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Federal Reserve policy reappraised, 1951-1959
- Author / Creator
- Available as
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- Format
- Books
- Language
- English
- Publication
-
- New York : Columbia University Press, 1963
- Physical Details
-
- 376 pages : illustrations ; 24 cm
- OCLC
- ocm00647597
- Includes bibliography.
- Part I: The Background of the Return to Flexible Monetary Policy -- The Revival of Belief in Flexible Monetary Policy: 1945-1951 -- The New Theory of Monetary Management: The Roosa Doctrine -- The Federal Reserve Board's Conception of Monetary Management: A Return to Orthodoxy and Tradition in Practice -- Part II: The Federal Reserve's Use of Monetary Instruments -- Open Market Operations and the Policy of Dealing in "Bills Only" -- The Controversy about "Bills Only" and the Efficacy of Monetary Policy -- The Record of "Bills Only" in the Application of Monetary Policy -- The Use of the Discount Mechanism -- Changes in Cash Reserve Requirements as a Credit Control Instrument -- The Failure to Use Selective Credit Controls -- Part III: The Federal Reserve's Control Over Financial Variables -- The Federal Reserve's Control of the Money Supply -- The Problem of the Velocity of Money -- The Influence of Changing Long-Term Interest Rates and Capital Values on Financial Institutions -- Part IV: Summary -- Findings and Conclusions of the Study