Welcome to our book review site go-pdf.online!
You may have to Search all our reviewed books and magazines, click the sign up button below to create a free account.
The Federal Reserve
"A new and critical history of one of America's most important institutions In The Federal Reserve System: A New History, Robert Hetzel draws on a 43-year career as an economist in the central bank to trace the influence of the Fed on the American economy. Hetzel compares period in which the Fed stabilized the economy and period in which it destabilized the the economy. He draws lessons about what monetary rule is stabilizing. Recast through this lens and enriched with archival materials, Hetzel's sweeping history offers new understanding of the bank's watershed moments since 1913. They include critical accounts of the Great Depression, the Great Inflation, and the Great Recession, all of which were avoidable. The Federal Reserve System: A New History arrives as a critical history for a critical moment. It promises to recast our understanding of the central bank in its second century"--
The Great Recession
Argues that the 2008-9 recession needs to be understood as deriving from mistakes of central banks and regulators, not financial markets.
The Monetary Policy of the Federal Reserve
Details the evolution of the monetary standard from the start of the Federal Reserve through the end of the Greenspan era. The book places that evolution in the context of the intellectual and political environment of the time. By understanding the fitful process of replacing a gold standard with a paper money standard, the conduct of monetary policy becomes a series of experiments useful for understanding the fundamental issues concerning money and prices. How did the recurrent monetary instability of the 20th century relate to the economic instability and to the associated political and social turbulence? After the detour in policy represented by FOMC chairmen Arthur Burns and G. William Miller, Paul Volcker and Alan Greenspan established the monetary standard originally foreshadowed by William McChesney Martin, who became chairman in 1951. The Monetary Policy of the Federal Reserve explains in a straightforward way the emergence and nature of the modern, inflation-targeting central bank.
Should Increased Regulation of Bank Risk-Taking Come from Regulators Or from the Market?
The heavy losses in bank asset portfolios do not reflect an inherent failure of markets to monitor risk adequately but rather the perverse incentives of the financial safety net to excessive risk-taking. The unsustainable rise in house prices and their subsequent sharp decline derived from the combination of a public policy to expand home ownership to unrealistic levels and from a financial safety net that encouraged excessive risk-taking by banks. Charts and tables.
Monetary Policy in the 2008-2009 Recession
The recession that began with a cyclical peak in Dec. 2007 originated in a combination of real shocks because of a fall in housing wealth and a fall in real income from an increase in energy prices. The most common explanation for the intensification of the recession that began in the late summer of 2008 is the propagation of these shocks through dysfunction in credit markets. The alternative explanation offered emphasizes propagation through contractionary monetary policy. The 1st explanation stresses the importance of credit-market interventions (credit policy). The 2nd emphasizes the importance of money creation (money-creation policy). "The System should always be engaged in a ruthless examination of its past record."
Contributions of Milton Friedman to Economics
Milton Friedman began his teaching career at the Univ. of Chicago isolated intellectually. He defended the ideas that competitive markets work efficiently to allocate resources & that central banks are responsible for inflation. By the 1980s, these ideas had become commonplace. Friedman was one of the great intellectuals of the 20th century because of his major influence on how a broad public understood the Depression, the Federal Reserve¿s stop-go monetary policy of the 1970s, flexible exchange rates, & the ability of market forces to advance individual welfare.
The Battle of Bretton Woods
Recounts the events of the Bretton Woods accords, presents portaits of the two men at the center of the drama, and reveals Harry White's admiration for Soviet economic planning and communications with intelligence officers.
Making Thatcher's Britain
This book situates the controversial Thatcher era in the political, social, cultural and economic history of modern Britain.
