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Economics instruction and the brave new world of monetary policy

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  • John C. Williams

Abstract

Economics education faces a challenge in keeping up with the changes that have swept through monetary policy in recent decades. Many central banking innovations, such as interest on reserves and large-scale asset purchases, aren't adequately treated in standard textbooks. The letter is adapted from a presentation made by the president and CEO of the Federal Reserve Bank of San Francisco to the AEA National Conference on Teaching Economics and Research in Economic Education in San Francisco on June 1, 2011.

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File URL: http://www.frbsf.org/publications/economics/letter/2011/el2011-17.html
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File URL: http://www.frbsf.org/publications/economics/letter/2011/el2011-17.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of San Francisco in its journal FRBSF Economic Letter.

Volume (Year): (2011)
Issue (Month): june6 ()
Pages:

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Handle: RePEc:fip:fedfel:y:2011:i:june6:n:2011-17

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Keywords: Economics - Study and teaching ; Monetary policy;

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  1. Antoine Martin & James McAndrews & David Skeie, 2011. "A note on bank lending in times of large bank reserves," Staff Reports 497, Federal Reserve Bank of New York.
  2. Hess Chung & Jean-Philippe Laforte & David Reifschneider & John C. Williams, 2011. "Estimating the macroeconomic effects of the Fed’s asset purchases," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue jan31.
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