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Reforming the Fed: what would real change look like?

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  • Belongia, Michael

Abstract

The Federal Reserve has responsibilities in three functional areas: Bank supervision and regulation, monetary policy, and services to the payments system. Although much has changed in each of these areas since the Fed was founded nearly one hundred years ago, the Federal Reserve System has changed relatively little. This paper reviews the Fed's operations and structure and suggests reforms that are coherent with its mission and the current state of the financial system.

Suggested Citation

  • Belongia, Michael, 2009. "Reforming the Fed: what would real change look like?," MPRA Paper 18977, University Library of Munich, Germany, revised Dec 2009.
  • Handle: RePEc:pra:mprapa:18977
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    File URL: https://mpra.ub.uni-muenchen.de/18977/1/MPRA_paper_18977.pdf
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    References listed on IDEAS

    as
    1. Barnett, William A., 1980. "Economic monetary aggregates an application of index number and aggregation theory," Journal of Econometrics, Elsevier, vol. 14(1), pages 11-48, September.
    2. Barnett, William A, 1982. "The Optimal Level of Monetary Aggregation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(4), pages 687-710, November.
    3. Richard G. Anderson, 2006. "Monetary base," Working Papers 2006-049, Federal Reserve Bank of St. Louis.
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    Cited by:

    1. Hayo, Bernd & Neuenkirch, Matthias, 2013. "Do Federal Reserve presidents communicate with a regional bias?," Journal of Macroeconomics, Elsevier, vol. 35(C), pages 62-72.

    More about this item

    Keywords

    Federal Reserve; monetary policy;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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