The Historical Performance of the Federal Reserve: The Importance of Rules
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- Synopsis
- Distinguished economist Michael D. Bordo argues for the importance of monetary stability and monetary rules, offering theoretical, empirical, and historical perspectives to support his case. He shows how the pursuit of stable monetary policy guided by central banks following rule-like behavior produces low and stable inflation, stable real performance, and encourages financial stability. In contrast, he explains how the failure to adhere to rules that produce monetary stability will inevitably produce the dire consequences of real, nominal, and financial instability. Bordo also examines the performance of the Federal Reserve and he reviews the history of monetary policy during the Great Depression.
- Copyright:
- 2019
Book Details
- Book Quality:
- Publisher Quality
- ISBN-13:
- 9780817922160
- Related ISBNs:
- 9780817922146
- Publisher:
- Hoover Institution Press
- Date of Addition:
- 04/18/23
- Copyrighted By:
- the Board of Trustees of the Leland Stanford Junior University.
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.