The Historical Performance of the Federal Reserve: The Importance of Rules Volume 695 (Hardcover) (ISBN-13: 9780817922146)

Distinguished economist Michael D. Bordo argues for the importance of monetary stability and monetary rules, offering theoretical, empirical, and historical perspectives to support his case. He shows how the pursuit of stable monetary policy guided by central banks following rule-like behavior produces low and stable inflation, stable real performance, and encourages financial stability. In contrast, he explains how the failure to adhere to rules that produce monetary stability will inevitably produce the dire consequences of real, nominal, and financial instability. Bordo also examines the performance of the Federal Reserve and he reviews the history of monetary policy during the Great Depression.

Author: Michael D. Bordo
ISBN-10: 0817922148
ISBN-13: 9780817922146
Publisher: Hoover Institution Press
Language: English
Published: 06/01/2019
Pages: 648
Format: Hardcover
Weight: 2.55lbs
Size: 9.10h x 6.40w x 1.80d