Current Federal Reserve Policy under the Lens of Economic History: A Review Essay
Journal of Economic Literature
no. 3, September 2016
This review essay reviews the volume edited by Owen Humpage, Current Federal Reserve Policy under the Lens of Economic History: Essays to Commemorate the Federal Reserve System’s Centennial, and provides a broader perspective on central-banking issues. The papers in the Humpage volume address various aspects of central banking history, money, and private banking, with a focus on putting recent Fed policies in perspective. The topics covered include the role of the central bank as lender of last resort, the effects of open-market operations versus central-bank lending, central-bank independence, the political economy of monetary unions, financial crises, the effects of unconventional monetary policies, commodity monies, and the Canadian financial system as a natural experiment.
Williamson, Stephen, D.
"Current Federal Reserve Policy under the Lens of Economic History: A Review Essay."
Journal of Economic Literature,
Business Fluctuations; Cycles
Central Banks and Their Policies
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Financial Institutions and Services: Government Policy and Regulation
Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: General, International, or Comparative