Includes descriptive metadata provided by producer in QuickTime movie file: "Politics, Economics and Social Issues - Video - Paul Volcker talks about the economic crisis." By Vanderbilt University. Paul A. Volcker, senior economic advisor to President Obama and former chairman of the Federal...

With the introduction of monetary union, the US Federal Reserve system has become a common reference point against which to compare the procedures and policies of the fledgling ECB. This paper provides a brief overview of US monetary policy. The paper discusses the legal and institutional...

Using data from the period 1970-1991, Romer and Romer (2000) showed that Federal Reserve forecasts of inflation and output were superior to those provided by commercial forecasters. In this paper, we show that this superior forecasting performance deteriorated after 1991. Over the decade...

Using data from the period 1970-1991, Romer and Romer (2000) showed that Federal Reserve forecasts of inflation and output were superior to those provided by commercial forecasters. In this paper, we show that this superior forecasting performance deteriorated after 1991. Over the decade...

This paper investigates the discount rate policies of five Federal Reserve chairmen: Martin, Burns, Miller, Volcker and Greenspan. Both in terms of the reasons given for making discount rate changes and the frequency of discount rate changes, the discount rate policies of Martin and Greenspan...

The Federal Reserve Act erected a unique structure of government decision­making, independent with elaborate rules balancing internal power. Historical evidence suggests that this outcome was a response to public conflict over inflation's redistributive powers. This paper documents and...