The Role of Financial Stability and Optimal Seigniorage in Explaining Nominal Interest Rate Smoothing by the Federal Reserve PDF Download
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Author: Jeffrey L. Johnson
Publisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 224
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Book Description
Author: Jeffrey L. Johnson
Publisher:
ISBN:
Category : Equilibrium (Economics)
Languages : en
Pages : 224
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Book Description
Author: Richard Dennis
Publisher:
ISBN:
Category : Monetary policy
Languages : en
Pages : 42
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Book Description
Author: Brian Sack
Publisher:
ISBN:
Category : Interest rates
Languages : en
Pages : 54
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Book Description
Author: Sanjay K. Chugh
Publisher:
ISBN:
Category : Monetary policy
Languages : en
Pages : 35
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Book Description
Author: Andrea Ajello
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Richard T. Froyen
Publisher:
ISBN:
Category :
Languages : en
Pages : 29
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Book Description
Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 480
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Author:
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 782
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Book Description
Author: Catherine England
Publisher: Springer Science & Business Media
ISBN: 9400932774
Category : Business & Economics
Languages : en
Pages : 350
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Book Description
In Chapter 5, William Shughart also considers the part that politics played in banking legislation during the 1930s, but he looks at the banking legislation passed in the United States. Shughart draws par ticular attention to the provisions in the Banking Act of 1933 that required the separation of commercial and investment banking activ ities. Applying a public choice analysis, Shughart asks who gained from the provisions, and he concludes that the commercial banking industry, the investment banking industry, and the U. S. Treasury Department can all be said to have benefited in the years immedi ately following the passage of the act. Richard Timberlake, in his comment, extends Shughart's analysis to show how the federal gov ernment manipulated the monetary policy of the 1930s for its own benefit. The history of the regulation of the savings and loan industry is the subject of Chapter 6. James Barth and Martin Regalia examine the way in which regulation of the industry has evolved since the first savings and loan was established in the 1830s. They conclude that the stated purpose of regulation appears to have changed, even while the regulations themselves often have not. Barth and Regalia provide some important insights into the contribution of thrift regu lation to the current problems facing the indusb-y as well as some suggestions about the direction reform should-and should not take.
Author: Mr.Jaromir Benes
Publisher: International Monetary Fund
ISBN: 1475505523
Category : Business & Economics
Languages : en
Pages : 71
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Book Description
At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.
