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

Editors: Belongia, M.T. (Ed.)

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About this book

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.

Table of contents (14 chapters)

Table of contents (14 chapters)

Buy this book

eBook $109.00
price for USA in USD (gross)
  • ISBN 978-94-011-3888-8
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $169.99
price for USA in USD
  • ISBN 978-0-7923-9124-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $149.99
price for USA in USD
  • ISBN 978-94-010-5731-8
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Monetary Policy on the 75th Anniversary of the Federal Reserve System
Book Subtitle
Proceedings of the Fourteenth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis
Editors
  • M.T. Belongia
Copyright
1991
Publisher
Springer Netherlands
Copyright Holder
Springer Science+Business Media New York
eBook ISBN
978-94-011-3888-8
DOI
10.1007/978-94-011-3888-8
Hardcover ISBN
978-0-7923-9124-1
Softcover ISBN
978-94-010-5731-8
Edition Number
1
Number of Pages
XVII, 278
Topics