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Reforming the Fed: what would real change look like?

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  • Belongia, Michael

Abstract

The Federal Reserve has responsibilities in three functional areas: Bank supervision and regulation, monetary policy, and services to the payments system. Although much has changed in each of these areas since the Fed was founded nearly one hundred years ago, the Federal Reserve System has changed relatively little. This paper reviews the Fed's operations and structure and suggests reforms that are coherent with its mission and the current state of the financial system.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 18977.

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Date of creation: Nov 2009
Date of revision: Dec 2009
Handle: RePEc:pra:mprapa:18977

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Keywords: Federal Reserve; monetary policy;

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  1. Barnett, William A, 1982. "The Optimal Level of Monetary Aggregation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(4), pages 687-710, November.
  2. Richard G. Anderson, 2006. "Monetary base," Working Papers 2006-049, Federal Reserve Bank of St. Louis.
  3. Barnett, William A., 1980. "Economic monetary aggregates an application of index number and aggregation theory," Journal of Econometrics, Elsevier, vol. 14(1), pages 11-48, September.
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