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...

This paper develops an index of monetary policy signals from the Administration to the Federal Reserve based on articles which appeared in the Wall Street Journal in which Administration off icials express a desire for easier or tighter monetary policy. In reg ressions, the index has a...