Politics and the Fed
AbstractIn the standard policy model, a policymaker optimizes the welfare of a representative agent. In practice, policies are chosen in a political process by agents elected by voters. Drawing on evidence from my two-volume history of the Federal Reserve, the paper reports many examples of decisions influenced by political pressures. The history shows that the meaning of the independence of the Federal Reserve changed over time reflecting political influences.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Journal of Monetary Economics.
Volume (Year): 58 (2011)
Issue (Month): 1 (January)
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/505566
Other versions of this item:
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Enkelmann, Sören & Berlemann, Michael & Kuhlenkasper, Torben, 2013. "Unraveling the Relationship between Presidential Approval and the Economy," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79836, Verein für Socialpolitik / German Economic Association.
- Michael Berlemann & Soeren Enkelmann & Torben Kuhlenkasper, 2013. "Unraveling the Relationship between Presidential Approval and the Economy - A Multi-Dimensional Semi-Parametric Approach," Working Paper Series in Economics 273, University of Lüneburg, Institute of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If references are entirely missing, you can add them using this form.