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The Historical Performance of the Federal Reserve
Michael D. Bordo
其他書名
The Importance of Rules
出版Hoover Press, 2019-06-01
主題Business & Economics / Money & Monetary PolicyBusiness & Economics / Economics / General
ISBN08179221649780817922160
URLhttp://books.google.com.hk/books?id=_JaTDwAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋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.