krainaksiazek a century of monetary policy at the fed 20054867

- znaleziono 25 produktów w 2 sklepach

Monetary Policy and the Onset of the Great Depression - 2847579045

556,91 zł

Monetary Policy and the Onset of the Great Depression PALGRAVE MACMILLAN

Książki / Literatura obcojęzyczna

Monetary Policy and the Onset of the Great Depression challenges Milton Friedman and Anna Schwartz's now-consensus view that the high tide of the Federal Reserve System in the 1920s was due to the leadership skills of Benjamin Strong, head of the Federal Reserve Bank of New York. In this new work, Toma develops a self-regulated model of the Federal Reserve, which stands in contrast to a conventional discretionary model. Given the easy redemption of dollars for gold and the competition among Reserve banks, the self-regulated model implies that the early Fed could control neither the money supply nor the price level. Exploiting an untapped data set, later chapters test the thesis of self-regulation by focusing on the monetary decisions of individual Reserve banks. The micro-based evidence indicates that "Reserve banks really did compete" - and that Benjamin Strong as decisive leader during the 1920s is a myth. This finding, with its emphasis on monetary policy in the years leading up to the Great Depression, will be of interest to scholars, students, and sophisticated lay readers with an interest in macroeconomic and monetary economic policy issues, specifically to those with an interest in economic history.


Moral Hazard through Monetary Policy - 2843502887

328,77 zł

Moral Hazard through Monetary Policy VDM Verlag Dr. Müller

Książki / Literatura obcojęzyczna

In scope of this book, moral hazard problem relating §to monetary policies during and after financial §crisis is analyzed. First, an insight into the §monetary policy objectives and tools are given. This §is followed by the challenges which central banks §face during financial crisis situations and their §relation to moral hazard. It is proven that loose §monetary policies during financial crisis might help §in overcoming problems such as illiquidity in short §term whereas it creates moral hazard among the §market participants. This contributes to distraction §of financial stability, an increase in inflation, §and thus impedes economic activity in long term. §These findings are also analyzed within two §financial crises of the last two decades: dot-com §bubble and sub-prime crisis. Evidence is provided §that Fed s loose monetary policy and low interest §rates has created moral hazard and encouraged market §participants to take excessive risks that led to sub-§prime crisis.


Monetary Regimes of the Twentieth Century - 2853288896

797,75 zł

Monetary Regimes of the Twentieth Century Cambridge University Press

Książki / Literatura obcojęzyczna

Abstract economic theory may be timeless and potentially universal in its application, but macroeconomics has to be seen in its historical context. The nature of the policy regime, the behaviour of the economy and the beliefs of professional economists all interact, and influence each other. This short historical account of monetary regimes since 1900 shows how the role of policy has changed, and how this has related to experience of inflation and the real economy, as well as to changes in political philosophies. The narrative concentrates on developments in America, Europe and Japan from the era of the classical gold standard, via the era of policy intervention and reduced faith in the market to the present 'neo-liberal' regimes. The 'grand narrative' of the century is a journey 'to Utopia and back'. It is argued that no school of macroeconomics is right for all time; different theoretical models may be appropriate, for different periods and regimes.


End the Fed - 2843903149

102,59 zł


Książki / Literatura obcojęzyczna

During the 2008 presidential campaign over 4,000 students gathered at the University of Michigan to hear Republican Party candidate Ron Paul speak. As he began to address the topics of monetary policy and the coming depression, a chant came from the crowd, 'End the Fed! End the Fed!' As dollar bills were set on fire, it became clearer than ever that the real problem, one that nobody in the media was talking about, was the central bank - an unconstitutional entity and a political, economic, and moral disaster. Most people think of the Federal Reserve as an institution that has always been there (it hasn't) and isn't going anywhere. But in END THE FED, Ron Paul draws on American history, economics and fascinating stories from his own long political life to argue that the Federal Reserve is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put us into an inflationary depression where $100 bills are worthless. What most people don't realise is that the Fed - created by the Morgans and Rockefellers at a private club off the coast of Georgia - is actually working against their own personal interests. Ron Paul's urgent appeal to all citizens and officials tells us where we went wrong and what we need to do fix America's economic policy for future generations.


Case Against the Fed - 2835282009

33,55 zł

Case Against the Fed Stellar Editions

Książki / Literatura obcojęzyczna

The Case Against the Fed takes a critical look at the United States Federal Reserve and central banks in general. It details the history of reserve banking and the influence that bankers have had on monetary policy over the last few centuries. The claim that the U.S. Federal Reserve is designed to fight inflation is proven false in this book,--in fact, it is price inflation which is caused only by an increase in the money supply, and since only banks increase the money supply, then banks, including the Federal Reserve, are the only source of inflation. First published in 1994, this book is more vital and relevant today than ever.


Monetary History of the United States, 1867-1960 - 2826817988

314,12 zł

Monetary History of the United States, 1867-1960 UNIVERSITY PRESSES

Książki / Literatura obcojęzyczna

Writing in the June 1965 issue of the "Economic Journal", Harry G. Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review: 'The long-awaited "Monetary History of the United States" by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement - monumental in its sheer bulk, monumental in the definitiveness of its treatment of innumerable issues, large and small ...monumental, above all, in the theoretical and statistical effort and ingenuity that have been brought to bear on the solution of complex and subtle economic issues'.Friedman and Schwartz marshaled massive historical data and sharp analytics to support the claim that monetary policy - steady control of the money supply - matters profoundly in the management of the nation's economy, especially in navigating serious economic fluctuations. In their influential chapter 7, "The Great Contraction" - which Princeton published in 1965 as a separate paperback - they address the central economic event of the century, the Depression. According to Hugh Rockoff, writing in January 1965: 'If Great Depressions could be prevented through timely actions by the monetary authority (or by a monetary rule), as Friedman and Schwartz had contended, then the case for market economies was measurably stronger.' Milton Friedman won the Nobel Prize in Economics in 2000 for work related to "A Monetary History " as well as to his other Princeton University Press book, "A Theory of the Consumption Function" (1957).


Principles of Macroeconomics - 2212830077

202,10 zł

Principles of Macroeconomics McGraw-Hill


Avoiding excessive reliance on formal mathematical derivations, Frank and Bernanke presents concepts intuitively through examples drawn from familiar contexts. The authors introduce a well-articulated short list of core principles and reinforce them by illustrating and applying each in numerous contexts. Students are periodically asked to apply these principles to answer related questions and exercises. The text also encourages students to become "Economic Naturalists," people who employ basic economic principles to understand and explain what they observe in the world around them. An economic naturalist understands, for example, that infant safety seats are required in cars but not in airplanes because the marginal cost of space to accommodate these seats is typically zero in cars but often hundreds of dollars in airplanes. Such examples engage student interest while teaching them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation.Expanded Discussion of Macroeconomic Policy: The revised monetary policy reaction function we introduce in Chapter 27 is a more realistic description of how the Fed actually conducts monetary policy and clarifies the Taylor rule. In Chapter 28 we use this policy reaction function to help students distinguish between a move along the aggregate demand curve and a shift in the aggregate demand curve resulting from a change in monetary policy. In a new Chapter 29, we provide a more complete analysis of the interaction between fiscal and monetary policy, illustrating the crucial role of the central bank in any long-run inflation. We also discuss how enhanced credibility can help to anchor inflationary expectations and explain the contributions of central bank independence, inflation targeting, and central bank reputation. In the last section of Chapter 29 we expand our discussion of the real-world difficulties in conducting macroeconomic policy. Expanded Discussion of Supply-Side Economics: Most economists agree that changes in marginal tax rates can affect both aggregate demand and aggregate supply, but they disagree on the size of the effects. In Chapter 28 we describe this controversy in greater detail and present both the theoretical and empirical evidence of the effects of changes in marginal tax rates on aggregate supply. Greater Attention to Asset Prices: In Chapter 21 we provide a clearer explanation of the inverse relationship between bond prices and interest rates. We also discuss the effects of changes in asset prices (especially stocks and houses) on aggregate demand. Additional Material on China: At its current rate of growth the Chinese economy may become the largest economy in the world within the next generation. In this edition we expand our discussion of China in the world economy. We discuss the determinants of its success and its management of its exchange rate. New Material on the Acceleration of Productivity Growth: The productivity slowdown of 1973-1995 has been followed by surprisingly strong productivity growth. We present and discuss the reasons for this acceleration. Updated Discussion of Saving and Investment: In addition to emphasizing the importance of public and private saving and the relationship between the budget deficit, national saving, and capital flows, we discuss the recently divergent trends in business and household saving. An Emphasis on Core Principles: A few core principles do most of the work in economics. By focusing on these principles, the text assures that students leave the course with a deep mastery of them. In contrast, traditional encyclopedic texts so overwhelm students with detail that they often leave the course with little useful working knowledge at all. Economic Naturalism Introduced: The authorsĹź ultimate goal is to produce Ĺźeconomic naturalistsĹź--people who see each human action as the result of an implicit or explicit cost-benefit calculation. The economic naturalist sees mundane details of ordinary existence in a new light and becomes actively engaged in the attempt to understand them. o Why donĹźt auto manufacturers make cars without heaters? o Why are whales, but not chickens, threatened with extinction? o Why do movie theaters give student discounts on the price of admission but not on the price of popcorn?


Globalization & its Discontents - 2212824606

36,60 zł

Globalization & its Discontents Penguin


Our world is changing. Globalization is not working. It is hurting those it was meant to help. And now, the tide is turning


Janet Yellen - 2845101924

72,46 zł

Janet Yellen Anaphora Literary Press

Książki / Literatura obcojęzyczna

The Federal Reserve (Fed), organized in 1913, is the central bank of the United States. The Fed is a governmental agency in charge of the nation's monetary policy and the chair of this institution holds one of the most powerful jobs in the world. Why? The United States has the largest economic system of any nation, at near $18 trillion. Janet Yellen was appointed Chair of the Board of Governors of the Federal Reserve System in 2014, serving as Vice Chair prior to the appointment. In 2014, Forbes ranked Yellen the second most powerful women in the world. Yellen is Professor Emeritus at the University of California at Berkeley, having had a long-term academic career. She also served as President and Chief Executive Officer of the Federal Reserve Bank of San Francisco. An asset for the student preparing a biographical work, Janet Yellen: Federal Reserve Chair, provides a peek into the life of the famous central banker. The reader will learn about Yellen's early life, academic and professional career, and economic leanings. Terms and quizzes allow the reader to study the structure and functions of the complex Federal Reserve System.


Great Contraction 1929-1933 - 2826886304

169,19 zł

Great Contraction 1929-1933 UNIVERSITY PRESSES

Książki / Literatura obcojęzyczna

Friedman and Schwartz's "A Monetary History of the United States, 1867-1960", published in 1963, stands as one of the most influential economics books of the twentieth century. A landmark achievement, the book marshalled massive historical data and sharp analytics to support the claim that monetary policy - steady control of the money supply - matters profoundly in the management of the nation's economy, especially in navigating serious economic fluctuations. The chapter, entitled "The Great Contraction, 1929-33," addressed the central economic event of the century, the Great Depression. Published as a stand-alone paperback in 1965, "The Great Contraction, 1929-1933" argued that the Federal Reserve could have stemmed the severity of the Depression, but failed to exercise its role of managing the monetary system and ameliorating banking panics.The book served as a clarion call to the monetarist school of thought by emphasizing the importance of the money supply in the functioning of the economy - a concept that has come to inform the actions of central banks worldwide. This edition of the original text includes a new preface by Anna Jacobson Schwartz, as well as a new introduction by the economist Peter Bernstein. It also reprints comments from the current Federal Reserve chairman Ben Bernanke, originally made on the occasion of Milton Friedman's 90th birthday, on the enduring influence of Friedman and Schwartz's work and vision.


The Unlikely Governor - 2852643072

115,78 zł

The Unlikely Governor Robert Heller

Książki / Literatura obcojęzyczna

A true American odyssey, Robert Heller chronicles the journey from his childhood in wartime Germany to the United States and his career that led him to become Governor of the Federal Reserve Board and the President and CEO of VISA U.S.A. After graduating from the now-defunct Parsons College and earning a doctorate from the University of California at Berkeley during the tumultuous Sixties, he sets out on a career as a college professor at UCLA. After that, he occupies leadership positions at the International Monetary Fund and Bank of America while the international financial system undergoes unprecedented change and turmoil. President Reagan appoints him to the powerful Board of Governors of the Federal Reserve System. He takes us behind the scenes at the Fed as he serves alongside with Paul Volcker and Alan Greenspan, revealing what went on behind closed doors in the formulation of U.S. monetary policy and during the banking crisis. He chronicles his return to the private sector, detailing the confused scenes as the credit card giant VISA is torn between chaos and order during his challenging service at the helm of that organization. The book concludes with an insider's candid and cogent observations of America's boardrooms and presents numerous lessons learned and obstacles overcome during the course of a most successful career.


Alliance for Healthy Cities - 2843911315

159,75 zł

Alliance for Healthy Cities Books on Demand

Książki / Literatura obcojęzyczna

Source: Wikipedia. Pages: 165. Chapters: Macau, Kobe, Ulan Bator, Busan, Phnom Penh, Huż, Gold Coast, Queensland, Las Pińas, Kuching, Parańaque, Taito, Tokyo, Muntinlupa, Marikina, Seoul, Suzhou, Songpa-gu, Jeju-do, Makati, Changwon, Dagupan, Nantong, Guro-gu, Pasig, Huai'an, Kunshan, Caloocan, Central and Western District, Logan City, Valencia, Bukidnon, Tagaytay, San Fernando, La Union, Changshu, Sai Kung District, Muju, Seodaemun-gu, City of Casey, Gangnam-gu, Yeongdeungpo-gu, Jung-gu, Seoul, Andong, Seocho-gu, Sha Tin District, Illawarra, Chuncheon, Yongsan-gu, Jinju, Dongjak-gu, Suncheon, Jeollanam-do, Kwun Tong District, City of Townsville, Kwai Tsing District, Gangdong-gu, Seongdong-gu, Gwangjin-gu, Luohu District, Zhangjiagang, Kowloon, Sokcho, Seongbuk-gu, City of Marion, Dobong-gu, Tai Po District, Tsuen Wan District, Ichikawa, Chiba, Jeonju, Yamato, Kanagawa, Islands District, Donghae City, Hwaseong, Gyeonggi, Municipality of Kiama, Buyeo County, Taicang, North District, Hong Kong, Southern District, Hong Kong, Hadong, Gwangmyeong, Yau Tsim Mong District, Asan, Geumsan, Wonju, Jangheung, Fukuroi, Shizuoka, Yangsan, Wujiang, Jiangsu, Seosan, Buk-gu, Ulsan, Siheung, Uiwang, Namhae, Miyakojima, Okinawa, Kowloon City District, Tajimi, Gifu, Jecheon, Wando, Jincheon, Taebaek, Abiko, Chiba, Yanggu, Gangwon, Busanjin-gu, Jangsu, Yangpyeong, Owariasahi, Aichi, Yeongi, Nagareyama, Chiba, Obu, Aichi, Dong-gu, Gwangju. Excerpt: Macau (traditional Chinese: ; simplified Chinese: ), also spelled Macao ( ), is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China. It lies on the western side of the Pearl River Delta, bordering Guangdong province to the north and facing the South China Sea to the east and south. The territory's economy is heavily dependent on gambling and tourism but also includes manufacturing. Macau was a Portuguese colony and both the first and last European colony in China. Portuguese traders first settled in Macau in the 16th century and subsequently administered the region until the handover on 20 December 1999. The Sino-Portuguese Joint Declaration and the Basic Law of Macau stipulate that Macau operates with a high degree of autonomy until at least 2049, fifty years after the transfer. Under the policy of "one country, two systems", the PRC's Central People's Government is responsible for the territory's defense and foreign affairs, while Macau maintains its own legal system, police force, monetary system, customs policy, and immigration policy. Macau participates in many international organizations and events that do not require members to possess national sovereignty. According to the CIA factbook, Macau has the second highest life expectancy in the world. Before the Portuguese settlement in the early 16th century, Macau was known as Haojing (Oyster Mirror) or Jinghai (Mirror Sea). The name Macau is thought to be derived from the A-Ma Temple (traditional Chinese: ; Jyutping: Maa1 Gok3 Miu6), a temple built in 1448 dedicated to Matsu - the goddess of seafarers and fishermen. It is said that when the Portuguese sailors landed at the coast just outside the temple and asked the name of the place, the natives replied "żż" (Jyutping: Maa1 Gok3). The Portuguese then named the peninsula "Macau". The present Chinese name (żż) means "Inlet Gates". The history of Macau is traced back to the Qin Dynasty (221-206 BC), when the regio


America's Great Depression - 2826910334

92,82 zł

America's Great Depression BERTRAMS

Książki / Literatura obcojęzyczna

Rothbard opens with a theoretical treatment of business cycle theory, showing how an expansive monetary policy generates imbalances between investment and consumption. He proceeds to examine the Fed's policies of the 1920s, demonstrating that it was quite inflationary even if the effects did not show up in the price of goods and services. He showed that the stock market correction was merely one symptom of the investment boom that led inevitably to a bust. The Great Depression was not a crisis for capitalism but merely an example of the downturn part of the business cycle, which in turn was generated by government intervention in the economy. Had the book appeared in the 1940s, it might have spared the world much grief. Even so, its appearance in 1963 meant that free-market advocates had their first full-scale treatment of this crucial subject. The damage to the intellectual world inflicted by Keynesian- and socialist-style treatments would be limited from that day forward.


Learning from the South Korean Developmental Success - 2850283533

603,48 zł

Learning from the South Korean Developmental Success PALGRAVE MACMILLAN

Książki / Literatura obcojęzyczna

This edited volume presents lessons for development in the 21st century through an analysis of South Korea's development experience. The question of how the collaboration between state and society has contributed to capability enhancement is examined. The papers of the volume aim to understand the complementarity between economic and social policies. Looking beyond the conventional analytical scope of South Korean developmental state, they focus on the institutional mechanisms enabling the state and society to establish complementary policies, the actors involved and the consequences of the choices in the policy areas of aid, industrial, labour market, fiscal and monetary policies, social policy, rural development, environment, and gender to identify relevant lessons for developing countries in the 21st century. This volume considers the institutions and policies of South Korea between 1945 and 2000. Framing social policies as a set of policies to enhance individual and societal capability, this volume shows how a wide range of policies were formulated to complement each other in protective, reproductive, productive and redistributive spheres for economic and social development. In particular, it includes the periods of state-building prior to the rapid industrialisation of the 1960s, 1970s, and 1980s and the responses to Asian Economic Crisis in the 1990s, which identified the institutional foundations and legacies for Korea's successful development. This book is indispensable reading for all interested in development economics, macroeconomics, institutional economics, political economy, migration studies, gender studies and international relations.


Italy and Albania - 2846348024

580,04 zł

Italy and Albania I B TAURIS

Książki / Literatura obcojęzyczna

The first full and comprehensive examination of the turbulent financial and economic relationship between Italy and Albania in the twentieth century, which throws new light on Italian Fascist imperialism. "Italy and Albania" retraces the complicated foreign and economic strategy that led in 1939 to the "union of the two crowns" of Italy and Albania. Drawing on original research, Roselli shows how Italy's strategy towards Albania veered between the extremes of a minimum of economic penetration and a maximum of political interference. He shows how, from an Albanian perspective, King Zog's policy was an impossible balancing act between the conflicting interests of foreign powers. Often presented as a trophy of Fascist foreign policy, the Italian experience in Albania in the interwar period can be regarded as a major economic failure. The huge inflow of Italian capital to Albania - consisting almost entirely of government money - failed not only to set in motion a stable expansion of the Albanian economy but also to produce a return for Italy in terms of the exploitation of the country's natural resources or its trade with Albania. Contemporary observers were impressed by the strength of Albania's currency, its monetary regime based on the gold standard, and its strong balance of payments. But this was largely window dressing, behind which there was an extremely backward economy that siphoned resources out of Italy, without that country gaining any appreciable advantage. Seen in this light, the events of 1939 -the Italian occupation of Albania and the Union between the two countries - become the inevitable consequence of a state of economic affairs that was unacceptable to Fascist Italy. Italy's involvement in Albania did not end with the defeat of Fascism, as the long international controversy surrounding the gold of the Albanian Central Bank demonstrates. This book makes a major contribution to our understanding of the history of both countries and the make up of Europe today.


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