Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
Hostname: page-component-cd9895bd7-p9bg8 Total loading time: 0 Render date: 2024-12-19T06:47:14.757Z Has data issue: false hasContentIssue false

3 - How and Why the Fed Must Change in Its Second Century

Published online by Cambridge University Press:  05 March 2015

By
Allan H. Meltzer
Edited by
Owen F. Humpage
Owen F. Humpage
Affiliation:
Federal Reserve Bank of Cleveland
Get access
Type
Chapter
Information
Current Federal Reserve Policy Under the Lens of Economic History
Essays to Commemorate the Federal Reserve System's Centennial
 , pp. 35 - 48
Publisher: Cambridge University Press
Print publication year: 2015

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Bernanke, B. (2012). “Speech to Economic Club of Indiana.” Retrieved from www.federalreserve.gov.Google Scholar
Bordo, Michael. (2009). “Exits from Recessions: The U.S. Experience 1920–2007.” In Reinhart, V. (ed), No Way Out: Government Responses to the Financial Crisis.Washington, DC: American Enterprise Institute.Google Scholar
Bordo, Michael, Humpage, Owen, and Schwartz, Anna. (2011). “U.S. Intervention in the Bretton Woods Era.” Federal Reserve Bank of Cleveland, Working Paper, April.Google Scholar
Bordo, Michael, and Schwartz, Anna J.. (1984). A Retrospective on the Classical Gold Standard, 1821–1931. Chicago: University of Chicago Press for the National Bureau of Economic Research.CrossRefGoogle Scholar
Brunner, Karl, and Meltzer, Allan H.. (1993). Money and the Economy: Issues in Monetary Analysis. Cambridge: Cambridge University Press for the Raffaele Mattioli Foundation.Google Scholar
Goodfriend, Marvin. (2010). “Monetary Policy, Credit Policy, and Interest on Reserves in the Economic Recovery.” Testimony, House Committee on Financial Service, February 10.Google Scholar
Kydland, Finn, and Prescott, Edward. (1977). “Rules Rather than Discretion: The Inconsistency of Optimal Plans.” Journal of Political Economy 85 (June): 473–492.CrossRefGoogle Scholar
Meltzer, Allan H. (1987). “Limits of Short-Run Stabilization Policy.” Presidential Address to the Western Economic Association. Economic Inquiry 25 (January):1–14.CrossRefGoogle Scholar
Meltzer, Allan H. (2003). A History of the Federal Reserve, Vol. 1, 1913–50. Chicago: University of Chicago Press.Google Scholar
Muth, John F. (1960). “Optimal Properties of Exponentially Weighted Forecasts.” Journal of the American Statistical Association 55 (June): 299–306.CrossRefGoogle Scholar
Taylor, John B. (1993). “Discretion versus Policy Rules in Practice.” Carnegie Rochester Conference Series on Public Policy 39 (December):195–214.CrossRefGoogle Scholar
Tobin, James. (1969). “A General Equilibrium Approach to Monetary Theory.” Journal of Money, Credit and Banking 1 (February):15–29.CrossRefGoogle Scholar
Woodford, Michael. (2003). Interest and Prices: Foundations of a Theory of Monetary Policy. Princeton, NJ: Princeton University Press.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×