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Financial and Monetary Policy Studies

Central Bankers, Bureaucratic Incentives, and Monetary Policy

Editors: Froedge Toma, E., Toma, M. (Eds.)

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  • ISBN 978-94-009-4432-9
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Hardcover $209.00
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  • ISBN 978-94-010-8473-4
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About this book

By now it has become obvious that Federal Reserve actions have an immense impact on the functioning of our economy. As a result, a great deal of research has been done on the Fed and on monetary policy. Much of this work is normative; it tells us what the Fed should do. Positive work on the Fed has usually tried to elucidate particular Fed policies, and has not tried to present a theory of why the Fed behaves the way it does. The dominant theory of Fed behavior is that the Fed does what it believes to be best for the public welfare. This theory - usually left implicit - is so simple, and seemingly so obviously correct, that it has received widespread credence without extended discussion or tests. When thinking about govern­ ment in general many observers doubt that it nearly always acts in the public interest. However, they ascribe this unfortunate state of affairs mainly to political pressures. Since the Fed is relatively removed from such pressures, the public interest theory of government seems more applicable to it.

Reviews

`The papers are well written and are of high quality: the studies are lucid, the numerical work is well documented, and some of the papers are quite provocative. The book will be of interest to academicians as well as business executives.'
Kashi Nath Tiwari, The Southern Economic Journal, Jan. 1989.

Table of contents (13 chapters)

  • Central Bankers, Bureaucratic Incentives, and Monetary Policy: an Introduction

    Toma, Eugenia Froedge (et al.)

    Pages 1-7

  • Monetary Policy: Theory and Practice

    Friedman, Milton

    Pages 11-35

  • Inflationary Bias of the Federal Reserve System

    Toma, Mark

    Pages 37-66

  • Preliminary Evidence on the Use of Inputs by the Federal Reserve System

    Shughart, William F. (et al.)

    Pages 67-90

  • The Structure and Use of Inputs by the Federal Reserve

    Mounts, Wm Stewart (et al.)

    Pages 91-104

Buy this book

eBook $159.00
price for USA (gross)
  • ISBN 978-94-009-4432-9
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $209.00
price for USA
  • ISBN 978-90-247-3366-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $209.00
price for USA
  • ISBN 978-94-010-8473-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Central Bankers, Bureaucratic Incentives, and Monetary Policy
Editors
  • E. Froedge Toma
  • M. Toma
Series Title
Financial and Monetary Policy Studies
Series Volume
13
Copyright
1986
Publisher
Springer Netherlands
Copyright Holder
Martinus Nijhoff Publishers, Dordrecht
eBook ISBN
978-94-009-4432-9
DOI
10.1007/978-94-009-4432-9
Hardcover ISBN
978-90-247-3366-8
Softcover ISBN
978-94-010-8473-4
Series ISSN
0921-8580
Edition Number
1
Number of Pages
XIV, 253
Topics