Coverart for item
The Resource Competition and monopoly in the Federal Reserve System, 1914-1951 : a microeconomics approach to monetary history, Mark Toma, (electronic resource)

Competition and monopoly in the Federal Reserve System, 1914-1951 : a microeconomics approach to monetary history, Mark Toma, (electronic resource)

Label
Competition and monopoly in the Federal Reserve System, 1914-1951 : a microeconomics approach to monetary history
Title
Competition and monopoly in the Federal Reserve System, 1914-1951
Title remainder
a microeconomics approach to monetary history
Statement of responsibility
Mark Toma
Title variation
Competition & Monopoly in the Federal Reserve System, 1914–1951
Creator
Subject
Language
eng
Summary
Competition among central banks in a monetary union is thought to result in an over issue problem, which has its roots in the view that moneys produced by competitive central banks are perfect substitutes for each other. In the conventional set-up over issue can be overcome by granting a central bank exclusive rights to conduct monetary policy. In this book Mark Toma explores the workings of the early Federal Reserve System as a basis for challenging the conventional wisdom. He is able to show that competition among reserve banks in the 1920s did not result in an issue of Fed money. Rather the main effect of competitive structure was to cause reserve banks to make substantial interest payments to the private banking system in place of transfers to the US government. The book emphasizes the evolution of the Federal Reserve from a competitive to a monopolistic structure.--
Member of
Assigning source
Provided by publisher
Cataloging source
UkCbUP
http://library.link/vocab/creatorName
Toma, Mark
Index
index present
Literary form
non fiction
Nature of contents
dictionaries
Series statement
  • Studies in macroeconomic history
  • Cambridge Social Sciences eBooks
http://library.link/vocab/subjectName
  • Federal Reserve banks
  • Monetary policy
Label
Competition and monopoly in the Federal Reserve System, 1914-1951 : a microeconomics approach to monetary history, Mark Toma, (electronic resource)
Link
http://ezproxy.eui.eu/login?url=https://doi.org/10.1017/CBO9780511559761
Instantiates
Publication
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
1. Introduction -- 2. Microeconomics of the reserve industry -- 3. Peculiar economics of the founding of the Fed -- 4. Interest on reserves and reserve smoothing in a correspondent banking system -- 5. Competitive open market operations -- 6. High tide of the Federal Reserve System? -- 7. The Fed, executive branch and public finance, 1934-1939 -- 8. World War II financing -- 9. Historical lessons
Control code
CR9780511559761
Dimensions
unknown
Extent
1 online resource (xiv, 132 pages)
Form of item
online
Governing access note
Use of this electronic resource may be governed by a license agreement which restricts use to the European University Institute community. Each user is responsible for limiting use to individual, non-commercial purposes, without systematically downloading, distributing, or retaining substantial portions of information, provided that all copyright and other proprietary notices contained on the materials are retained. The use of software, including scripts, agents, or robots, is generally prohibited and may result in the loss of access to these resources for the entire European University Institute community
Isbn
9780511559761
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
digital, PDF file(s).
Specific material designation
remote
System control number
(OCoLC)715185445
Label
Competition and monopoly in the Federal Reserve System, 1914-1951 : a microeconomics approach to monetary history, Mark Toma, (electronic resource)
Link
http://ezproxy.eui.eu/login?url=https://doi.org/10.1017/CBO9780511559761
Publication
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
1. Introduction -- 2. Microeconomics of the reserve industry -- 3. Peculiar economics of the founding of the Fed -- 4. Interest on reserves and reserve smoothing in a correspondent banking system -- 5. Competitive open market operations -- 6. High tide of the Federal Reserve System? -- 7. The Fed, executive branch and public finance, 1934-1939 -- 8. World War II financing -- 9. Historical lessons
Control code
CR9780511559761
Dimensions
unknown
Extent
1 online resource (xiv, 132 pages)
Form of item
online
Governing access note
Use of this electronic resource may be governed by a license agreement which restricts use to the European University Institute community. Each user is responsible for limiting use to individual, non-commercial purposes, without systematically downloading, distributing, or retaining substantial portions of information, provided that all copyright and other proprietary notices contained on the materials are retained. The use of software, including scripts, agents, or robots, is generally prohibited and may result in the loss of access to these resources for the entire European University Institute community
Isbn
9780511559761
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
digital, PDF file(s).
Specific material designation
remote
System control number
(OCoLC)715185445

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