Advanced Search
MyIDEAS: Login

How Richard Nixon Pressured Arthur Burns: Evidence from the Nixon Tapes

Contents:

Author Info

  • Burton A. Abrams

    () (Department of Economics,University of Delaware)

Abstract

Evidence 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.

Download Info

If 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.
File URL: http://www.lerner.udel.edu/economics/WorkingPapers/2006/UDWP2006-04.pdf
Download Restriction: no

Bibliographic Info

Paper provided by University of Delaware, Department of Economics in its series Working Papers with number 06-04.

as in new window
Length: 27 pages
Date of creation: 2006
Date of revision:
Publication status: Published in Journal of Economic Perspectives, Vol. 20, No. 4, Fall, 2006
Handle: RePEc:dlw:wpaper:06-04

Contact details of provider:
Postal: Purnell Hall, Newark, Delaware 19716
Phone: (302) 831-2551
Fax: (302) 831-6968
Web page: http://www.lerner.udel.edu/departments/economics/
More information through EDIRC

Related research

Keywords:

Other versions of this item:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
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.:
as in new window
  1. 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.
  2. Price, Simon, 1997. " Political Business Cycles and Macroeconomic Credibility: A Survey," Public Choice, Springer, vol. 92(3-4), pages 407-27, September.
  3. 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.
  4. 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.
  5. Burton Abrams & Plamen Iossifov, 2006. "Does the Fed Contribute to a Political Business Cycle?," Public Choice, Springer, vol. 129(3), pages 249-262, December.
Full references (including those not matched with items on IDEAS)

Citations

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Politiska påtryckningar i penningpolitiken
    by Martin Flodén in Ekonomistas on 2008-07-31 22:14:56
  2. 1970-talets penningpolitik är avlägsen
    by Martin Flodén in Ekonomistas on 2008-04-28 06:52:38
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Elmar Mertens, 2010. "Discreet Commitments and Discretion of Policymakers with Private Information," 2010 Meeting Papers 763, Society for Economic Dynamics.
  2. Burton A. Abrams & James L. Butkiewicz, 2007. "The Political Economy of Wage and Price Controls: Evidence from the Nixon Tapes," Working Papers 07-10, University of Delaware, Department of Economics.
  3. Alan S. Blinder & Jeremy B. Rudd, 2008. "The Supply Shock Explanation of the Great Stagflation Revisited," Working Papers 1097, Princeton University, Department of Economics, Center for Economic Policy Studies..
  4. Elmar Mertens, 2008. "Managing Beliefs about Monetary Policy under Discretion?," Working Papers 08.02, Swiss National Bank, Study Center Gerzensee.
  5. Burton A. Abrams & James L. Butkiewicz, 2011. "The Political Business Cycle: New Evidence from the Nixon Tapes," Working Papers 11-05, University of Delaware, Department of Economics.
  6. Jesús Fernández-Villaverde & Pablo Guerrón-Quintana & Juan F. Rubio-Ramírez, 2010. "Reading the Recent Monetary History of the U.S., 1959-2007," PIER Working Paper Archive 10-016, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  7. J. Ferris & Stanley Winer & Bernard Grofman, 2012. "Do departures from democratic accountability compromise the stability of public finances? Keynesianism, central banking, and minority governments in the Canadian system of party government, 1867–200," Constitutional Political Economy, Springer, vol. 23(3), pages 213-243, September.
  8. J. Ferris, 2008. "Electoral politics and monetary policy: does the Bank of Canada contribute to a political business cycle?," Public Choice, Springer, vol. 135(3), pages 449-468, June.
  9. Fabio Milani, 2010. "Political Business Cycles In The New Keynesian Model," Economic Inquiry, Western Economic Association International, vol. 48(4), pages 896-915, October.
  10. Andrew Levin & John B. Taylor, 2010. "Falling Behind the Curve: A Positive Analysis of Stop-Start Monetary Policies and the Great Inflation," NBER Working Papers 15630, National Bureau of Economic Research, Inc.
  11. Richard G. Anderson & Kevin L. Kliesen, 2011. "How does the FOMC learn about economic revolutions? evidence from the New Economy Era, 1994-2001," Working Papers 2011-041, Federal Reserve Bank of St. Louis.
  12. William Barnett, 2010. "Audit the Federal Reserve?," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 201001, University of Kansas, Department of Economics, revised Jan 2010.
  13. J. Stephen Ferris, 2012. "Fixed versus Flexible Electoral Cycles," Carleton Economic Papers 12-04, Carleton University, Department of Economics, revised 26 Nov 2012.
  14. Jerry Tempelman, 2007. "A commentary on “Does the Fed contribute to a political business cycle?”," Public Choice, Springer, vol. 132(3), pages 433-436, September.
  15. Burton Abrams, 2008. "A rejoinder to “A commentary on ‘Does the Fed contribute to a political business cycle?’ ”," Public Choice, Springer, vol. 134(3), pages 489-490, March.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:dlw:wpaper:06-04

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Saul Hoffman).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.