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Allan Meltzer and the History of the Federal Reserve

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  • Michael D. Bordo

Abstract

Allan Meltzer was one of the leading monetary economists of the twentieth century. Allan was a key player in the debates over Monetarist and Keynesian doctrines as well as the debates over how to conduct monetary policy. He was always a strong advocate for rules-based monetary and lender of last resort policy. A salient part of his contribution was his monumental two volume History of the Federal Reserve 1913 to 1986 (2003 and 2010). In this essay, I present the main arguments of the History and provide an evaluation his contribution.

Suggested Citation

  • Michael D. Bordo, 2017. "Allan Meltzer and the History of the Federal Reserve," Economics Working Papers 17107, Hoover Institution, Stanford University.
    • Handle: RePEc:hoo:wpaper:17107
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    References listed on IDEAS

    as
    1. David Laidler, 2003. "Meltzer's History of the Federal Reserve," Journal of Economic Literature, American Economic Association, vol. 41(4), pages 1256-1271, December.
    2. Robert Solow, 2010. "On Paul Samuelson," Challenge, Taylor & Francis Journals, vol. 53(2), pages 113-116.
    3. repec:ucp:bkecon:9780226519944 is not listed on IDEAS
    4. Karl Brunner & Allan H. Meltzer, 1968. "What Did We Learn from the Monetary Experience of the United States in the Great Depression?," Canadian Journal of Economics, Canadian Economics Association, vol. 1(2), pages 334-348, May.
    5. Meltzer, Allan H., 1976. "Monetary and other explanations of the start of the great depression," Journal of Monetary Economics, Elsevier, vol. 2(4), pages 455-471, November.
    6. Bordo, Michael D., 2006. "Review of A History of the Federal Reserve. Volume I (2003) by Allan H. Meltzer," Journal of Monetary Economics, Elsevier, vol. 53(3), pages 633-657, April.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • N12 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: 1913-
    • N22 - Economic History - - Financial Markets and Institutions - - - U.S.; Canada: 1913-

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