The Federal Reserve's Role in the Global Economy: A Historical Perspective

ISBN-13: 9781316506554 / Angielski / Miękka / 2020 / 343 str.

Michael D. Bordo; Mark A. Wynne

Opis

Based on a conference held as part of the US Federal Reserve System's centennial, this book critically evaluates the role of the Federal Reserve System in the international monetary system over the past one hundred years and looks ahead to the challenges it will face under the twenty-first-century fiat standard.

Recenzje

'The many papers in this volume celebrate the 100th anniversary of the Federal Reserve System by recounting vignettes from its history. An advantage of the volume is that it brings many perspectives through the papers and discussants. It should become the starting point for deeper research into several of the issues. I recommend it to students and the many professionals who follow the Fed and try to understand it.' Allan Meltzer, Carnegie Mellon Tepper School of Business

Spis treści

Preface; Conference speaker bios; 1. Introduction Michael Bordo and Mark Wynne; 2. Doctrinal determinants, domestic and international, of Federal Reserve policy 1914–33 Barry Eichengreen; Comments on Eichengreen Harold James; 3. Navigating constraints: the evolution of Federal Reserve monetary policy, 1935–59 Mark Carlson and David Wheelock; Comments on Carlson and Wheelock Gary Richardson; 4. Federal Reserve policy and Bretton Woods Michael Bordo and Owen Humpage; Comments on Bordo and Humpage James Boughton; 5. The Federal Reserve engages the world (1970–2000): an insider's narrative of the transition to managed floating and financial turbulence Edwin M. Truman; Comments on Truman Michael Dooley; 6. The Federal Reserve in a globalized world economy John Taylor; Comments on Taylor Richard Clarida; 7. Unprecedented actions: the Federal Reserve's response to the global financial crisis in historical perspective Frederic S. Mishkin and Eugene White; Comments on Mishkin and White Steven Kamin; 8. Panel discussion on the Federal Reserve's role in international financial crises featuring remarks by Donald Kohn, Charles Bean, Guillermo Ortiz and Stephen Cecchetti; 9. The Robert V. Roosa Lecture: excerpts from a conversation between Richard Fisher and Paul Volcker Richard Fisher and Paul Volcker.