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The Resource Monetary policy and the onset of the Great Depression : the myth of Benjamin Strong as decisive leader, Mark Toma

Monetary policy and the onset of the Great Depression : the myth of Benjamin Strong as decisive leader, Mark Toma

Label
Monetary policy and the onset of the Great Depression : the myth of Benjamin Strong as decisive leader
Title
Monetary policy and the onset of the Great Depression
Title remainder
the myth of Benjamin Strong as decisive leader
Statement of responsibility
Mark Toma
Creator
Subject
Language
eng
Summary
"Monetary Policy and the Onset of the Great Depression" challenges Milton Friedman and Anna Schwartz's now-consensus view that the high tide of the Federal Reserve System in the 1920s was due to the leadership skills of Benjamin Strong, head of the Federal Reserve Bank of New York. In this new work, Toma develops a self-regulated model of the Federal Reserve, which stands in contrast to a conventional discretionary model. Given the easy redemption of dollars for gold and the competition among Reserve banks, the self-regulated model implies that the early Fed could control neither the money supply nor the price level. Exploiting an untapped data set, later chapters test the thesis of self-regulation by focusing on the monetary decisions of individual Reserve banks. The micro-based evidence indicates that "Reserve banks really did compete" and that Benjamin Strong as decisive leader during the 1920s is a myth. This finding, with its emphasis on monetary policy in the years leading up to the Great Depression, will be of interest to scholars, students, and sophisticated lay readers with an interest in macroeconomic and monetary economic policy issues, specifically to those with an interest in economic history".--
Assigning source
Provided by publisher
Cataloging source
StDuBDS
http://library.link/vocab/creatorName
Toma, Mark
Dewey number
332.112097309042
Illustrations
illustrations
Index
index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/subjectName
  • Strong, Benjamin
  • Board of Governors of the Federal Reserve System (U.S.)
  • Monetary policy
  • Depressions
  • Federal Reserve banks
  • United States
Label
Monetary policy and the onset of the Great Depression : the myth of Benjamin Strong as decisive leader, Mark Toma
Instantiates
Publication
Bibliography note
Includes bibliographical references (pages 209-210) and index
Carrier category
volume
Carrier MARC source
rdacarrier.
Content category
  • text
  • still image
Content type MARC source
  • rdacontent.
  • rdacontent.
Contents
1. Monetary Policy as Scapegoat -- 2. Founding of the Federal Reserve System -- 3. Beyond the Founders' Vision : Benjamin Strong as Decisive Leader or Figurehead? -- 4. Modeling Discretion versus Self-Regulation -- 5. The Riefler-Burgess Doctrine -- 6. Coming to Terms with the Scissors Effect -- 7. Austrian and Monetarist Theories of the Onset of the Great Depression -- 8. Coming to Terms with Benjamin Strong -- 9. Did Reserve Banks 'Really' Compete? -- 10. The seductiveness of the decisive leader view
Control code
FIEb1752006x
Dimensions
24 cm.
Edition
First edition.
Extent
xix, 214 pages
Isbn
9781137372543
Media category
unmediated
Media MARC source
rdamedia.
Other physical details
illustrations
System control number
  • (Uk)016515616
  • (StEdALDL)1/3111349
  • (OCoLC)861318686
Label
Monetary policy and the onset of the Great Depression : the myth of Benjamin Strong as decisive leader, Mark Toma
Publication
Bibliography note
Includes bibliographical references (pages 209-210) and index
Carrier category
volume
Carrier MARC source
rdacarrier.
Content category
  • text
  • still image
Content type MARC source
  • rdacontent.
  • rdacontent.
Contents
1. Monetary Policy as Scapegoat -- 2. Founding of the Federal Reserve System -- 3. Beyond the Founders' Vision : Benjamin Strong as Decisive Leader or Figurehead? -- 4. Modeling Discretion versus Self-Regulation -- 5. The Riefler-Burgess Doctrine -- 6. Coming to Terms with the Scissors Effect -- 7. Austrian and Monetarist Theories of the Onset of the Great Depression -- 8. Coming to Terms with Benjamin Strong -- 9. Did Reserve Banks 'Really' Compete? -- 10. The seductiveness of the decisive leader view
Control code
FIEb1752006x
Dimensions
24 cm.
Edition
First edition.
Extent
xix, 214 pages
Isbn
9781137372543
Media category
unmediated
Media MARC source
rdamedia.
Other physical details
illustrations
System control number
  • (Uk)016515616
  • (StEdALDL)1/3111349
  • (OCoLC)861318686

Library Locations

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      43.803074 11.283055
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