The origins, history, and future of the Federal Reserve :: a return to Jekyll Island /
"This book contains essays presented at a conference held in November 2010 to mark the centenary of the famous 1910 Jekyll Island meeting of leading American financiers and the U.S. Treasury. The 1910 meeting resulted in the Aldrich Plan, a precursor to the Federal Reserve Act that was enacted...
Gespeichert in:
| Weitere Verfasser: | , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cambridge ; New York, NY :
Cambridge University Press,
2013.
|
| Schriftenreihe: | Studies in macroeconomic history.
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "This book contains essays presented at a conference held in November 2010 to mark the centenary of the famous 1910 Jekyll Island meeting of leading American financiers and the U.S. Treasury. The 1910 meeting resulted in the Aldrich Plan, a precursor to the Federal Reserve Act that was enacted by Congress in 1913. The 2010 conference, sponsored by the Federal Reserve Bank of Atlanta and Rutgers University, featured assessments of the Fed's near 100-year track record by prominent economic historians and macroeconomists. The final chapter of the book records a panel discussion of Fed policy making by the current and former senior Federal Reserve officials. ch1: "To Establish a More Effective Supervision of Banking:" How the Birth of the Fed Altered Bank Supervision Abstract Although bank supervision under the National Banking System exercised a light hand and panics were frequent, depositor losses were minimal. Double liability induced shareholders to carefully monitor bank managers and voluntarily liquidate banks early if they appeared to be in trouble. Inducing more disclosure, marking assets to market, and ensuring prompt closure of insolvent national banks, the Comptroller of the Currency reinforced market discipline. The arrival of the Federal Reserve weakened this regime. Monetary policy decisions conflicted with the goal of financial stability and created moral hazard. The appearance of the Fed as an additional supervisor led to more "competition in laxity" among regulators and "regulatory arbitrage" by banks. When the Great Depression hit, policy-induced deflation and asset price volatility were misdiagnosed as failures of competition and market valuation. In response, the New Deal shifted to a regime of discretion-based supervision with forbearance"-- |
| Beschreibung: | 1 online resource (xix 431 pages) : illustrations |
| Bibliographie: | Includes bibliographical references and index. |
| ISBN: | 9781107336506 1107336503 9781139005166 1139005162 9781107334847 1107334845 1107234956 9781107234956 1107326745 9781107326743 1107332451 9781107332454 1107333180 9781107333185 |
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| 245 | 0 | 4 | |a The origins, history, and future of the Federal Reserve : |b a return to Jekyll Island / |c edited by Michael D. Bordo, Rutgers University, New Jersey ; William Roberds, Federal Reserve Bank of Atlanta. |
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| 504 | |a Includes bibliographical references and index. | ||
| 588 | 0 | |a Online resource; title from e-book title screen (ebrary platform, viewed February 24, 2014). | |
| 520 | |a "This book contains essays presented at a conference held in November 2010 to mark the centenary of the famous 1910 Jekyll Island meeting of leading American financiers and the U.S. Treasury. The 1910 meeting resulted in the Aldrich Plan, a precursor to the Federal Reserve Act that was enacted by Congress in 1913. The 2010 conference, sponsored by the Federal Reserve Bank of Atlanta and Rutgers University, featured assessments of the Fed's near 100-year track record by prominent economic historians and macroeconomists. The final chapter of the book records a panel discussion of Fed policy making by the current and former senior Federal Reserve officials. ch1: "To Establish a More Effective Supervision of Banking:" How the Birth of the Fed Altered Bank Supervision Abstract Although bank supervision under the National Banking System exercised a light hand and panics were frequent, depositor losses were minimal. Double liability induced shareholders to carefully monitor bank managers and voluntarily liquidate banks early if they appeared to be in trouble. Inducing more disclosure, marking assets to market, and ensuring prompt closure of insolvent national banks, the Comptroller of the Currency reinforced market discipline. The arrival of the Federal Reserve weakened this regime. Monetary policy decisions conflicted with the goal of financial stability and created moral hazard. The appearance of the Fed as an additional supervisor led to more "competition in laxity" among regulators and "regulatory arbitrage" by banks. When the Great Depression hit, policy-induced deflation and asset price volatility were misdiagnosed as failures of competition and market valuation. In response, the New Deal shifted to a regime of discretion-based supervision with forbearance"-- |c Provided by publisher | ||
| 505 | 0 | |a "To establish a more effective supervision of banking" : how the birth of the Fed altered bank supervision / Eugene N. White ; Comment / Warren Weber -- The promise and performance of the Federal Reserve as lender of last resort 1914-1933 / Michael D. Bordo and David C. Wheelock ; Comment / Ellis W. Tallman -- Where it all began : lending of last resort at the Bank of England : monitoring during the Overend-Gurney panic of 1866 / Marc Flandreau and Stefano Ugolini ; Comment / Barry Eichengreen -- Volatile times and persistent conceptual errors : U.S. monetary policy, 1914-1951 / Charles W. Calomiris ; Comment / Allan H. Meltzer -- Government policy, credit markets, and economic activity / Lawrence J. Christiano and Daisuke Ikeda -- Policy debates at the Federal Open Market Committee, 1993-2002 / Marvin Goodfriend -- Two models of land overvaluation and their implications / Narayana R. Kocherlakota -- Panel discussion, November 6, 2010 / Ben S. Bernanke, E. Gerald Corrigan, and Alan Greenspan. | |
| 546 | |a English. | ||
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| adam_text | |
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| contents | "To establish a more effective supervision of banking" : how the birth of the Fed altered bank supervision / Eugene N. White ; Comment / Warren Weber -- The promise and performance of the Federal Reserve as lender of last resort 1914-1933 / Michael D. Bordo and David C. Wheelock ; Comment / Ellis W. Tallman -- Where it all began : lending of last resort at the Bank of England : monitoring during the Overend-Gurney panic of 1866 / Marc Flandreau and Stefano Ugolini ; Comment / Barry Eichengreen -- Volatile times and persistent conceptual errors : U.S. monetary policy, 1914-1951 / Charles W. Calomiris ; Comment / Allan H. Meltzer -- Government policy, credit markets, and economic activity / Lawrence J. Christiano and Daisuke Ikeda -- Policy debates at the Federal Open Market Committee, 1993-2002 / Marvin Goodfriend -- Two models of land overvaluation and their implications / Narayana R. Kocherlakota -- Panel discussion, November 6, 2010 / Ben S. Bernanke, E. Gerald Corrigan, and Alan Greenspan. |
| ctrlnum | (OCoLC)862077265 |
| dewey-full | 332.1/10973 |
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| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.1/10973 |
| dewey-search | 332.1/10973 |
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| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
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| genre | History fast |
| genre_facet | History |
| geographic | United States fast https://id.oclc.org/worldcat/entity/E39PBJtxgQXMWqmjMjjwXRHgrq |
| geographic_facet | United States |
| id | ZDB-4-EBU-ocn862077265 |
| illustrated | Illustrated |
| indexdate | 2024-11-26T14:49:11Z |
| institution | BVB |
| isbn | 9781107336506 1107336503 9781139005166 1139005162 9781107334847 1107334845 1107234956 9781107234956 1107326745 9781107326743 1107332451 9781107332454 1107333180 9781107333185 |
| language | English |
| lccn | 2012025995 |
| oclc_num | 862077265 |
| open_access_boolean | |
| owner | MAIN DE-863 DE-BY-FWS |
| owner_facet | MAIN DE-863 DE-BY-FWS |
| physical | 1 online resource (xix 431 pages) : illustrations |
| psigel | ZDB-4-EBU |
| publishDate | 2013 |
| publishDateSearch | 2013 |
| publishDateSort | 2013 |
| publisher | Cambridge University Press, |
| record_format | marc |
| series | Studies in macroeconomic history. |
| series2 | Studies in macroeconomic history |
| spelling | The origins, history, and future of the Federal Reserve : a return to Jekyll Island / edited by Michael D. Bordo, Rutgers University, New Jersey ; William Roberds, Federal Reserve Bank of Atlanta. Cambridge ; New York, NY : Cambridge University Press, 2013. 1 online resource (xix 431 pages) : illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier Studies in macroeconomic history Includes bibliographical references and index. Online resource; title from e-book title screen (ebrary platform, viewed February 24, 2014). "This book contains essays presented at a conference held in November 2010 to mark the centenary of the famous 1910 Jekyll Island meeting of leading American financiers and the U.S. Treasury. The 1910 meeting resulted in the Aldrich Plan, a precursor to the Federal Reserve Act that was enacted by Congress in 1913. The 2010 conference, sponsored by the Federal Reserve Bank of Atlanta and Rutgers University, featured assessments of the Fed's near 100-year track record by prominent economic historians and macroeconomists. The final chapter of the book records a panel discussion of Fed policy making by the current and former senior Federal Reserve officials. ch1: "To Establish a More Effective Supervision of Banking:" How the Birth of the Fed Altered Bank Supervision Abstract Although bank supervision under the National Banking System exercised a light hand and panics were frequent, depositor losses were minimal. Double liability induced shareholders to carefully monitor bank managers and voluntarily liquidate banks early if they appeared to be in trouble. Inducing more disclosure, marking assets to market, and ensuring prompt closure of insolvent national banks, the Comptroller of the Currency reinforced market discipline. The arrival of the Federal Reserve weakened this regime. Monetary policy decisions conflicted with the goal of financial stability and created moral hazard. The appearance of the Fed as an additional supervisor led to more "competition in laxity" among regulators and "regulatory arbitrage" by banks. When the Great Depression hit, policy-induced deflation and asset price volatility were misdiagnosed as failures of competition and market valuation. In response, the New Deal shifted to a regime of discretion-based supervision with forbearance"-- Provided by publisher "To establish a more effective supervision of banking" : how the birth of the Fed altered bank supervision / Eugene N. White ; Comment / Warren Weber -- The promise and performance of the Federal Reserve as lender of last resort 1914-1933 / Michael D. Bordo and David C. Wheelock ; Comment / Ellis W. Tallman -- Where it all began : lending of last resort at the Bank of England : monitoring during the Overend-Gurney panic of 1866 / Marc Flandreau and Stefano Ugolini ; Comment / Barry Eichengreen -- Volatile times and persistent conceptual errors : U.S. monetary policy, 1914-1951 / Charles W. Calomiris ; Comment / Allan H. Meltzer -- Government policy, credit markets, and economic activity / Lawrence J. Christiano and Daisuke Ikeda -- Policy debates at the Federal Open Market Committee, 1993-2002 / Marvin Goodfriend -- Two models of land overvaluation and their implications / Narayana R. Kocherlakota -- Panel discussion, November 6, 2010 / Ben S. Bernanke, E. Gerald Corrigan, and Alan Greenspan. English. Board of Governors of the Federal Reserve System (U.S.) http://id.loc.gov/authorities/names/n78091283 Board of Governors of the Federal Reserve System (U.S.) fast Federal Reserve banks History. Banks and banking, Central United States History. Monetary policy United States History. Banks of issue United States History. Banques de la Réserve fédérale Histoire. Banques centrales États-Unis Histoire. Politique monétaire États-Unis Histoire. BUSINESS & ECONOMICS Finance. bisacsh Banks and banking, Central fast Federal Reserve banks fast Monetary policy fast United States fast https://id.oclc.org/worldcat/entity/E39PBJtxgQXMWqmjMjjwXRHgrq History fast Bordo, Michael D., editor. Roberds, William, editor. has work: The Origins, History, and Future of the Federal Reserve (Text) https://id.oclc.org/worldcat/entity/E39PCGv8vHwdb9CHd8d8qHkhpP https://id.oclc.org/worldcat/ontology/hasWork Print version: Origins, history, and future of the Federal Reserve 9781107013728 (DLC) 2012025995 (OCoLC)798133510 Studies in macroeconomic history. http://id.loc.gov/authorities/names/n99047820 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=539294 Volltext |
| spellingShingle | The origins, history, and future of the Federal Reserve : a return to Jekyll Island / Studies in macroeconomic history. "To establish a more effective supervision of banking" : how the birth of the Fed altered bank supervision / Eugene N. White ; Comment / Warren Weber -- The promise and performance of the Federal Reserve as lender of last resort 1914-1933 / Michael D. Bordo and David C. Wheelock ; Comment / Ellis W. Tallman -- Where it all began : lending of last resort at the Bank of England : monitoring during the Overend-Gurney panic of 1866 / Marc Flandreau and Stefano Ugolini ; Comment / Barry Eichengreen -- Volatile times and persistent conceptual errors : U.S. monetary policy, 1914-1951 / Charles W. Calomiris ; Comment / Allan H. Meltzer -- Government policy, credit markets, and economic activity / Lawrence J. Christiano and Daisuke Ikeda -- Policy debates at the Federal Open Market Committee, 1993-2002 / Marvin Goodfriend -- Two models of land overvaluation and their implications / Narayana R. Kocherlakota -- Panel discussion, November 6, 2010 / Ben S. Bernanke, E. Gerald Corrigan, and Alan Greenspan. Board of Governors of the Federal Reserve System (U.S.) http://id.loc.gov/authorities/names/n78091283 Board of Governors of the Federal Reserve System (U.S.) fast Federal Reserve banks History. Banks and banking, Central United States History. Monetary policy United States History. Banks of issue United States History. Banques de la Réserve fédérale Histoire. Banques centrales États-Unis Histoire. Politique monétaire États-Unis Histoire. BUSINESS & ECONOMICS Finance. bisacsh Banks and banking, Central fast Federal Reserve banks fast Monetary policy fast |
| subject_GND | http://id.loc.gov/authorities/names/n78091283 |
| title | The origins, history, and future of the Federal Reserve : a return to Jekyll Island / |
| title_auth | The origins, history, and future of the Federal Reserve : a return to Jekyll Island / |
| title_exact_search | The origins, history, and future of the Federal Reserve : a return to Jekyll Island / |
| title_full | The origins, history, and future of the Federal Reserve : a return to Jekyll Island / edited by Michael D. Bordo, Rutgers University, New Jersey ; William Roberds, Federal Reserve Bank of Atlanta. |
| title_fullStr | The origins, history, and future of the Federal Reserve : a return to Jekyll Island / edited by Michael D. Bordo, Rutgers University, New Jersey ; William Roberds, Federal Reserve Bank of Atlanta. |
| title_full_unstemmed | The origins, history, and future of the Federal Reserve : a return to Jekyll Island / edited by Michael D. Bordo, Rutgers University, New Jersey ; William Roberds, Federal Reserve Bank of Atlanta. |
| title_short | The origins, history, and future of the Federal Reserve : |
| title_sort | origins history and future of the federal reserve a return to jekyll island |
| title_sub | a return to Jekyll Island / |
| topic | Board of Governors of the Federal Reserve System (U.S.) http://id.loc.gov/authorities/names/n78091283 Board of Governors of the Federal Reserve System (U.S.) fast Federal Reserve banks History. Banks and banking, Central United States History. Monetary policy United States History. Banks of issue United States History. Banques de la Réserve fédérale Histoire. Banques centrales États-Unis Histoire. Politique monétaire États-Unis Histoire. BUSINESS & ECONOMICS Finance. bisacsh Banks and banking, Central fast Federal Reserve banks fast Monetary policy fast |
| topic_facet | Board of Governors of the Federal Reserve System (U.S.) Federal Reserve banks History. Banks and banking, Central United States History. Monetary policy United States History. Banks of issue United States History. Banques de la Réserve fédérale Histoire. Banques centrales États-Unis Histoire. Politique monétaire États-Unis Histoire. BUSINESS & ECONOMICS Finance. Banks and banking, Central Federal Reserve banks Monetary policy United States History |
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