The historical performance of the Federal Reserve : the importance of rules

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Call number	Note	Status
D509 .H788 V.695		In-library use
HG2563 .B67 2019		In-library use

Bibliography: Includes bibliographical references and index
Publisher's summary: Distinguished economist Michael D. Bordo argues for the importance of monetary stability and monetary rules, offering theoretical, empirical, and historical perspectives to support his case. He shows how the pursuit of stable monetary policy guided by central banks following rule-like behavior produces low and stable inflation, stable real performance, and encourages financial stability. In contrast, he explains how the failure to adhere to rules that produce monetary stability will inevitably produce the dire consequences of real, nominal, and financial instability. Bordo examines theoretical perspectives in monetary theory on the case for stable money and the importance of monetary rules. The author also looks at the historical and empirical record of economic performance (both inflation and real output) across policy regimes. He examines the performance of the Federal Reserve in its pursuit of discretionary monetary policy, and he reviews the history of monetary policy during the Great Depression.
(source: Nielsen Book Data)

Subjects: Board of Governors of the Federal Reserve System (U.S.); Federal Reserve banks > History.; Monetary policy > United States > History.; United States > Economic policy > 20th century.

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