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Könyv Monetary Policy and the Onset of the Great Depression Mark Toma

Monetary Policy and the Onset of the Great Depression

Szerző: Mark Toma
Nyelv: Angol
Kötés: Kemény kötésű
Kiadó: Palgrave Macmillan
Elérhetőség: Beszállítói készleten alacsony példányszámban
Küldés 13-18 napon belül
21 406 Ft
Monetary Policy and the Onset of the Great Depression challenges Milton Friedman and Anna Schwartz's...

Információk a könyvről

Szerző
Mark Toma
Nyelv
Angol
Kötés
Könyv - Kemény kötésű
Kiadva
2013
oldal
214
EAN
9781137372543
ISBN
1137372540
Enbook ID
02096186
Kiadó
Palgrave Macmillan
Súly
492
Méretek
164 x 239 x 18

Teljes leírás

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.

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