Reflections on Allan H. Meltzer's contributions to monetary economics and public policy
- edited by David Beckworth.
- Stanford, California : Hoover Institution Press, Stanford University, 2019.
- Physical description
- viii, 187 pages : illustrations ; 23 cm.
- Hoover Institution Press publication ; 704.
- Beckworth, David M., editor.
- Includes bibliographical references and index.
- Making the rules and breaking the mold : Allan Meltzer, 1928-2017 / John Taylor
- Allan Meltzer and the history of the Federal Reserve / Michael D. Bordo
- Allan Meltzer : how he underestimated his own contribution to the modern concept of a central bank / Robert L. Hetzel
- "They profess to fear that for which they dare not hope" : how the Fed contributed to the Great Depression and the Great Recession by boosting banks' demand for reserves / George Selgin
- Allan Meltzer's model of the transmission mechanism and its implications for today / Peter N. Ireland
- The monetary base in Allan Meltzer's analytical framework / Edward Nelson
- Monetary policy and the interest rate : reflections on Allan Meltzer's contributions to monetary economics / Joshua R. Hendrickson
- Allan Meltzer and the search for a nominal anchor / James Bullard
- The Meltzer Commission / Gerald P. O'Driscoll Jr.
- Memories of Allan H. Meltzer / Robert Lucas
- Allan Meltzer's contributions to public policy thought as applied to the Federal Reserve / Charles Plosser
- Macro musings : Allan Meltzer / Allan Meltzer and David Beckworth
Allan H. Meltzer (1928-2017), a leading monetary economist of the twentieth century, is memorialized in eleven essays by prominent economists. Among his achievements, Meltzer transformed the field of central banking and dissected the economic disasters of the 1930s and late 2000s, as well as the avoidance of disaster in the 1970s. Focusing on his landmark A History of the Federal Reserve, 1913-1986, the first section argues that the Fed's biggest successes are tied to its adherence to classical monetary theory and also examines the monetarist counterrevolution. Next, the book turns to Meltzer's thinking on the monetary transmission mechanism and his close work with Karl Brunner on the Brunner-Meltzer Model; it argues that Meltzer's understanding of monetary economics could be used to measure the impact of the Fed's activities. Finally, Meltzer's contributions to public policy are examined, including his proposed reforms to the International Monetary Fund and his activities at the Carnegie Mellon Graduate School of Industrial Administration. The conference papers that compose this volume celebrate Meltzer's fifty-year career at Carnegie Mellon. The book ends with a transcribed interview, conducted just a few months before his death, in which he shares sharp-witted insights about economics and his legacy. Contributors: Michael Bordo, James Bullard, Joshua R. Hendrickson, Robert Hetzel, Peter N. Ireland, Robert Lucas, Edward Nelson, Gerald P. O'Driscoll Jr., Charles Plosser, George Selgin, and John Taylor.
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- Meltzer, Allan H. > Congresses.
- Economists > United States > Congresses.
- Money > United States > Congresses.
- Monetary policy > United States > Congresses.
- Monetary policy > Congresses.
- Meltzer, Allan H.
- Monetary policy.
- United States.
- Publication date
- Hoover Institution Press publication ; no. 704
- Consists chiefly of papers presented at a conference held January 4, 2018 in Philadelphia, Pennsylvania.
- 9780817923051 (paperback)
- 9780817923068 (epub)
- 9780817923075 (mobi)
- 9780817923082 (pdf)
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