The Strategy and Consistency of Federal Reserve Monetary Policy, 1924 1933 by Da

Description: The Strategy and Consistency of Federal Reserve Monetary Policy, 1924 1933 by David C. Wheelock Estimated delivery 3-12 business days Format Paperback Condition Brand New Description Today, most scholars agree that mismanaged monetary policy contributed to the length and severity of the Great Depression. There is little agreement, however, about the causes of the Federal Reserve's mistakes. Some argue that leadership and other organizational changes prior to the depression caused a distinct change in policy strategy that lessened the Fed's responsiveness to economic conditions, while others contend that there was no change in the Fed's behavior, and that errors during the depression are traceable to previous policies. This book examines the policy strategy developed by the Federal Reserve during the 1920s and considers whether its continued use could explain the Fed's failure to respond vigorously to the depression. It also studies the effects on policy of the institutional changes occurring prior to the depression. While these changes enhanced the authority of officials who opposed open-market purchases and also caused some upward bias in discount rates, Wheelock concludes that monetary policy during the depression was in fact largely a continuation of the previous policy. The apparent contrast in Fed responsiveness to economic conditions between the 1920s and early 1930s resulted from the consistent use of a procyclical policy strategy that caused the Fed to respond more vigorously to minor recessions than to severe depressions. Publisher Description Today, most scholars agree that mismanaged monetary policy contributed to the length and severity of the Great Depression. There is little agreement, however, about the causes of the Federal Reserves mistakes. Some argue that leadership and other organizational changes prior to the depression caused a distinct change in policy strategy that lessened the Feds responsiveness to economic conditions. Others contend that there was no change in Fed behavior, and that errors during the depression are traceable to previous policies. In this book, David C. Wheelock examines the policy strategy developed by the Federal Reserve during the 1920s and considers whether its continued use could explain the Feds failure to respond vigorously to the depression. He also studies the effects on policy of the institutional changes occurring prior to the depression. While these changes enhanced the authority of officials who opposed open-market purchases and also caused some upward bias in discount rates, Wheelock concludes that monetary policy during the depression was in fact largely a continuation of the previous policy.The apparent contrast in Fed responsiveness to economic conditions between the 1920s and early 1930s resulted from the consistent use of a procyclical policy strategy that caused the Fed to respond more vigorously to minor recessions than to severe depressions. Details ISBN 052153139X ISBN-13 9780521531399 Title The Strategy and Consistency of Federal Reserve Monetary Policy, 1924 1933 Author David C. Wheelock Format Paperback Year 2004 Pages 144 Publisher Cambridge University Press GE_Item_ID:7735395; About Us Grand Eagle Retail is the ideal place for all your shopping needs! With fast shipping, low prices, friendly service and over 1,000,000 in stock items - you're bound to find what you want, at a price you'll love! Shipping & Delivery Times Shipping is FREE to any address in USA. Please view eBay estimated delivery times at the top of the listing. Deliveries are made by either USPS or Courier. We are unable to deliver faster than stated. International deliveries will take 1-6 weeks. NOTE: We are unable to offer combined shipping for multiple items purchased. This is because our items are shipped from different locations. Returns If you wish to return an item, please consult our Returns Policy as below: Please contact Customer Services and request "Return Authorisation" before you send your item back to us. Unauthorised returns will not be accepted. Returns must be postmarked within 4 business days of authorisation and must be in resellable condition. Returns are shipped at the customer's risk. We cannot take responsibility for items which are lost or damaged in transit. For purchases where a shipping charge was paid, there will be no refund of the original shipping charge. Additional Questions If you have any questions please feel free to Contact Us. Categories Baby Books Electronics Fashion Games Health & Beauty Home, Garden & Pets Movies Music Sports & Outdoors Toys

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