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The Political Economy of American Monetary Policy

Cambridge University Press

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ISBN 10: 0521363160 / ISBN 13: 9780521363167
Published by Cambridge University Press, 1990
Condition: Good Hardcover
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Bibliographic Details

Title: The Political Economy of American Monetary ...

Publisher: Cambridge University Press

Publication Date: 1990

Binding: Hardcover

Book Condition: Good

About this title


This collection of essays examines the institutional framework in which monetary policy is made. The essays consider two questions: how free is the Fed to set monetary policy and to what extent do organisational problems affect the choice of that monetary policy? Topics covered include the Fed's response to movements on its goals, Congressional and presidential pressures on the Fed, the existence of political business cycles operating through monetary policy, and the extent to which monetary policy may be explained by the Fed's own interests. A final section examines the claim that the Federal Reserve follows counter-cyclical policy and evaluates its performance as a lender to banks both in normal times and as a lender of last resort.


"In summary, this volume presents a diverse and comprehensive set of hypotheses of Federal Reserve behavior that many readers will find interesting." Robert H. Rasche, Journal of Economic Literature

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