The Historical Performance of the Federal Reserve: The Importance of Rules Volume 695

Distinguished economist Michael D. Bordo argues for the importance of monetary stability and monetary rules, offering theoretical, empirical, and historical perspectives to support his case. He shows how the pursuit of stable monetary policy guided by central banks following rule-like behavior produces low and stable inflation, stable real performance, and encourages financial stability. In contrast, he explains how the failure to adhere to rules that produce monetary stability will inevitably produce the dire consequences of real, nominal, and financial instability. Bordo also examines the performance of the Federal Reserve and he reviews the history of monetary policy during the Great Depression.

Author: Michael D. Bordo
Publisher: Hoover Institution Press
Published: 06/01/2019
Pages: 648
Binding Type: Hardcover
Weight: 2.55lbs
Size: 9.10h x 6.40w x 1.80d
ISBN13: 9780817922146
ISBN10: 0817922148
BISAC Categories:
- Business & Economics | Economics | General
- Business & Economics | Money & Monetary Policy
- Business & Economics | Banks & Banking

About the Author
Michael D. Bordo is currently Board of Governors Professor of Economics and director of the Center for Monetary and Financial History at Rutgers University. He is also a Distinguished Visiting Fellow at the Hoover Institution at Stanford University.