The basic motivation for this book is my lifelong interest in the relationship between political processes and macroeconomic outcomes, especially in the area of monetary policy. Nowadays, monetary policy is an area where political considerations are believed by scholars to regularly impact upon econ...

Ausführliche Beschreibung

Bibliographische Detailangaben

1. Verfasser:	Havrilesky, Thomas (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Dordrecht Springer Netherlands 1995
Ausgabe:	2nd ed. 1995
Schlagworte:	Federal Reserve System > Board of Governors Geschichte 1914-1991 Geschichte 1914-1994 Macroeconomics/Monetary Economics//Financial Economics Finance, general Political Science Macroeconomics Finance Political science Geldpolitik USA
Online-Zugang:	DE-634 URL des Erstveröffentlichers
Zusammenfassung:	The basic motivation for this book is my lifelong interest in the relationship between political processes and macroeconomic outcomes, especially in the area of monetary policy. Nowadays, monetary policy is an area where political considerations are believed by scholars to regularly impact upon economic results. In contrast, when my interest in this subject began thirty years ago, the scholarly literature on monetary policy hardly ever mentioned systematic political influences. My dissertation at the University of Illinois in 1966 and my first article (in the Joumal of Political Economy in 1967) addressed the modeling and estimation of the concerns that propel monetary policy. In the political and economic turbulence of the period from the late 1960s through the early 1980s, it became clear that the directions taken by monetary policy were changing with some frequency. My research during that period dealt with models of monetary policy. In attempting to measure these changes, it suggested that monetary policy reactions to the state of the economy were not stable over time. During this period I became interested in reforms which might reduce the resulting instability in the economy. For example, my 1972 article in the Joumal of Political Economy suggested systematic penalties Federal Reserve officials who failed to meet the goal of monetary stability by tying their budgets or salaries inversely to the rate of inflation
Beschreibung:	1 Online-Ressource (XI, 381 p)
ISBN:	9789401106535
DOI:	10.1007/978-94-011-0653-5