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A limited central bank

  • Charles I. Plosser

Cato Institute's 31st Annual Monetary Conference — Was The Fed a Good Idea? November 14, 2013, Washington, D.C.> President Charles I. Plosser proposes setting limits on the Federal Reserve so that it can better fulfill what he believes is its essential role. He considers restrictions on the types of assets the Fed can buy to limit its interference with markets. He also touches on the Fed's governance and accountability and ways to implement policies that limit discretion and improve outcomes.

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Paper provided by Federal Reserve Bank of Philadelphia in its series Speech with number 86.

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Date of creation: 13 Nov 2013
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Handle: RePEc:fip:fedpsp:86
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  1. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-91, June.
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