Download or read book A History of the Federal Reserve written by Allan H. Meltzer and published by University of Chicago Press. This book was released on 2010-02-15 with total page 815 pages. Available in PDF, EPUB and Kindle. Book excerpt: Allan H. Meltzer's monumental history of the Federal Reserve System tells the story of one of America's most influential but least understood public institutions. This first volume covers the period from the Federal Reserve's founding in 1913 through the Treasury-Federal Reserve Accord of 1951, which marked the beginning of a larger and greatly changed institution. To understand why the Federal Reserve acted as it did at key points in its history, Meltzer draws on meeting minutes, correspondence, and other internal documents (many made public only during the 1970s) to trace the reasoning behind its policy decisions. He explains, for instance, why the Federal Reserve remained passive throughout most of the economic decline that led to the Great Depression, and how the Board's actions helped to produce the deep recession of 1937 and 1938. He also highlights the impact on the institution of individuals such as Benjamin Strong, governor of the Federal Reserve Bank of New York in the 1920s, who played a key role in the adoption of a more active monetary policy by the Federal Reserve. Meltzer also examines the influence the Federal Reserve has had on international affairs, from attempts to build a new international financial system in the 1920s to the Bretton Woods Agreement of 1944 that established the International Monetary Fund and the World Bank, and the failure of the London Economic Conference of 1933. Written by one of the world's leading economists, this magisterial biography of the Federal Reserve and the people who helped shape it will interest economists, central bankers, historians, political scientists, policymakers, and anyone seeking a deep understanding of the institution that controls America's purse strings. "It was 'an unprecedented orgy of extravagance, a mania for speculation, overextended business in nearly all lines and in every section of the country.' An Alan Greenspan rumination about the irrational exuberance of the late 1990s? Try the 1920 annual report of the board of governors of the Federal Reserve. . . . To understand why the Fed acted as it did—at these critical moments and many others—would require years of study, poring over letters, the minutes of meetings and internal Fed documents. Such a task would naturally deter most scholars of economic history but not, thank goodness, Allan Meltzer."—Wall Street Journal "A seminal work that anyone interested in the inner workings of the U. S. central bank should read. A work that scholars will mine for years to come."—John M. Berry, Washington Post "An exceptionally clear story about why, as the ideas that actually informed policy evolved, things sometimes went well and sometimes went badly. . . . One can only hope that we do not have to wait too long for the second installment."—David Laidler, Journal of Economic Literature "A thorough narrative history of a high order. Meltzer's analysis is persuasive and acute. His work will stand for a generation as the benchmark history of the world's most powerful economic institution. It is an impressive, even awe-inspiring achievement."—Sir Howard Davies, Times Higher Education Supplement

Download or read book Federal Reserve Bulletin January 1951 written by and published by . This book was released on 1951 with total page 776 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Countries Participating in the European Recovery Program written by United States. Congress. Senate. Committee on Foreign Relations and published by . This book was released on 1948 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book FEDERAL RESERVE BULLETIN JANUARY 1921 written by and published by . This book was released on 1921 with total page 1630 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Federal Reserve Bulletin written by and published by . This book was released on 1952 with total page 1402 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Liquidity Ratios as Monetary Policy Tools Some Historical Lessons for Macroprudential Policy written by Eric Monnet and published by International Monetary Fund. This book was released on 2019-08-16 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores what history can tell us about the interactions between macroprudential and monetary policy. Based on numerous historical documents, we show that liquidity ratios similar to the Liquidity Coverage Ratio (LCR) were commonly used as monetary policy tools by central banks between the 1930s and 1980s. We build a model that rationalizes the mechanisms described by contemporary central bankers, in which an increase in the liquidity ratio has contractionary effects, because it reduces the quantity of assets banks can pledge as collateral. This effect, akin to quantity rationing, is more pronounced when excess reserves are scarce.

Download or read book Balance Sheet and Current Financial Trends of Agriculture written by United States. Department of Agriculture. Economic Research Service and published by . This book was released on 1945 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Recession Prevention Handbook Eleven Case Studies 1948 2007 written by Norman Frumkin and published by Routledge. This book was released on 2017-07-05 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the performance of the economy and the economic policy actions of the Federal Reserve, the president, and the Congress in the twelve months preceding each of the eleven recession the United States has endured since the end of World War II. Incoroporating extensive real-time data, the book offers policy recommendations for preventing future recessions or at least limiting their impact.

Download or read book Congressional Record written by United States. Congress and published by . This book was released on 1962 with total page 1452 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Congressional Record is the official record of the proceedings and debates of the United States Congress. It is published daily when Congress is in session. The Congressional Record began publication in 1873. Debates for sessions prior to 1873 are recorded in The Debates and Proceedings in the Congress of the United States (1789-1824), the Register of Debates in Congress (1824-1837), and the Congressional Globe (1833-1873)

Download or read book Federal Reserve Bulletin written by and published by . This book was released on 1918 with total page 1306 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book FEDERAL RESERVE BULLETIN JANUARY 1957 written by and published by . This book was released on 1957 with total page 790 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Annual Report of the Federal Deposit Insurance Corporation for the Year Ending written by Federal Deposit Insurance Corporation and published by . This book was released on 1951 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: Beginning with 1981, merger decisions of the Corporation are published separately as vol. 2 of the Annual report.

Download or read book Guidelines for Determining Flood Flow Frequency written by Water Resources Council (U.S.). Hydrology Committee and published by . This book was released on 1975 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Strained Relations written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2015-03-02 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the twentieth century, foreign-exchange intervention was sometimes used in an attempt to solve the fundamental trilemma of international finance, which holds that countries cannot simultaneously pursue independent monetary policies, stabilize their exchange rates, and benefit from free cross-border financial flows. Drawing on a trove of previously confidential data, Strained Relations reveals the evolution of US policy regarding currency market intervention, and its interaction with monetary policy. The authors consider how foreign-exchange intervention was affected by changing economic and institutional circumstances—most notably the abandonment of the international gold standard—and how political and bureaucratic factors affected this aspect of public policy.

Download or read book The Chicago Plan Revisited written by Mr.Jaromir Benes and published by International Monetary Fund. This book was released on 2012-08-01 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.

Download or read book Strengthening Forensic Science in the United States written by National Research Council and published by National Academies Press. This book was released on 2009-07-29 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scores of talented and dedicated people serve the forensic science community, performing vitally important work. However, they are often constrained by lack of adequate resources, sound policies, and national support. It is clear that change and advancements, both systematic and scientific, are needed in a number of forensic science disciplines to ensure the reliability of work, establish enforceable standards, and promote best practices with consistent application. Strengthening Forensic Science in the United States: A Path Forward provides a detailed plan for addressing these needs and suggests the creation of a new government entity, the National Institute of Forensic Science, to establish and enforce standards within the forensic science community. The benefits of improving and regulating the forensic science disciplines are clear: assisting law enforcement officials, enhancing homeland security, and reducing the risk of wrongful conviction and exoneration. Strengthening Forensic Science in the United States gives a full account of what is needed to advance the forensic science disciplines, including upgrading of systems and organizational structures, better training, widespread adoption of uniform and enforceable best practices, and mandatory certification and accreditation programs. While this book provides an essential call-to-action for congress and policy makers, it also serves as a vital tool for law enforcement agencies, criminal prosecutors and attorneys, and forensic science educators.

Download or read book The Secrets of the Federal Reserve The London Connection written by Eustace Mullins and published by Lulu.com. This book was released on 2018-09-13 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Foreword. In 1949, while I was visiting Ezra Pound who was a political prisoner at St. Elizabeth's Hospital, Washington, D.C. (a Federal institution for the insane), Dr. Pound asked me if I had ever heard of the Federal Reserve System. I replied that I had not, as of the age of 25. He then showed me a ten dollar bill marked ""Federal Reserve Note"" and asked me if I would do some research at the Library of Congress on the Federal Reserve System which had issued this bill. Pound was unable to go to the Library himself, as he was being held without trial as a political prisoner by the United States government. After he was denied broadcasting time in the U.S., Dr. Pound broadcast from Italy in an effort to persuade people of the United States not to enter World War II. Franklin D. Roosevelt had personally ordered Pound's indictment, spurred by the demands of his three personal assistants, Harry Dexter White, Lauchlin Currie, and Alger Hiss, all connected with Communist espionage.