عنوان

Committee decisions on monetary policy :

شابک

0262270161

شابک

1423729420

شابک

9780262270168

شابک

9781423729426

شماره

b735332

عنوان اصلي

Committee decisions on monetary policy :

نام عام مواد

[Book]

ساير اطلاعات عنواني

evidence from historical records of the Federal Open Market Committee /

نام نخستين پديدآور

Henry W. Chappell, Jr., Rob Roy McGregor, Todd Vermilyea.

محل نشرو پخش و غیره

Cambridge, Mass. :

نام ناشر، پخش کننده و غيره

MIT Press,

تاریخ نشرو بخش و غیره

©2005.

نام خاص و کميت اثر

1 online resource (xv, 313 pages) :

ساير جزييات

illustrations

متن يادداشت

Includes bibliographical references (pages 297-304) and index.

متن يادداشت

Introduction -- Institutional background -- Analytical background -- A long history of FOMC voting behavior : individual reaction functions and political influence on the monetary policy decision process -- Data from the Memoranda of Discussion and FOMC Transcripts -- Estimating reaction functions for individual FOMC members -- Majority rule, consensus building, and the power of the chairman : Arthur Burns and the FOMC -- FOMC decisions during the Greenspan years -- Political influences on monetary policy decision making : evidence from the Memoranda and the Transcripts -- Time inconsistency and the great inflation : evidence from the Memoranda and the Transcripts -- Conclusions.

بدون عنوان

0

متن يادداشت

An examination of how the policy preferences of individual members of the Federal Open Market Committee are translated into monetary policy decisions.In many countries, monetary policy decisions are made by committees. In the United States, these decisions are made by the Federal Reserve's Federal Open Market Committee (FOMC), which consists of the seven members of the Board of Governors and the presidents of the twelve district banks. This book examines the process by which the preferences of the FOMC's individual members are translated into collective policy choices. This focus on the aggregation of individual preferences into group decisions is unique and provides an important perspective on the evolution of monetary policy choices.To study decision making by the FOMC, the authors have used both formal voting records and detailed transcripts and summaries of deliberations contained in the committee's Memoranda of Discussion and FOMC Transcripts. The latter sources have been used to construct data sets describing individual committee members' policy preferences for the 1970-1978 and 1987-1996 periods when the FOMC was chaired by Arthur Burns and Alan Greenspan, respectively. These data are used to estimate monetary policy reaction functions for individual Committee members and to explore the role of majoritarian pressures, pressures for consensus, and the power of the chairman in collective decision making. The rich anecdotal evidence found in the Memoranda of Discussion and FOMC Transcripts inspires the narrative approach taken in two chapters, on the influence of political pressure on FOMC deliberations and on the relevance of the time inconsistency problem for the rise of inflation in the 1970s.

منبع سفارش / آدرس اشتراک

MIT Press

منبع سفارش / آدرس اشتراک

MIT Press

شماره انبار

1942

شماره انبار

9780262270168

عنوان

Committee decisions on monetary policy.

شماره استاندارد بين المللي کتاب و موسيقي

0262033305

موضوع مستند نشده

United States.

موضوع مستند نشده

United States.

موضوع مستند نشده

Federal Reserve banks.

موضوع مستند نشده

Monetary policy-- United States.

موضوع مستند نشده

BUSINESS & ECONOMICS-- Economics-- Macroeconomics.

موضوع مستند نشده

Federal Reserve banks.

موضوع مستند نشده

Monetary policy.

موضوع مستند نشده

POLITICAL SCIENCE-- Economic Conditions.

موضوع مستند نشده

United States.

بدون عنوان

7

موضوع مستند نشده

BUS-- 039000

موضوع مستند نشده

POL-- 023000

شماره

ويراست

شماره رده

نشانه اثر

مستند نام اشخاص تاييد نشده

Chappell, Henry W.

مستند نام اشخاص تاييد نشده

McGregor, Rob Roy,1961-

مستند نام اشخاص تاييد نشده

Vermilyea, Todd.

تاريخ عمليات

20201216222640.0

قواعد فهرست نويسي ( بخش توصيفي )

pn

نام الکترونيکي

نوع ماده

[Book]

تكميل شده

Y