How Richard Nixon Pressured Arthur Burns: Evidence from the Nixon Tapes
AbstractEvidence from the Nixon tapes, now available to researchers, shows that President Richard Nixon pressured the chairman of the Federal Reserve, Arthur Burns, to engage in expansionary monetary policies in the run up to the 1972 election. This paper quotes the relevant conversations from the Nixon tapes. Questions remain as to whether Burns followed an expansionary policy in an already-inflationary environment out of conviction or because of political pressure.
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Bibliographic InfoPaper provided by University of Delaware, Department of Economics in its series Working Papers with number 06-04.
Length: 27 pages
Date of creation: 2006
Date of revision:
Publication status: Published in Journal of Economic Perspectives, Vol. 20, No. 4, Fall, 2006
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Postal: Purnell Hall, Newark, Delaware 19716
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Web page: http://www.lerner.udel.edu/departments/economics/department-economics/
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Other versions of this item:
- Burton A. Abrams, 2006. "How Richard Nixon Pressured Arthur Burns: Evidence from the Nixon Tapes," Journal of Economic Perspectives, American Economic Association, vol. 20(4), pages 177-188, Fall.
- NEP-ALL-2007-04-21 (All new papers)
- NEP-CBA-2007-04-21 (Central Banking)
- NEP-HIS-2007-04-21 (Business, Economic & Financial History)
- NEP-HPE-2007-04-21 (History & Philosophy of Economics)
- NEP-MON-2007-04-21 (Monetary Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Burton Abrams & Plamen Iossifov, 2006. "Does the Fed Contribute to a Political Business Cycle?," Public Choice, Springer, vol. 129(3), pages 249-262, December.
- Leertouwer, Erik & Maier, Philipp, 1999.
"Who creates poltical business cycles? : (should central banks be blamed?),"
99E56, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
- Leertouwer, Erik & Maier, Philipp, 2001. "Who creates political business cycles: should central banks be blamed?," European Journal of Political Economy, Elsevier, vol. 17(3), pages 445-463, September.
- Allen, Stuart D. & McCrickard, Donald L., 1991. "The influence of elections on federal reserve behavior," Economics Letters, Elsevier, vol. 37(1), pages 51-55, September.
- Christina D. Romer & David H. Romer, 2004.
"Choosing the Federal Reserve Chair: Lessons from History,"
Journal of Economic Perspectives,
American Economic Association, vol. 18(1), pages 129-162, Winter.
- Christina D. Romer & David H. Romer, 2003. "Choosing the Federal Reserve Chair: Lessons from History," NBER Working Papers 10161, National Bureau of Economic Research, Inc.
- Price, Simon, 1997. " Political Business Cycles and Macroeconomic Credibility: A Survey," Public Choice, Springer, vol. 92(3-4), pages 407-27, September.
Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Politiska pÃ¥tryckningar i penningpolitiken
by Martin FlodÃ©n in Ekonomistas on 2008-07-31 22:14:56
- 1970-talets penningpolitik Ã¤r avlÃ¤gsen
by Martin FlodÃ©n in Ekonomistas on 2008-04-28 06:52:38
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