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The Federal Reserve System Discussed: A Comparative Analysis

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Listed author(s):
  • M.M.G. Fase
  • W.F.V. Vanthoor

Abstract

In the first half of 2000 the authors of this paper visited the twelve District Reserve Banks in the United States which was followed by a discussion at the Board in Washington. The aim of this visit was to get a deeper insight into the working of the American Federal Reserve System in order to see whether there is a sufficient basis for a comparison with the European System of Central Banks. The direct contacts with many senior and research staff members enabled them to deepen their factual empirical knowledge about the US banking system. The staff set aside a lot of time to discuss the relevant questions and made various members of the Economic Research Departments available for further conversation. Par-ticularly enlightening were the stimulating views of some Reserve Bank presidents on the task and rules of monetary policy.

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This chapter was published in:
  • M.M.G. Fase & W.F.V. Vanthoor, 2000. "The Federal Reserve System Discussed: A Comparative Analysis," SUERF Studies, SUERF - The European Money and Finance Forum, number 10 edited by Morten Balling, April.
    • This item is provided by SUERF - The European Money and Finance Forum in its series Chapters in SUERF Studies with number 10-1.
    Handle: RePEc:erf:erfssc:10-1
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    1. Faust, Jon & Svensson, Lars E O, 2002. "The Equilibrium Degree of Transparency and Control in Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 34(2), pages 520-539, May.
    2. Allan Meltzer, 2000. "Lessons from the early history of the federal reserve," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 28(3), pages 269-278, September.
    3. David Llewellyn, 1999. "The New Economics of Banking," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    4. Joseph Bisignano, 1998. "Towards an Understanding of the Changing Structure of Financial Intermediation - An Evolutionary Theory of Institutional Survival," SUERF Studies, SUERF - The European Money and Finance Forum, number 4 edited by Morten Balling, April.
    5. Joseph Bisignano, 1998. "Towards an Understanding of the Changing Structure of Financial Intermediation: An Evolutionary Theory of Institutional Survival," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    6. M.M.G. Fase & G.J. de Bondt, 1999. "Institutional environment and monetary transmission in the euro area: a cross-country view (in Dutch)," WO Research Memoranda (discontinued) 599, Netherlands Central Bank, Research Department.
    7. Rolf Skog, 1997. "Does Sweden Need a Mandatory Bid Rule? A critical analysis," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    8. Faust, Jon & Svensson, Lars E O, 2001. "Transparency and Credibility: Monetary Policy with Unobservable Goals," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 42(2), pages 369-397, May.
    9. Craig S. Hakkio & Gordon H. Sellon, 2000. "The discount window : time for reform?," Economic Review, Federal Reserve Bank of Kansas City, issue Q II, pages 1-20.
    10. Rolf Skog, 1997. "Does Sweden Need a Mandatory Bid Rule? - A Critical Analysis," SUERF Studies, SUERF - The European Money and Finance Forum, number 2 edited by Morten Balling, April.
    11. Carmen Hernansanz & Miguel Sebastian, 2000. "The Spanish Banks strategy in Latin America," Working Papers 0003, BBVA Bank, Economic Research Department.
    12. Miguel Sebastin & Carmen Hernansanz, 2000. "The Spanish Banks' Strategy in Latin America," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    13. David T. Llewellyn, 1999. "The New Economics of Banking," SUERF Studies, SUERF - The European Money and Finance Forum, number 5 edited by Morten Balling, April.
    14. John Calverley & Sarah Hewin & Kevin Grice, 2000. "Emerging Stock Markets After the Crisis," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    15. George Gelauff & Corina den Broeder, 1997. "Governance of stakeholder relationships: The German and Dutch experience," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
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    Cited by:

    1. Helmut Wagner, 2002. "Implications of Globalization for Monetary Policy," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    2. Jung, Alexander & Latsos, Sophia, 2015. "Do federal reserve bank presidents have a regional bias?," European Journal of Political Economy, Elsevier, vol. 40(PA), pages 173-183.
    3. Luiz Fernando de Paula, 2002. "Banking Internationalisation and the Expansion Strategies of European Banks to Brazil during the 1990s," SUERF Studies, SUERF - The European Money and Finance Forum, number 18 edited by Morten Balling, April.
    4. Paula Bongini, 2003. "The EU Experience in Financial Services Liberalization: A Model for GATS Negotiations?," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    5. Thomas Dalsgaard & Jørgen Elmeskov & Cyn-Young Park, 2002. "Ongoing Changes in the Business Cycle – Evidence and Causes," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    6. Philippe Moutot & Alexander Jung, 2002. "La politique monétaire européenne : un bilan après trois ans," Revue d'Économie Financière, Programme National Persée, vol. 65(1), pages 11-37.
    7. Bert Scholtens & Dick van Wensveen, 2003. "The Theory of Financial Intermediation: An Essay On What It Does (Not) Explain," SUERF Studies, SUERF - The European Money and Finance Forum, number 2003/1 edited by Morten Balling, April.
    8. Jean-Paul Abraham & Peter Van Dijcke, 2002. "European Financial Cross-Border Consolidation: At the crossroads in Europe? By exception, evolution or revolution?," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    9. Christian Harm, 2002. "Bank management between shareholders and regulators," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    10. Juan Sergio Lopez & Alessandra Appennini & Stefania P. S. Rossi, 2002. "Are Italian mutual banks efficient? Evidence from two different cost frontier techniques," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    11. Roberto Di Salvo & Maria Carmela Mazzilis & Andrea Guidi, 2002. "Mergers and Acquisitions Between Mutual Banks in Italy :An analysis of the effects on performance and productive efficiency," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.

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