Review of Allan H. Meltzer's A history of the Federal Reserve, Volume 2, University of Chicago Press, 2009
AbstractThis is a review of Allan Meltzer's "A History of the Federal Reserve, Volume 2." By carefully reviewing thousands of transcripts and records, Meltzer's history lets policy makers explain their decisions in their own words, and creatively weaves historical events into a single exceptionally clear story as he did in Volume 1. In this review I first examine the book's main theme--that discretionary monetary policy failed in the Great Depression (1929-1933), in the Great Inflation (1965-1980), and in the recent Great Recession (2007-2009)--and then consider its main conclusion--that monetary policy should be based on less discretion and more rule-like behavior.
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.
Bibliographic InfoArticle provided by Elsevier in its journal Journal of Monetary Economics.
Volume (Year): 58 (2011)
Issue (Month): 2 (March)
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/505566
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Kliem, Martin & Kriwoluzky, Alexander & Sarferaz, Samad, 2013.
"On the low-frequency relationship between public deficits and inflation,"
12/2013, Deutsche Bundesbank, Research Centre.
- Kriwoluzky, Alexander & Kliem, Martin & Sarferaz, Samad, 2013. "On the low-frequency relationship between public deficits and inflation," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 80000, Verein für Socialpolitik / German Economic Association.
If references are entirely missing, you can add them using this form.