IDEAS home Printed from https://ideas.repec.org/a/fip/fedrer/y1987imayp3-16nv.73no.3.html

Swiss and United States monetary policy: has monetarism failed?

Author

Listed:
  • Georg Rich

Abstract

An abstract for this article is not available

Suggested Citation

  • Georg Rich, 1987. "Swiss and United States monetary policy: has monetarism failed?," Economic Review, Federal Reserve Bank of Richmond, vol. 73(May), pages 3-16.
    • Handle: RePEc:fip:fedrer:y:1987:i:may:p:3-16:n:v.73no.3
    as

    Download full text from publisher

    File URL: https://fraser.stlouisfed.org/title/economic-quarterly-federal-reserve-bank-richmond-960/may-june-1987-477342
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Kenneth Rogoff, 1985. "The Optimal Degree of Commitment to an Intermediate Monetary Target," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 100(4), pages 1169-1189.
    2. John Wenninger, 1986. "Responsiveness of interest rate spreads and deposit flows to changes in market rates," Quarterly Review, Federal Reserve Bank of New York, vol. 11(Aut), pages 1-10.
    3. Michael L. Mussa & Paul A. Volcker & James Tobin, 1994. "Monetary Policy," NBER Chapters, in: American Economic Policy in the 1980s, pages 81-164, National Bureau of Economic Research, Inc.
    4. Barro, Robert J., 1986. "Reputation in a model of monetary policy with incomplete information," Journal of Monetary Economics, Elsevier, vol. 17(1), pages 3-20, January.
    5. Poole, William, 1982. "Federal Reserve Operating Procedures: A Survey and Evaluation of the Historical Record since October 1979," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(4), pages 575-596, November.
    6. Karl Brunner, 1983. "Has Monetarism Failed?," Cato Journal, Cato Journal, Cato Institute, vol. 3(1), pages 23-62, Spring.
    7. Rik Hafer, 1984. "The money-GNP link: assessing alternative transaction measures," Review, Federal Reserve Bank of St. Louis, vol. 66(Mar), pages 19-27.
    8. Robert L. Hetzel, 1986. "A Congressional Mandate for Monetary Policy," Cato Journal, Cato Journal, Cato Institute, vol. 5(3), pages 797-824, Winter.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. McCallum, Bennett T., 1999. "Issues in the design of monetary policy rules," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 23, pages 1483-1530, Elsevier.
    2. Abdur Chowdhury, 1995. "The demand for money in a small open economy: The case of Switzerland," Open Economies Review, Springer, vol. 6(2), pages 131-144, April.
    3. Georg Rich, 1990. "Capitelli und Buomberger zur schweizerischen Geldpolitik: Der Wechselkurs als Deus ex machina?," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 126(4), pages 553-565, December.
    4. Todorović, Jadranka Đurović & Tomić, Zoran & Denić, Nebojša & Petković, Dalibor & Kojić, Nenad & Petrović, Jelena & Petković, Biljana, 2018. "Applicability of Newton’s law of cooling in monetary economics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 494(C), pages 209-217.
    5. Robert L. Hetzel, 2008. "What is the monetary standard, or, how did the Volcker-Greenspan FOMCs tame inflation?," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 94(Spr), pages 147-171.
    6. Tobias F. Rotheli, 1988. "Money demand and inflation in Switzerland: an application of the Pascal technique," Review, Federal Reserve Bank of St. Louis, issue May, pages 43-52.
    7. Ben Bernanke & Frederic Mishkin, 1992. "Central Bank Behavior and the Strategy of Monetary Policy: Observations from Six Industrialized Countries," NBER Chapters, in: NBER Macroeconomics Annual 1992, Volume 7, pages 183-238, National Bureau of Economic Research, Inc.
    8. Tobias F. Rötheli, 1990. "Money Supply and Money Demand Determinants of Swiss Inflation," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 126(1), pages 1-15, March.
    9. Weber, A.A., 1988. "The credibility of monetary policies, policymakers' reputation and the EMS-hypothesis : Empirical evidence from 13 countries," Discussion Paper 1988-3, Tilburg University, Center for Economic Research.
    10. Rich, Georg, 1997. "Monetary targets as a policy rule: Lessons from the Swiss experience," Journal of Monetary Economics, Elsevier, vol. 39(1), pages 113-141, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cukierman, Alex & Spiegel, Yossi & Leiderman, Leonardo, 2004. "The choice of exchange rate bands: balancing credibility and flexibility," Journal of International Economics, Elsevier, vol. 62(2), pages 379-408, March.
    2. Sanghoon Lee, 2010. "Dynamic Inconsistency in Counterterrorism," Conflict Management and Peace Science, Peace Science Society (International), vol. 27(4), pages 369-385, September.
    3. Cukierman, Alex, 2008. "Central bank independence and monetary policymaking institutions -- Past, present and future," European Journal of Political Economy, Elsevier, vol. 24(4), pages 722-736, December.
    4. Goodhart, Charles, 1989. "The Conduct of Monetary Policy," Economic Journal, Royal Economic Society, vol. 99(396), pages 293-346, June.
    5. repec:spo:wpmain:info:hdl:2441/713kqq1pgu80lr8fn0lsuuh8lf is not listed on IDEAS
    6. Andreas Beyer & Vitor Gaspar & Christina Gerberding & Otmar Issing, 2013. "Opting Out of the Great Inflation: German Monetary Policy after the Breakdown of Bretton Woods," NBER Chapters, in: The Great Inflation: The Rebirth of Modern Central Banking, pages 301-346, National Bureau of Economic Research, Inc.
    7. Schaumburg, Ernst & Tambalotti, Andrea, 2007. "An investigation of the gains from commitment in monetary policy," Journal of Monetary Economics, Elsevier, vol. 54(2), pages 302-324, March.
    8. Francesco Salsano, 2005. "Monetary Policy in the Presence Of Imperfect Observability Of The Objectives Of Central Bankers," Birkbeck Working Papers in Economics and Finance 0523, Birkbeck, Department of Economics, Mathematics & Statistics.
    9. Nir Klein, 2003. "Reputation and Indexation in an Inflation Targeting Framework," Bank of Israel Working Papers 2003.13, Bank of Israel.
    10. Hayat, Zafar & Balli, Faruk & Obben, James & Shakur, Shamim, 2016. "An empirical assessment of monetary discretion: The case of Pakistan," Journal of Policy Modeling, Elsevier, vol. 38(5), pages 954-970.
    11. Faust, Jon, 1996. "Whom can we trust to run the Fed? Theoretical support for the founders' views," Journal of Monetary Economics, Elsevier, vol. 37(2-3), pages 267-283, April.
    12. José I. Garcia de Paso, 1996. "A partisan model of political monetary cycles," Investigaciones Economicas, Fundación SEPI, vol. 20(2), pages 243-262, May.
    13. Franz R. Hahn & Peter Mooslechner, 1999. "Zur Fundierung des Designs des Europäischen Zentralbanksystems," WIFO Monatsberichte (monthly reports), WIFO, vol. 72(1), pages 49-60, January.
    14. Yvan Lengwiler & Athanasios Orphanides, 2002. "Optimal Discretion," Scandinavian Journal of Economics, Wiley Blackwell, vol. 104(2), pages 261-276, June.
    15. Arayssi, Mahmoud, 2014. "Nominal Income and Inflation Targeting," MPRA Paper 62066, University Library of Munich, Germany.
    16. Patrick Artus, 1987. "Fixation de l'objectif monétaire et réputation de la Banque Centrale," Revue Économique, Programme National Persée, vol. 38(4), pages 807-836.
    17. Jiahong Gao & Robert R. Reed, 2023. "Preventing bank panics: The role of the regulator's preferences," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(2), pages 387-422, May.
    18. Huang, Haizhou & Wei, Shang-Jin, 2006. "Monetary policies for developing countries: The role of institutional quality," Journal of International Economics, Elsevier, vol. 70(1), pages 239-252, September.
    19. Barthélemy, Jean & Mengus, Eric, 2018. "The signaling effect of raising inflation," Journal of Economic Theory, Elsevier, vol. 178(C), pages 488-516.
    20. Geraats, P.M., 2005. "Political Pressures and Monetary Mystique," Cambridge Working Papers in Economics 0557, Faculty of Economics, University of Cambridge.
    21. Mridula Duggal & Luis E. Rojas, 2023. "Optimal Disinflation with Delegation and Limited Credibility," Working Papers 1401, Barcelona School of Economics.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedrer:y:1987:i:may:p:3-16:n:v.73no.3. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Christian Pascasio (email available below). General contact details of provider: https://edirc.repec.org/data/frbrius.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.