The Historical Performance of the Federal Reserve

Language: English

Published by Hoover Institution Press,U.S., US, 2019

0817922148 / 9780817922146

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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.

Seller Inventory # LU-9780817922146

Title
The Historical Performance of the Federal Reserve
Author
Michael D. Bordo
Publisher
Hoover Institution Press,U.S., US
Publication year
2019
Condition
New
Binding
Hardback
Language
English
ISBN 10
0817922148
ISBN 13
9780817922146
Item weight
1,161 grams

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