycle in financial markets.


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The Federal Reserve : a new history
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ISBN: 0226821668 Year: 2022 Publisher: Chicago, Illinois : University of Chicago Press,

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An illuminating history of the Fed from its founding through the tumult of 2020. In The Federal Reserve: A New History, Robert L. Hetzel draws on more than forty years of experience as an economist in the central bank to trace the influences of the Fed on the American economy. Comparing periods in which the Fed stabilized the economy to those when it did the opposite, Hetzel tells the story of a century-long pursuit of monetary rules capable of providing for economic stability. Recast through this lens and enriched with archival materials, Hetzel's sweeping history offers a new understanding of the bank's watershed moments since 1913. This includes critical accounts of the Great Depression, the Great Inflation, and the Great Recession-including how these disastrous events could have been avoided. A critical volume for a critical moment in financial history, The Federal Reserve it is an expert, sweeping account that promises to recast our understanding of the central bank in its second century.


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The relevance of Adam Smith
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Year: 1981 Publisher: Richmond Federal reserve bank of Richmond

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The Federal Reserve : A New History.
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ISBN: 9780226821665 Year: 2023 Publisher: Chicago University of Chicago Press

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The relevance of Adam Smith
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Year: 1977 Publisher: Richmond Federal reserve bank of Richmond

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The relevance of Adam Smith
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Year: 1982 Publisher: Richmond Federal reserve bank of Richmond

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The monetary policy of the Federal Reserve : a history.
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ISBN: 9780511387265 Year: 2008 Publisher: New York Cambridge University Press

School management by wandering around
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ISBN: 0877626405 Year: 1990 Publisher: Lancaster Technomic

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