Belongia, Michael (2009): Reforming the Fed: what would real change look like?
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Abstract
The Federal Reserve has responsibilities in three functional areas: Bank supervision and regulation, monetary policy, and services to the payments system. Although much has changed in each of these areas since the Fed was founded nearly one hundred years ago, the Federal Reserve System has changed relatively little. This paper reviews the Fed's operations and structure and suggests reforms that are coherent with its mission and the current state of the financial system.
Item Type: | MPRA Paper |
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Original Title: | Reforming the Fed: what would real change look like? |
Language: | English |
Keywords: | Federal Reserve; monetary policy; |
Subjects: | E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E50 - General |
Item ID: | 18977 |
Depositing User: | Michael Belongia |
Date Deposited: | 04 Dec 2009 00:28 |
Last Modified: | 28 Sep 2019 10:49 |
References: | Anderson, Richard G., Barry Jones and Travis Nesmith. “Introduction to the St. Louis Monetary Services Index Project,” Federal Reserve Bank of St. Louis Review (January/February 1997), pp. 25-30. Barnett, William A. “Economic monetary aggregates an application of index number and aggregation theory,” Journal of Econometrics (September 1980), pp. 11 – 48. Barnett, William A. “The Optimal Level of Monetary Aggregation,” Journal of Money, Credit, and Banking (November 1982, Supplement), pp. 687 – 710. Belongia, Michael T. “Why Monetary Policy is Opaque Rather Than Transparent,” Public Choice (December, 2007), pp. 259 – 67. Belongia, Michael T. "Measurement Matters: Recent Evidence from Monetary Economics Re-examined," Journal of Political Economy (Oct. 1996), pp. 1065-83. Belongia, Michael T. and Kevin L. Kliesen. "The Effects of Immediate Release of the FOMC Directive on Interest Rates: Evidence from 'Leaks'," Contemporary Economic Policy (October 1994), pp. 79-91. Blinder, Alan S. “Central Banking in a Democracy,” Federal Reserve of Richmond Economic Review (Fall 1996), pp. 1 – 14. Washington Post. “Politicizing the Fed?” (November 11, 2009). |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/18977 |