A History of Macroeconomic Policy in the United StatesKeynes asked whether his ‘visionary’ ideas would overcome the interests opposed to change. However, an examination of the histories of monetary and fiscal policies suggests that this is a false distinction. The interests and ideas associated with government policies are seldom opposed. The suspicion that the latter more often follows than confronts the former is supported by the experiences documented in this book. Professor Wood’s new title examines the controlling influences that drive macroeconomic policies in the United States. The book addresses the history of the interests, ideas, and practices of monetary and fiscal policies in the U.S., although it also examines macro-policies in other countries, particularly the UK. Professor Wood argues that economic policies in the United States have been relatively predictable and stable historically, through a detailed examination of conflicts over taxes and monetary policy such as the whiskey rebellion, Magna Carta, the Stamp Act, the Banks of the U.S., and the Federal Reserve. Issues covered also include property, economists’ theories of stabilization, taxes, deficits, and monetary policy. |
From inside the book
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... Fed's variable reputation 153 What they knew in 1914 155 The Fed's model 162 Qualifications 172 Estimates 175 A new theory 180 Conclusion 181 PART III Conclusion 8 It's interests after all Notes References Index 81 83 113 153 185 187 ...
... Fed discount rate, Fed funds rate, and free reserves, 1953–69 Fed discount rate, Fed funds rate, and free reserves, 1970–78 Fed discount rate, Fed funds rate, and free reserves, 1987–2007 36 65 74 75 171 176 176 177 177 Tables 2.1 2.2 ...
... Fed discount and Fed funds rate responses to free reserves Taylor and Strong-free-reserves rules compared: dependent variable dif 34 35 68 70 73 76 77 94 108 178 182 Acknowledgments I have observed and tried to learn how macroeconomic ...
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Contents
1 Introduction | 1 |
Part I Fiscal policy | 5 |
Part II Monetary policy | 81 |
Part III Conclusion | 185 |
Notes | 191 |
194 | |
213 | |