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Edwin Walter Kemmerer And The Origins Of The Fed




In this article we analyze Edwin Walter Kemmerer’s contribution to the creation of the Federal Reserve System. Firstly, we contrast Kemmerer’s role in the transition from the Aldrich banking reform plan to the Glass–Owen plan with those of A. Piatt Andrew (who was Aldrich’s main advisor), H. Parker Willis (i.e., Carter Glass’s advisor), and J.L. Laughlin (who was Willis’ mentor). Secondly, we deal with theoretical questions posed by Kemmerer, who, as we assert, developed his own banking reform plan. Even if his proposals were not immediately taken into account in the Federal Reserve Act of 1913, he contributes to the institutional structure of the Federal Reserve System.

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  • Gomez Betancourt, Rebeca, 2010. "Edwin Walter Kemmerer And The Origins Of The Fed," Journal of the History of Economic Thought, Cambridge University Press, vol. 32(04), pages 445-470, December.
  • Handle: RePEc:cup:jhisec:v:32:y:2010:i:04:p:445-470_00

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    Cited by:

    1. Rebeca Gomez Betancourt & Jérôme de Boyer des Roches, 2013. "Origins and developments of Irving Fisher's compensated dollar plan," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 20(2), pages 261-283, April.
    2. repec:dau:papers:123456789/10195 is not listed on IDEAS
    3. Hetzel, Robert L., 2014. "The Real Bills Views of the Founders of the Fed," Economic Quarterly, Federal Reserve Bank of Richmond, issue 2Q, pages 159-181.
    4. Ivo Maes & Rebeca Gomez Betancourt, 2018. "Paul van Zeeland and the first decade of the US Federal Reserve System : The analysis from a European central banker who was a student of Kemmerer," Working Paper Research 339, National Bank of Belgium.
    5. repec:dau:papers:123456789/6554 is not listed on IDEAS
    6. repec:dau:papers:123456789/10190 is not listed on IDEAS

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