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Was the Great Depression a Watershed for American Monetary Policy?

Calomiris, Charles W. - 1997

The Great Depression changed the institutions governing monetary policy. These changes included the departure from the gold standard, an opening of a a new avenue for monetizing government debt, changes in the structure of the the Federal Reserve System, and new monetary powers of the Treasury....

Persistent link: https://www.econbiz.de/10012472858

Could Stable Money Have Averted The Great Contraction?

Bordo, Michael D. - 1993

We test the hypothesis that the Great Contraction would have been attenuated had the Fed not allowed the money stock to decline. We do so by simulating a model that estimates separate relations for output and the price level and assumes that output and price dynamics are not especially sensitive...

Persistent link: https://www.econbiz.de/10012474464

The History and Economics of Safe Assets

Gorton, Gary B. - 2016

Safe assets play a critical role in an(y) economy. A "safe asset" is an asset that is (almost always) valued at face value without expensive and prolonged analysis. That is, by design there is no benefit to producing (private) information about its value. And this is common knowledge....

Persistent link: https://www.econbiz.de/10012456465

Price Inertia and Policy Ineffectiveness in the United States, 1890-1980

Gordon, Robert J. - 1981

This paper introduces a new approach to the empirical testing of the Lucas- Sargent-Wallace (LSW) "policy ineffectiveness proposition." Instead of testing that hypothesis in isolation from any plausible alternative, the paper develops a single empirical equation explaining price change that...

Persistent link: https://www.econbiz.de/10012478371

Inflation, War Bonds, and the Rise of Republicans in the 1950s

Brunet, Gillian; Hilt, Eric; Jaremski, Matthew S. - National Bureau of Economic Research - 2023

We study the role of war bonds and inflation in the presidential elections of the 1950s. During World War II, the … promotion of savings bonds made Americans more sensitive to the high inflation that prevailed after the war, contributing to …

Persistent link: https://www.econbiz.de/10014447290

A monetary history of the United States : 1867-1960

Friedman, Milton; Schwartz, Anna Jacobson - 1963 - 4. printing

Persistent link: https://www.econbiz.de/10000608739

Greenback Resumption and Silver Risk : The Economics and Politics of Monetary Regime Change in the United States, 1862-1900

Calomiris, Charles W. - 1992

prices, using annual data for the national banking period. Once one takes account of shifting expectations of inflation …

Persistent link: https://www.econbiz.de/10012474802

The Contribution of a Monetary History of the United States : 1867 to 1960 To Monetary History

Bordo, Michael D. - 1988

This paper assesses the role of Friedman and Schwartz's "A Monetary History of the United Slates: 1867 to 1960" as a progenitor of research in monetary history. The paper critically surveys the literature on three major themes in the book: monetary disturbances; the domestic monetary framework...

Persistent link: https://www.econbiz.de/10012476518

Reading the Recent Monetary History of the U.S., 1959-2007

Fernández-Villaverde, Jesús - 2010

fall of the great American inflation from the late 1960s to the early 1980s and of the great moderation of business cycle … outcomes across these periods is attributed to the time-varying volatility of shocks. The history for inflation is more nuanced …, as a more vigorous stand against it would have reduced inflation in the 1970s, but not completely eliminated it. In …

Persistent link: https://www.econbiz.de/10012462722

The U.S. Constitution and Monetary Powers : An Analysis of the 1787 Constitutional Convention and Constitutional Transformation of the Nation's Monetary System Emerged

Grubb, Farley - 2005

The monetary powers embedded in the U.S. Constitution were revolutionary and led to a watershed transformation in the nation's monetary structure. They included determining what monies could be legal tender, who could emit fiat paper money, and who could incorporate banks. How the debate at the...

Persistent link: https://www.econbiz.de/10012466888

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