The Political Economy of American Monetary Policy
Book Details
Format
Hardback or Cased Book
ISBN-10
0521363160
ISBN-13
9780521363167
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
US
Country of Publication
GB
Publication Date
Sep 28th, 1990
Print length
324 Pages
Weight
6 grams
Product Classification:
MacroeconomicsBanking
Ksh 6,300.00
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An analysis of the role of the Federal Reserve in monetary policy making in the United States.
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.
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