The federal income tax exemption for state and local government securities has been a controversial issue for many years. Opponents of the exemption believe that it is inequitable, reduces risk investment by high-bracket taxpayers, and costs an excessive amount to the federal government. Proponents argue that elimination of the tax exemption would make the cost of borrowing money to many state and local governments prohibitive. The purpose of the study was to try to narrow down the differences among experts in taxation and the municipal bond market on the facts and analyses with regard to...
The federal income tax exemption for state and local government securities has been a controversial issue for many years. Opponents of the exemptio...
In this rigorous study of John Maynard Keynes's views on economic theory and policy from 1920-1946, Professor Meltzer argues that some of Keynes's main ideas have been ignored or misstated. While attention has focused on short-term countercyclical policies, the main policy implications have been neglected. Keynes placed great emphasis on rules, predictability, and reduction of uncertainty. In keeping with his theoretical work, he opposed discretionary fiscal changes and favored rules to reduce instability and increase the capital stock. These policies are consistent with, and provide evidence...
In this rigorous study of John Maynard Keynes's views on economic theory and policy from 1920-1946, Professor Meltzer argues that some of Keynes's mai...
This volume offers a perspective on a key issue of monetary economics. It addresses the theoretical aspects of this issue with the purpose of understanding their policy implications. It offers an historical overview on the relationship between money and output, and goes on to present Brunner's and Meltser's model of a monetary economy. Throughout the volume, their views are confronted with competing explanations in order to highlight differences. The monetarist flavour of the volume emerges most clearly in frequent arguments pointing to the relative stability of the private sector. A...
This volume offers a perspective on a key issue of monetary economics. It addresses the theoretical aspects of this issue with the purpose of understa...
Allan H. Meltzer's critically acclaimed history of the Federal Reserve is the most ambitious, most intensive, and most revealing investigation of the subject ever conducted. Its first volume, published to widespread critical acclaim in 2003, spanned the period from the institution's founding in 1913 to the restoration of its independence in 1951. This two-part second volume of the history chronicles the evolution and development of this institution from the Treasury-Federal Reserve accord in 1951 to the mid-1980s, when the great inflation ended. It reveals the inner workings of the Fed...
Allan H. Meltzer's critically acclaimed history of the Federal Reserve is the most ambitious, most intensive, and most revealing investigation of t...
Allan H. Meltzer s critically acclaimed history of the Federal Reserve is the most ambitious, most intensive, and most revealing investigation of the subject ever conducted. Its first volume, published to widespread critical acclaim in 2003, spanned the period from the institution s founding in 1913 to the restoration of its independence in 1951. This two-part second volume of the history chronicles the evolution and development of this institution from the Treasury Federal Reserve accord in 1951 to the mid-1980s, when the great inflation ended. It reveals the inner workings of the Fed...
Allan H. Meltzer s critically acclaimed history of the Federal Reserve is the most ambitious, most intensive, and most revealing investigation of t...
