{"product_id":"the-political-economy-of-american-monetary-policy-paperback-9780521446518","title":"The Political Economy of American Monetary Policy (Paperback) 9780521446518","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eThe Political Economy of American Monetary Policy\u003c\/font\u003e\u003cbr\u003e\r\n\r\n\r\n\u003c\/p\u003e\n\u003cp\u003e\u003cem\u003eAn analysis of the role of the Federal Reserve in monetary policy making in the United States.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eThomas Mayer (Edited by)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780521446518, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePaperback, published 29 January 1993\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e326 pages, 4 b\/w illus.  30 tables\u003cbr\u003e22.7 x 15.1 x 1.8 cm, 0.445 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\"In summary, this volume presents a diverse and comprehensive set of hypotheses of Federal Reserve behavior that many readers will find interesting.\"   Robert H. Rasche, Journal of Economic Literature\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eThis 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.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePreface\u003cbr\u003e 1. Introduction Thomas Mayer\u003cbr\u003e 2. Studying the Fed: towards a broader public choice perspective Thomas Willett\u003cbr\u003e 3. The Federal Reserve reaction function: a specification search Salwa Khouri\u003cbr\u003e 4. Corporate profitability as a determinant of restrictive monetary policy: estimates for the post-war United States Gerald Epstein and Juliet Schor\u003cbr\u003e 5. Federal reserve behavior since 1980: a financial market perspective William Melton and V. Vance Roley\u003cbr\u003e 6. The Federal Reserve and its institutional environment: a review Michael Munger and Brian Roberts\u003cbr\u003e 7. The political economy of monetary policy Robert Hetzel\u003cbr\u003e 8. Political monetary cycles Nathaniel Beck\u003cbr\u003e 9. Congress and the Fed: Why the dog does not bark in the night Nathaniel Beck\u003cbr\u003e 10. The Federal Reserve as a political power James Pierce\u003cbr\u003e 11. Monetary policy and political economy: the Federal Reserve and the Bank of Japan Thomas Cargill and Michael Hutchinson\u003cbr\u003e 12. A positive analysis of the policymaking process at the Federal Reserve Raymond Lombra and Nicholas Karamouzis\u003cbr\u003e 13. A theory of FOMC dissent voting with evidence from the time series Thomas Havrilesky and Robert Schweitzer\u003cbr\u003e 14. Explaining FOMC members' votes John Gildea\u003cbr\u003e 15. Fed behaviour and X-efficiency theory: toward a general framework Harinder Singh and Roger Frantz\u003cbr\u003e 16. Minimizing regret: cognitive dissonance as an explanation of FOMC behavior Thomas Mayer\u003cbr\u003e 17. The discount window William Poole\u003cbr\u003e 18. Leaning against the wind: the behavior of the money stock in recession and recovery, 1953–8 Elmus Wicker\u003cbr\u003e 19. Bureaucratic self-interest as an obstacle to monetary reform Edward Kane\u003cbr\u003e Index.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Macroeconomics [\u003ca title=\"See our other books on Macroeconomics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Macroeconomics%20%5BKCB%5D%22\"\u003eKCB\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46007449354520,"sku":"9780521446518","price":30.89,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9780521446518i_749479be-1ec7-4965-91ed-08fb3a0b8194.jpg?v=1691381995","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/the-political-economy-of-american-monetary-policy-paperback-9780521446518","provider":"Freshly Printed Books","version":"1.0","type":"link"}