The Memoranda of Discussion provide detailed records of Federal Open Market Committee (FOMC) meeting deliberations. Procedures are developed for coding the textual data in the Memoranda and assessing the reliability of those codings. The codings are then used in the estimation of parameters of...

This book provides pathbreaking statistical evidence on when the Administration tried to influence monetary policy and when the Federal Reserve did and did not respond. This revised edition provides the first statistical evidence on why the Federal Reserve behaved the way it did. Included in the...

The basic motivation underlying this book is the relationship between political processes and macroeconomic consequences, especially in the area of monetary policy. Monetary policy is an area where political considerations regularly impact upon economic results. In the politically and...