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1668
- Riksdag (Swedish
parliament made up of nobles, clergy, burghers) approved
re-establishment of Stockholms Banco under name
Sveriges Rikes Ständers Bank (Bank of the Estates of the
Realm; Karl X Gustav,
in throes of war with Poland, had granted charter for exchange
bank and loan bank to Johan
Palmstruch, former Dutch merchant on November 30, 1656;
established as Stockholms Banco, Sweden’s first bank; private
company strongly regulated by state, issued banknotes; closed in
1664 when general public lost confidence in the banknotes;
Palmstruch convicted of of mismanagement in 1668 by Svea Court
of Appeal); 1867 -
renamed Sveriges Riksbank (National Bank of Sweden);
world's
oldest central bank.
July
27, 1694 -
The Bank of
England received royal charter as commercial institution.
April 3, 1721 - Robert Walpole became England's
first Lord of the Treasury.
August 1, 1732
- Foundation laid for Bank of England.
May 26, 1781
- Congress approved Robert Morris's proposal for national
bank; December 31, 1781 - newly christened Bank of
North America received United States first bank
charter; modeled after Bank of England, Philadelphia-based
bank proved to be fast success, inspired Alexander Hamilton to
found Bank of New York in 1791.
January 15, 1782
- Superintendent of Finance, Robert Morris, delivered report to
Congress on young nation's finances; recommended
establishing national mint, outlined plans for decimal
coinage.
December 14, 1790
- Secretary of the Treasury Alexander Hamilton proposed Bank
of the United States to assume responsibility for easing the
nation's debt, to establish a healthy line of credit; bank's
distinctly Federalist bent angered planters and states' rights
proponents, charged Hamilton with catering to "monied
interests," derided his plan as unconstitutional; February
25, 1791 - President Washington signed the bill to
charter the bank.
December 12, 1791
- The First Bank of the United States opened; provided
national currency, acted as government's fiscal agent.
1797 -
England in Crisis, Bank of England suspended cash payments.
March 4, 1811
- First Bank of the United States lost battle between
Federalists and
Thomas
Jefferson-led states' rights advocates, forced to liquidate;
backed by Federal funds, bank was essentially a private company
with investors; loud and powerful chorus of critics feared bank
would become too potent a central institution, like the Bank of
England; merchants hoping to open their own state-based
financial institutions carped over the competition from the
bank's network of branch offices; bank leaned heavily on foreign
investments, mostly from British interests; bank was profitable,
paid relatively handsome dividends to investors but critics
forced its demise;
1816
- pro-bank forces forged a new charter, Nicholas Biddle in
charge; President Andrew Jackson, fiercely opposed the notion of
a central bank system, tried to use his executive power to do
away with the bank.
March 25, 1814
- Netherlands Bank established.
April 10, 1816
- Second Bank of the United States approved; 1817
- opened in Philadelphia with twenty-year charter, $35
million in federal funding; floundered under first chief,
William Jones; later flourished under charge of Nelson Biddle;
didn't survive past term of its initial charter: states'
rights activists, led by President Andrew Jackson, mounted hotly contested, though ultimately successful, drive to abolish
tBank and its network of branch offices; 1832 -
Jackson vetoed Congress's re-charter.
1819 -
Britain returned to gold standard.
February 15, 1836
- Nicholas Biddle obtained Pennsylvania charter for
ever-controversial second Bank of the United States; could not
fend off President Andrew Jackson, who bitterly opposed concept
of Federal banking system, marshaled fierce attacks
against Biddle's bank, cut off government's flow of deposits,
transferred Federal
funds to various state banks; February 4, 1841 -
closed
due to bad
investments, mismanagement.
1844 - Bank Charter Act, to regulate money supply
in relation to gold in Britain.
August 5, 1861
- Federal government levied an income tax for first
time;
Congress passed the Revenue
Act of 1861, which restored earlier excises taxes, imposed tax on personal incomes
(levied at 3% all incomes higher than $800 a year); new direction for Federal tax system based mainly
on excise taxes, customs duties; Congress
quickly acknowledged certain
inadequacies of
income tax, collected none
until following year; repealed ten
years later.
July 1, 1862 -
United States Congress passed Revenue Act: imposed 3% tax on
people with incomes between $600 to $10,000; called for 3% tax
on incomes between $600 and $10,000, 5% tax on incomes of more
than $10,000; created Bureau of Internal Revenue, government
agency charged with collecting revenue generated by new taxes;
1868 - main source
of Government revenue derived from liquor, tobacco taxes;
1872 - income tax
abolished; 1868-1913
- almost 90% of all revenue collected from remaining excises.
May 20, 1895 -
Supreme Court ruled, in decision in Pollock v. Farmers' Loan &
Trust Co., on constitutionality of income tax legislation
(unconstitutional); deemed a property-based tax on incomes a
"direct tax" (violated Constitution's holding that taxes could
only be levied if they raised revenues that were commensurate
with each state's population); Court gradually moved away from
its consideration of income tax as "direct tax"; came to view it
as excise tax "measured by income"; judged income taxes as being
"inherently" indirect; "conferred no new power of taxation."
January 12, 1897 -
National Monetary Conference convened in Indianapolis, Indiana,
to chart nation's fiscal course into next century; resulted in
establishment of congressional committee charged with developing
financial system based on burgeoning gold standard.
March 29, 1897 -
Japan adopted Gold Standard.
1900 - Bank of Japan only central bank
outside Europe.
March 14,
1900 - Congress ratified Gold
Standard Act.
May 30, 1908 - Congress passed Aldrich-Vreeland
Currency Act (sponsored by financier and conservative
legislator, Senator Nelson Aldrich, R-RI); business-friendly
bill designed as boon to struggling banks, granted banks
authority to issue currency that was pegged to commercial notes, government bonds.
May 30, 1908
- Theodore Roosevelt named Senator Nelson Aldrich (R-RI) chair
of National Monetary Commission; effectively granted the
arch-conservative right to monitor, mold nation's
finances.
February 3, 1913
- The 16th Amendment to the Constitution ratified; providing for federal income tax;
February 25, 1913 - declared in effect (passed by Congress on
July 12, 1909, ratified on February 3, 1913), gave Congress power to levy, collect income taxes; stated: "Congress shall
have the power to lay and collect taxes on incomes, from
whatever source derived, without apportionment among the several
states, and without regard to any census or enumeration." Later,
Congress adopted a 1% tax on net personal income of more than
$3,000 with surtax of 6% on incomes of more than $500,000; repealed 1909 corporate income tax; first Form 1040
introduced.
March 8, 1913 -
The Internal Revenue Service began to levy, collect income
taxes.
October 3, 1913
-
President Wilson signed Underwood-Simmons Tariff Act ( Congressman Oscar W. Underwood of
Alabama, Senator Furnifold M. Simmons of North Carolina);
drastic lowered high tariff rates of Payne-Aldrich
Tariff of 1909 to benefit consumers, stimulate competition
(reduced average ad valorem rates from about 40% to about
26%; imposed graduated income tax, first under Sixteenth Amendment, to compensate for lost
revenue); marked significant change in federal economic policy -
made manufacturers more
efficient, provided consumers with competitive pricing, promoted
free trade, boosted nation's industrial efforts;
transformed United States from importer of goods and capital into leading
manufacturing nation of world, with a surplus of capital and
goods that had to be invested, sold abroad.
December 23, 1913 - President
Woodrow Wilson signs Federal Reserve Act (Owen-Glass Act),
established central bank, creating the
Federal Reserve System - a network of twelve regional banks;
called for all national banks to join the federal system via
hefty one-time deposits into a pooled account; Federal Reserve
banks were charged with serving as resources to aid and
stabilize the nation's other banks; resulting network of banks
tied together by the Federal Reserve Board, as well as the newly
minted Federal Reserve note.
January 24,
1916 - Supreme Court ruled in favor of Sixteenth
Amendment (passed in 1909, ratified by states in 1913); granted
federal government constitutional authority to levy an income
tax.
November 16,
1914 - Federal Reserve Bank opened; initially
designed as more or less "passive" institution, focused
primarily on staving off any future bank panics; result of 1913
report of National Monetary Commission charged with
diagnosing, prescribing remedy for frequent bank panics - found
that nation's banks were so "unrelated and independent of each
other that the majority of them had simultaneously engaged in a
life and death contest with each other."
March 1, 1917
- First federal land bank chartered.
March 3, 1917
- Congress passed first excess profits tax on corporations.
April 3, 1925
- Great Britain returned to gold standard.
March 1, 1927 -
Bank of Italy became a National Bank.
September 21, 1931
- Britain went off gold standard; gold and foreign exchange
reserves transferred to the Treasury; managed by Bank of England.
February 27, 1932 - Congress passed Glass-Steagall
Act, expanded powers of Federal Reserve Board to extend
credit, enabled agency to "release" some of government's
gold to business as response to flood of foreign
withdrawals (ran $100 million per week).
June 5, 1933 -
The United States went off gold
standard.
January
30, 1934 - House passed Gold Reserve Act to
halt to volatility of gold prices; nationalized gold; gave
President Franklin Roosevelt license to peg value of dollar within range of 50 to 60 cents in terms of gold;
January 31, 1934 - Roosevelt announced that dollar
would be worth 59.06 cents, gold would be valued at $35 per
ounce; paved way for "nationalization" of gold as
various Federal Reserve banks handed control of their gold
supplies, including all coins, bullion and gold certificates, to
U.S. Treasury (shuttled good chunk of gold to well-protected spot in Fort Knox, Kentucky).
March 11, 1935
- Bank of Canada opened.
July 1, 1943
- ''Pay-as-you-go'' income tax withholding began.
July 1, 1944
- Bretton Woods Conference started; July 22, 1944
- three-week, forty-four nation, Bretton Woods
conference ended; delegates voted to create World Bank
(to dole out international loans, received much of its fiscal resources from United States),
International Monetary Fund (IMF - to stabilize
exchange rates, enforce dollar-centric currency
standard); these institutions, in minds of some historians,
sealed America's role as leader of post-war economic
order.
February 14, 1946
- Bank of England nationalized after Second World War; remained
Treasury's adviser, agent, debt manager;
March 1, 1946
- British Government took control of Bank of England, after 252
years.
March 1, 1947
- International Monetary Fund began operations.
April 16, 1948
- Organization for European Economic Cooperation (EEC) formed in
Paris.
March 25, 1957
- France, West Germany, Italy, Netherlands, Belgium,
Luxembourg signed treaty in Rome, established European
Economic Community (EEC), also known as the Common Market;
January 1, 1958
- went
into effect.
May 9, 1966
- Andrew F. Brimmer appointed first black member of Board of
Governors of Federal Reserve System.
April 1, 1971
- United Kingdom lifted all restrictions on gold ownership.
April 1, 1973
- Japan allowed its citizens to own gold.
1974
- Central Bank Governors of the Group of Ten countries created
Basel Committee on Banking Supervision to provide forum for
regular cooperation on banking supervisory matters, to enhance
understanding of key supervisory issues, improve quality of
banking supervision worldwide; formulates broad supervisory
standards and guidelines; recommends statements of best
practice; members come from Belgium, Canada, France, Germany,
Italy, Japan, Luxembourg, Netherlands, Spain, Sweden,
Switzerland, United Kingdom, United States; represented by
central bank, by authority with formal responsibility for
prudential supervision of banking business where this is not
central bank; 12 member permanent fifteen person Secretariat
located at Bank for International Settlements in Basel,
Switzerland; 1988
- Committee introduced capital measurement system (Basel Capital
Accord); provided for implementation of credit risk measurement
framework with minimum capital standard of 8% by end-1992;
June 1999 - issued
proposal for revised Capital Adequacy Framework (minimum capital
requirements, supervisory review of an institution's internal
assessment process and capital adequacy; effective use of
disclosure to strengthen market discipline as complement to
supervisory efforts); June 26,
2004 - Basel II (revised framework) issued;
rules for measuring bank risk, determining capital adequacy to
absorb risk.
March 13, 1979
- European Monetary System established, ECU created.
March 31, 1980
- President Jimmy Carter signed Depository Institutions
Deregulation and Monetary Control Act of 1980 (To facilitate the
implementation of monetary policy, to provide for the gradual
elimination of all limitations on the rates of interest which
are payable on deposits and accounts, and to authorize
interest-bearing transaction accounts, and for other purposes);
forced all banks to abide by rules of Federal Reserve; allowed
banks to merge; removed power of Federal Reserve Board of
Governors under Glass-Steagall Act and Regulation Q to set
interest rates of savings accounts; raised deposit insurance of
US banks, credit unions from $40,000 to $100,000; allowed credit
unions, savings and loans to offer checkable deposits; phased out all
savings rate ceilings on consumer accounts over six-year period;
deregulated banking industry.
April 3, 1986
- U.S. national debt hit $2,000,000,000,000.
June 2, 1987
- President Ronald Reagan announced nomination of economist
Alan Greenspan to succeed Paul Volcker as chairman of Federal Reserve Board.
April 27, 1992
- Russia and 12 other
former Soviet republics won entry into International
Monetary Fund and World Bank.
November 1, 1993
- Maastricht Treaty on European Union (ratified by 12
nations) went into effect, formally established European
Union (EU); called for strengthened European parliament,
creation of central European bank, common foreign and security
policies (on crime, terrorism, immigration issues); laid
groundwork for establishment of single European currency,
to be known as the "euro."
June 1997
- Bank of England made independent of Government control.
August 17, 1998
- Russia devalued the ruble.
February 4, 2000
- The Senate voted 89-4 to confirm Alan Greenspan for fourth
term as chairman of Federal Reserve.
October 24, 2005
- President George W. Bush nominated Ben S. Bernanke (Princeton
University economist, government's chief economic advisor after
being elected chairman of the Council of Economic Advisers in
June 2005) as new head of US Federal Reserve (14th
chairman of Fed); leading advocate of "inflation targeting",
an approach widely adopted in Europe in which central banks set
target for inflation, stick to it.
January 22, 2008
- Fed's benchmark rate
(http://graphics8.nytimes.com/images/2008/01/22/business/0123-biz-FED.gif)
January 31, 2006
- Alan Greenspan retired; Senate approved Ben Bernanke as
chairman of Federal Reserve.
January 19, 2008 -
Brief history of federal Reserve: Panic, Depression, Inflation,
Boom - and Panic?
(http://www.nytimes.com/imagepages/2008/01/19/
magazine/20bernanketimeline.ready.html)
June 2008
- Evolution of Producer Prices - 12-month increase (ended May
2008) rose to 7.2% (smaller than 7.8% increase reported in year
through January 2008, highest overall producer price inflation
rate since 1981); producer prices of grains rose 64.8%,
producer price for livestock up 1.5%; 45% of American CFOs said
their companies had raised prices to offset higher energy costs
(source: Duke University/CFO Magazine poll); expect to raise
prices by 4.1% over next 12 months (2x rate forecast in
September 2007).
(Source:
Bureau of labor Statistics, via Haver Analytics;
http://graphics8.nytimes.com/images/2008/06/21/business/0621-biz-webCHARTS.jpg)
November 6, 2008
- Total government borrowing could pass $1.5
trillion in fiscal year (ending September 2009); would increase
government's total debt burden by more than 25% in one year;
factors - individual income and corporate income-tax receipts
slowed by recession; outlays for
economic stabilizers rising (unemployment insurance, food
stamps, other programs); Treasury is embarking on $700 billion
program to buy distressed assets from Wall Street, invest in
financial firms (has already increased borrowing in support of
Federal Reserve financial rescue efforts); Congress likely to
pass new economic stimulus plan that could exceed $150 billion.
(http://s.wsj.net/public/resources/images/NA-AT760B_Econo_NS_20081105215218.gif)
November 2008 - Inflation history (below:
history of consumer price changes year-by-year since 1914;
1990 - brief price
spike put CPI slightly over 5% was result of sharp, short run-up
in oil prices during Gulf War;
1970s - inflation
generated by world oil, grain
price shocks, not result of overheated economy;
late 1960s - bout
of inflation ignited by Lyndon
Johnson's refusal to raise taxes to pay for Vietnam War;
1950s -
fueled by Korean War; 20th century's earliest bouts of inflation
products of WWI, WWII.
(http://upload.wikimedia.org/wikipedia/commons/thumb/8/8c/US_Historical_Inflation.svg/800px-US_Historical_Inflation.svg.png)
December 16, 2008 - Federal Reserve lowered
target for overnight Fed Funds rate to range of 0.25%
(essentially 0% - similar to zero-rate policies used by Japan in
fight against deflation); lowest rate in history - July 1954
(0.80) - June 1981 (19.10) - December 2008 (0.25).
(http://research.stlouisfed.org/fred2/data/FEDFUNDS_Max_630_378.png)
January 8, 2009
- The Bank of England cut official interest rates by half
percentage point to 1.5%, lowest level in its 315-year history
in attempt to ward off prolonged recession (trimmed 3.5% since
beginning of October 2008); bleakest year since early 1990s
recession.
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(http://lincoln.lib.niu.edu/
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Bundesbank; Monetary policy -- Germany; Monetary policy --
European Economic Community countries; International finance.
(Deutsche Bundesbank), David Marsh (1992).
The Most Powerful Bank: Inside Germany's Bundesbank.
(New York, NY: Times Books, 331 p.). Deutsche Bundesbank; Banks
and banking, Central--Germany.
(Deutsche Bundesbank), Edited by Stephen F.
Frowen and Robert Pringle; foreword by Hans Tietmeyer (1998).
Inside the Bundesbank. (New York, NY: St. Martin's
Press, 188 p.). Banks and banking, Central -- Germany; Monetary
policy -- Germany.
(Deutsche Bundesbank), With contributions by
Ernst Baltensperger ... [et al.]; edited by the Deutsche
Bundesbank (1999).
Fifty Years of the Deutsche Mark: Central Bank and the Currency
in Germany Since 1948. (New York, NY: Oxford University
Press, 836 p.). Deutsche Bundesbank; Mark, German--History;
Money--Germany--History; Monetary policy--Germany--History.
(Deutsche Bundesbank), edited by Jakob de Haan
(2000).
The History of the Bundesbank: Lessons for the European Central
Bank / edited by Jakob de Haan. (New York, NY:
Routledge, 161 p.). Deutsche Bundesbank -- History --
Congresses; European Central Bank -- History -- Congresses;
Monetary policy -- European Union countries -- Congresses.
(Deutsche Bundesbank), Jeremy Leaman (2001).
The Bundesbank Myth: Towards a Critique of Central Bank
Independence. (New York, NY: Palgrave, 280 p.). Deutsche
Bundesbank -- History; Banks and banking, Central -- Germany;
Monetary policy -- Germany.
(European Coal and Steel Community), John
Gillingham (1991).
Coal, Steel, and the Rebirth of Europe, 1945-1955: The Germans
and French from Ruhr Conflict to Economic Community.
(New York, NY: Cambridge University Press, 397 p.). Professor of
History (University of Missouri, St. Louis). European Coal and
Steel Community; Steel industry and trade--Government
policy--Germany (West); Steel industry and trade--Government
policy--France; Steel industry and trade--Government
policy--European Economic Community countries; Coal
trade--Government policy--Germany (West); Coal trade--Government
policy--France; Coal trade--Government policy--European Economic
Community countries.
(Federal Reserve Board), John A. Griswold.
(1936). History of the Federal Reserve Bank of Chicago.
(St. Louis, MO: J. Mulligan Print. & Pub. Co., 247 p.). Federal
Reserve Bank of Chicago; Federal Reserve banks--History.
(Federal Reserve Board), Parker B. Willis
(1937). The Federal Reserve Bank of San Francisco; A Study in
American Central Banking. (New York, NY: Columbia University
Press, 277 p.). Federal Reserve Bank of San Francisco; Banks and
banking--California.
(Federal Reserve Board), Elgin Earl Groseclose
(1965). Fifty Years of Managed Money: The Story of the
Federal Reserve, 1913-1963. (New York, NY: Books, Inc., 277
p.). Board of Governors of the Federal Reserve System (U.S.);
Board of Governors of the Federal Reserve System
(U.S.)--History.
(Federal Reserve Board), Donald A. Elliott
(1985).
The St. Louis Fed's Monetary Model: When It Came, How It
Thrived, 1970-1983. (New York, NY: Garland Pub., 292
p.). Federal Reserve Bank of St. Louis; Chicago school of
economics; Monetary policy.
(Federal Reserve Board), James Livingston
(1986).
Origins of the Federal Reserve System: Money, Class, and
Corporate Capitalism, 1890-1913. (Ithaca, NY: Cornell
University Press, 250 p.). Board of Governors of the Federal
Reserve System (U.S.)--History; Capitalism--United
States--History; Money--United States--History.
(Federal Reserve Board), William Greider
(1989).
Secrets of the Temple: How the Federal Reserve Runs the Country.
(New York, NY: Simon & Schuster, 798 p.). Board of Governors of
the Federal Reserve System (U.S.); Federal Reserve banks;
Monetary policy--United States--History--20th century; Banks and
banking--United States--History--20th century; Finance--United
States--History--20th century.
(Federal Reserve Board), Carl H. Moore (1990).
The Federal Reserve System: A History of the First 75 Years.
(Jefferson, NC: McFarland, 266 p.). Board of Governors of the
Federal Reserve System (U.S.)--History; Monetary policy--United
States--History.
(Federal Reserve Board), J. Lawrence Broz
(1997).
The International Origins of the Federal Reserve System.
(Ithaca, NY: Cornell University Press, 269 p.). Board of
Governors of the Federal Reserve System (U.S.)--History; Federal
Reserve banks--History; International finance--History; Monetary
policy--United States--History.
(Federal Reserve Board), G. Edward Griffin
(1998).
The Creature from Jekyll Island: A Second Look at the Federal
Reserve. (Westlake Village, CA: American Media, 608 p.
[3rd ed.]). Capitalists and financiers--History; Monetary
policy--United States--History; Banks and banking--United
States--History; Federal Reserve banks--History.
(Federal Reserve Board), Martin Mayer (2001).
The Fed: The inside Story of How the World's Most Powerful
Financial Institution Drives the Markets. (New York, NY:
Free Press, 368 p.). Board of Governors of the Federal Reserve
System (U.S.); Monetary policy--United States; Stock
exchanges--United States.
(Federal Reserve Board), Allan H. Meltzer with
a foreword by Alan Greenspan (2003).
A History of the Federal Reserve, Volume I: 1913-1951.
(Chicago, IL: University of Chicago Press, 800 p.). Board of
Governors of the Federal Reserve System (U.S.); Federal Reserve
banks. Biography of Federal Reserve, people
who helped shape it, founding in 1913 through Treasury-Federal
Reserve Accord of 1951 (beginning of larger, greatly changed
institution; reasoning behind its policy decisions; why Federal
Reserve remained passive throughout most of economic decline
that led to Great Depression; how Board's actions helped to
produce deep recession of 1937 and 1938; impact on institution
of individuals; influence on international affairs (attempts to
build new international financial system in 1920s to Bretton
Woods Agreement of 1944 that established International Monetary
Fund and World Bank, failure of London Economic Conference of
1933).
(Federal Reserve Board), Donald R. Wells
(2004).
The Federal Reserve System: A History. (Jefferson, NC:
McFarland & Co., 215 p.). Board of Governors of the Federal
Reserve System (U.S.); Federal Reserve banks.
(Federal Reserve Board), Elmus Wicker (2005).
The Great Debate on Banking Reform: Nelson Aldrich and the
Origins of the Fed. (Columbus, OH: Ohio State University
Press, 120 p.). Aldrich, Nelson W. (Nelson Wilmarth), 1841-1915;
Board of Governors of the Federal Reserve System
(U.S.)--History; Monetary policy--United States--History;
Banking law--United States; Banks and banking--United
States--History.
(FRB - Bernake), Johan Van
Overtveldt (2009).
Bernanke’s Test: Ben Bernanke, Alan Greenspan, and the Drama of
the Central Banker.
(Chicago. IL, Agate, 287 p.). Director of VKW Metena
(Belgium-based think tank), Former Chief Economist for Trends
(Belgian newsmagazine).Bernanke, Ben; Greenspan, Alan, 1926;
Board of Governors of the Federal Reserve System (U.S.); Banks
and banking, Central --United States; Monetary policy --United
States; Financial crises --United States; United States
--Economic policy. Greenspan's long record as Fed chairman
(generally successful: kept economy vibrant, ameliorated
financial shocks; lowered interest rates, opposed financial regulation, fostered growth of housing, credit bubble;
2007 - bubble burst, became liquidity crisis, then solvency
crisis); Bernanke's career as
economist prior to replacing Greenspan (recognized
crisis early cut interest-rates, injected liquidity into system, pushed
for greater transparency and regulation); role, reach of central
banker; how former Fed chairmen (Benjamin Strong, William McChesney Martin, Arthur Burns, Paul Volcker) dealt with same
complex issues Bernanke faces today.
(FRB - Bernake), David Wessel (2009).
In Fed We Trust:
Ben Bernanke’s War on the Great Panic. (New
York, NY, Crown: 323 p.). Economics Editor (Wall Street
Journal). Bernanke, Ben; Board of Governors of the Federal
Reserve System (U.S.); Banks and banking, Central --United
States; Financial crises --United States; Monetary policy
--United States.
Fed spearheaded the biggest
government intervention in more than half century, effectively
became fourth branch of government, with no direct
accountability to nation’s voters; believed economic catastrophe
of 1930s largely fault of sluggish, wrongheaded Federal
Reserve; how Bernanke Fed led desperate effort to prevent
world’s financial engine from grinding to halt; most critical
questions: 1) what did Bernanke, his team at Fed know, what took
them by surprise? which of their actions stretched Fed’s legal
authority? which chilling numbers, indicators made them feel
they had no choice?; 2) what were they thinking at pivotal
moments during race to sell Bear Stearns, unsuccessful quest to
save Lehman Brothers, virtual nationalization of AIG, Fannie
Mae, Freddie Mac? what were they saying to one another when, as
Bernanke put it: “We came very close to Depression 2.0”?; 3) how
well did Bernanke, former treasury secretary Hank Paulson, then
New York Fed president Tim Geithner perform under intense
pressure?; 4) how did crisis prompt reappraisal of
once-impregnable reputation of Alan Greenspan?
(FRB - Burns), Wyatt C. Wells (1994).
Economist in an Uncertain World: Arthur F. Burns and the Federal
Reserve, 1970-78. (New York, NY: Columbia University
Press, 334 p.). Distinguished Research Associate Professor of
History (Auburn University, Montgomery). Burns, Arthur F.
(Arthur Frank), 1904-1987; Board of Governors of the Federal
Reserve System (U.S.)--History; Economists--United
States--Biography; Monetary policy--United States--History.
Arthur F. Burns
(http://www.multied.com/Bio/
people/images/burns.gif)
(FRB - Burns), Edited by Robert H. Ferrell (2010).
Inside the Nixon Administration: The Secret Diary of Arthur
Burns, 1969-1974. (Lawrence, KS: University Press of
Kansas, 140 p.). Emeritus Professor of History (Indiana
University). Burns, Arthur F. (Arthur Frank), 1904-1987
--Diaries; Nixon, Richard M. (Richard Milhous), 1913-1994
--Political and social views --Sources; Board of Governors of
the Federal Reserve System (U.S.) --History --20th century
--Sources; Monetary policy --United States --History --20th
century --Sources; United States --Politics and government
--1969-1974 --Sources; United States --Economic conditions
--1961-1971 --Sources; United States --Economic conditions
--1971-1981 --Sources; United States --Economic policy
--1961-1971 --Sources; United States --Economic policy
--1971-1981 --Sources. Burns joined Nixon administration as an
advisor in 1969; his growing awareness of Nixon's
behind-the-scenes maneuverings, worrisome behavior; how they
undermined his respect, enthusiasm for President; how Nixon
exerted political pressure to shape monetary policies that
helped to fuel stagflation of 1970s (sought to close so-called
gold window, approximate valuation of dollars with gold bullion,
by floating dollar - confirms consensus over many years that
Nixon arranged this);growing pressure Burns felt to serve needs
of Nixon's reelection bid rather than economic welfare of
nation; honest, relatively apolitical man surrounded by
dishonest, inept (or both) partisans in top administrative
positions; evaluations of president's inner circle (including
Kissinger ("a brilliant political analyst, but admittedly
ignorant of economics"), George Schultz ("a no less confused
amateur economist"), John Connally ("a thoroughly confused
politician"), vulgarians" H. R. Haldeman, Jhn Ehrlichman (only
people Nixon seemed to feel relaxed around).
(FRB - Eccles - Chairman 1934), Marriner S.
Eccles; edited by Sidney Hyman (1951).
Beckoning Frontiers; Public and Personal Recollections.
(New York, NY: Knopf, 499 p.). Federal Reserve Board Chairman.
Eccles, Marriner S. (Marriner Stoddard), 1890-1977.
Marriner S. Eccles
(http://historytogo.utah.gov/utah_chapters/from_war_to_war/images/Mariner_Eccles.jpg)
(FRB - Eccles), Sidney Hyman; with a foreword
by G. L. Bach (1976).
Marriner S. Eccles, Private Entrepreneur and Public Servant.
(Stanford, CA: Graduate School of Business, Stanford University,
456 p.). Eccles, Marriner S. (Marriner Stoddard), 1890-1977;
Bankers--United States--Biography. Assistant Secretary of
Treasury; Chairman of Federal Reserve Board in 1934-1948.
(FRB - Greenspan), Steven K. Beckner (1996).
Back from the Brink: The Greenspan Years. (New York, NY:
Wiley, 452 p.). Greenspan, Alan, 1926- ;Board of Governors of
the Federal Reserve System (U.S.); Government economists--United
States--Biography; Monetary policy--United States.
Alan Greenspan
(http://www.pbs.org/newshour/
extra/images/july-dec00/greenspan.jpg)
(FRB - Greenspan), David B. Sicilia and
Jeffrey L. Cruikshank (2000).
The Greenspan Effect: Words That Move the World's Markets.
(New York, NY: McGraw-Hill, 273 p.). Greenspan, Alan, 1926- ;
Board of Governors of the Federal Reserve System (U.S.);
Government economists--United States--Biography; Monetary
policy--United States. Social security--United States; Business
cycles--United States; Investments--Effect of inflation
on--United States; Stocks--United States; United
States--Economic policy--1981-1993; United States--Economic
policy--1993-.
(FRB - Greenspan), Bob Woodward (2000).
Maestro: Greenspan's Fed and the American Boom. (New
York, NY: Simon & Schuster, 270 p.). Greenspan, Alan, 1926- ;
Board of Governors of the Federal Reserve System (U.S.);
Monetary policy--United States--History--20th century.
(FRB - Greenspan), Justin Martin (2001).
Greenspan: The Man Behind Money: With a New Afterword by the
Author. (Cambridge, MA: Perseus Pub., 300 p.).
Greenspan, Alan, 1926- ; Board of Governors of the Federal
Reserve System (U.S.); Government economists--United
States--Biography; Monetary policy--United States.
(FRB - Greenspan), Jerome Tuccille (2002).
Alan Shrugged: The Life and Times of Alan Greenspan, the World's
Most Powerful Banker. (Hoboken, NJ: Wiley, p.).
Greenspan, Alan, 1926- ; Board of Governors of the Federal
Reserve System (U.S.); Government economists--United
States--Biography; Monetary policy--United States.
(FRB - Greenspan), E. Ray Canterbery (2006).
Alan Greenspan: The Oracle Behind the Curtain. (River
Edge, NJ: World Scientific, 220 p.). Greenspan, Alan, 1926- ;
Board of Governors of the Federal Reserve System (U.S.);
Government economists--United States--Biography; Monetary
policy--United States; United States--Economic
policy--1981-1993; United States--Economic policy--1993-2001;
United States--Economic policy--2001-.
(FRB - Greenspan), Peter Hartcher (2006).
Bubble Man: Alan Greenspan and the Missing 7 Trillion Dollars.
(New York, NY: Norton, 208 p.). Political Editor (Sydney Morning
Herald), Former Washington Correspondent (Australian Financial
Review). Greenspan, Alan, 1926- ; Speculation--United
States--History--20th century; Financial crises--United
States--History--20th century.; Finance--United States; Monetary
policy--United States; United States--Economic policy.
Achievements,
Greenspan's responsibility for 1990s stock-market bubble.
(FRB - Greenspan), Alan Greenspan (2007).
The Age of Turbulence: Adventures in a New World. (New
York, NY: Penguin Press, 640 p.). Former Chairman of the Federal
Reserve Board. Greenspan, Alan, 1926- ; Government
economists--United States--Biography; United States--Economic
conditions--1945-. New
world (global capitalist economy vastly more flexible,
resilient, open, self-directing, fast-changing than 20 years
ago), how we got here, what we're living through, what's over
horizon, for good or ill.
(FRB - Greenspan), Robert D. Auerbach (2008).
Deception and Abuse at the Fed: Henry B. Gonzalez Battles Alan
Greenspan’s Bank. (Austin, TX: University of Texas
Press, 288 p.). Professor of Public Affairs at the Lyndon B.
Johnson School of Public Affairs (University of Texas at
Austin), former economist with the U.S. House of Representatives
Financial Services Committee. Greenspan, Alan, 1926-; Gonzalez,
Henry B. (Henry Barbosa), 1916-2000; Board of Governors of the
Federal Reserve System (U.S.); Governmental investigations
--United States --Case studies. Major instances of Fed
mismanagement, abuse of power exposed by Rep. Gonzalez; no
government agency should be allowed to operate with secrecy,
independence in which Federal Reserve has shrouded itself.
(FRB - Greenspan), William A. Fleckenstein
with Frederick Sheehan (2008).
Greenspan’s Bubbles: The Age of Ignorance at the Federal Reserve.
(New York, NY: McGraw-Hill, 208 p.). Column "Contrarian
Chronicles" for MSN Money; Director of Asset Allocation Services
at John Hancock Financial Services. Greenspan, Alan, 1926- ;
Board of Governors of the Federal Reserve System (U.S.);
Government economists--United States--Biography; Monetary
policy--United States--History--20th century; Stock Market
Bubble, 1995-2000; United States--Economic policy.
Timeline of devastating mistakes:
stock market crash of 1987, Savings & Loan crisis, collapse of
Long Term Capital Management, tech bubble of 2000, feared Y2K
disaster, credit bubble and real estate crisis of 2007; damning
evidence that contradicts former Fed chief's public naivete
concerning shifts in market and economy; made same mistakes
repeatedly.
(Greenspan),Frederick Sheehan (2009).
Panderer to Power: The Untold Story of How Alan Greenspan
Enriched Wall Street and Left a Legacy of Recession.
(New York, NY: McGraw-Hill, 400 p.). Former Director of Asset
Allocation Services at John Hancock Financial Services.
Greenspan, Alan, 1926-; Board of Governors of the Federal
Reserve System (U.S.); Government economists --United States
--Biography; Monetary policy --United States --History --20th
century; Stock Market Bubble, 1995-2000; United States
--Economic policy. Shameless media hound who ferociously promoted his image as
straight-laced numbers cruncher, Machiavelli whose political
skills far surpassed his skills as an economist; either the
"economic genius of our time" was oblivious to hazards of his
irresponsible policy decisions or he knew full well what he was
doing, but chose, as he had throughout his career, to put
self-interest above public good.
(FRB - Martin), Robert P. Bremmer (2004).
Chairman of the Fed: William McChesney Martin Jr. and the
Creation of the Modern Federal Reserve System. (New
Haven, CT: Yale University Press, 368 p.). Martin, William
McChesney; Board of Governors of the Federal Reserve System
(U.S.)--Officials and employees--Biography; Government
economists--United States--Biography; United States--Economic
policy--1945-1960; United States--Economic policy--1961-1971.
William McChesney
Martin, Jr.
(http://www.conelrad.com/atomicsecrets/images/martin_margin.gif)
(FRB - McAdoo), Dale N. Shook (1987).
William G. McAdoo and the Development of National Economic
Policy, 1913-1918. (New York, NY: Garland, 327 p.). McAdoo,
William Gibbs, 1863-1941; United States. Dept. of the
Treasury.--History--20th century; Industrial policy--United
States--History--20th century; United States--Economic
policy--To 1933.
(FRB - Strong), Lester V. Chandler (1978).
Benjamin Strong, Central Banker. (New York, NY: Arno
Press, 495 p. [orig. pub. 1958]). Strong, Benjamin, 1872-1928;
Bankers--United States--Biography; Federal Reserve
banks--History; International finance--History; Banks and
banking, Central--History.
Benjamin Strong
(http://www.newyorkfed.org/images/v2/bstrong.gif)
(FRB - Strong), Silvano A. Wueschner; foreword
by Ellis W. Hawley (1999).
Charting Twentieth-Century Monetary Policy: Herbert Hoover and
Benjamin Strong, 1917-1927. (Westport, CT: Greenwood
Press, 178 p.). Hoover, Herbert, 1874-1964; Strong, Benjamin,
1872-1928; Board of Governors of the Federal Reserve System
(U.S.); Monetary policy -- United States -- History -- 20th
century; Banks and banking -- United States -- History -- 20th
century. Series Contributions in economics and economic history.
(FRB - Volcker), William R. Neikirk (1987).
Volcker, Portrait of the Money Man. (New York, NY:
Congdon & Weed, 222 p.). Volcker, Paul A.; Board of Governors of
the Federal Reserve System (U.S.)--Officials and
employees--Biography; Economists--United States--Biography;
United States--Economic policy--1971-1981; United
States--Economic policy--1981-1993.
Paul Volcker
(http://images.usatoday.com/money
/energy/_photos/2002-02-04-volcker.jpg)
(FRB - Volcker), Joseph B. Treaster (2004).
Paul Volcker: The Making of a Financial Legend.
(Hoboken, NJ: Wiley, 244 p.). Reporter (New York Times).
Volcker, Paul A.; Board of Governors of the Federal Reserve
System (U.S.)--Officials and employees--Biography;
Economists--United States--Biography; United States--Economic
policy--1971-1981; United States--Economic policy--1981-1993.
(National Bank of Fiji), Roman Grynberg, Doug
Munro and Michael White; foreward by Savenaca Siwatibau (2002).
Crisis: The Collapse of the National Bank of Fiji. (Suva,
Fiji: University of South Pacific Book Centre, 183 p.). National
Bank of Fiji; Banks and banking, Central--Fiji; Bank
failures--Fiji.
(Reserve Bank of India), S. L. N. Simha
(1970).
History of the Reserve Bank of India, 1935-51: Volume 1.
(Bombay, India: Reserve Bank of India, 878 p.). Reserve Bank of
India--History.
(Reserve Bank of India), S. L. N. Simha
(1975). All the Bank’s Men: Management of the Reserve Bank of
India. (Madras, India: Institute for Financial Management
and Research, 140 p.). Reserve Bank of India--History; Bank
management--India--History.
(Reserve Bank of India), E.P.W. da Costa
(1985). Reserve Bank of India: Fifty Years, 1935-85.
(Bombay, India: Reserve Bank of India, 161 p.). Reserve Bank of
India--History.
(Reserve Bank of India), G. Balachandran
(1998).
The Reserve Bank of India, 1951-1967: Volume 2. (Mumbai
: Reserve Bank of India: Mumbai : Reserve Bank of India, 1,190
p.). Reserve Bank of India--History; Banks and banking,
Central--India--History.
(Reserve Bank of India), The Bank (2005).
The Reserve Bank of India, 1967-1981: Volume 3. (Mumbai,
India: Central Office, Reserve Bank of India, 1,197 p.). Reserve
Bank of India--History; Banks and banking,
Central--India--History; Banks and banking,
Central--India--Archival resources. "The first volume of the
bank’s history, published in 1970, covered the ... era of
1935-51; the second volume, published in 1998, covering the
period upto 1967, focused upon ... public policy and
institution-building; the period of 1967-81 [is] covered by the
present third volume".
(Reserve Bank of New Zealand), John Singleton
with Arthur Grimes, Gary Hawke and Frank Holmes (2006).
Innovation and Independence: The Reserve Bank of New Zealand,
1973 -2002. (Auckland, NZ: Auckland University Press,
352 p.). Reserve Bank of New Zealand. Senior Member of the
School of Economics and Finance (Victoria University of
Wellington); Senior Research Associate at Motu Economic & Public
Policy Research, Adjunct Professor of Economics (University of
Waikato), Chairman of the Board of Directors of the Reserve Bank
of New Zealand; Professor of Economic History, Head of the
School of Government (Victoria University of Wellington); Former
Director of the National Bank of New Zealand and of Lloyds Bank
NZA. How small central
bank took opportunities created by the political changes of
1980s to design unique institutional policy framework, rather
than merely adapt an off-the-shelf overseas package.
(Sveriges Riksbank), Torgny Lindgren (1968).
Riksbankens Sedelhistoria 1668-1968.
(Stockholm, Sweden: Raben & Sjogren, 239, p.). Sveriges riksbank;
Bank notes --Sweden --History..
(Sveriges Riksbank), Torgny Lindgren (1975).
Banko- och Riksgaldsrevisionerna 1782-1807.
(Stockholm, Sweden: Almqvist & Wiksell International, 202 p.).
Sveriges riksbank; Debts, Public --Sweden; Monetary policy
--Sweden; Banks and banking --Sweden; Match industry --Sweden;
International finance; Sweden --Politics and government
--1905-1950.
(Sveriges Riksbank), Gunnar Wetterberg (2009).
Money and Power: From Stockholms Banco
1656 to Sveriges Riksbank Today. (Stockholm, Sweden:
Bokförlaget Atlantis AB, p.). Head of the Policy Department
Swedish Confederation of Professional Associations.
Sveriges riksbank; Sweden
--Politics and government --1668-2008.
History of Riksbank from 1668 to present
day; political power game, economic developments over 350 years;
why bank looks as it does now.
(State Bank of India), Amiya Kumar Bagchi
(1987-2003).
The Evolution of the State Bank of India, The Roots, 1806-1876.
(New York, NY: Oxford University Press, 3 Vols.). State Bank of
India; State Bank of India--History; Finance--India--History;
India--Economic conditions. Contents: [1], pt. 1. The Early
Years, 1806-1860. pt. 2. Diversity and Regrouping, 1860-1876 --
v. 3 The Era of the Imperial Bank of India, 1921-1955.
Kim Abildgren (2010).
Monetary History of Denmark, 1990-2005. (Copenhagen,
Denmark: Danmarks Nationalbank, 302 p.). Monetary policy --
Denmark -- History.
Liquat Ahamed (2009).
Lords of Finance: The Bankers Who Broke the World. (New
York, NY: Penguin Press, 576 p.). Board member of the Rohatyn
Group, Board of Trustees at the Brookings Institution; former
head World Bank's investment division; former Chief Executive
Officer of Fischer Francis Trees & Watts, Inc., subsidiary of
BNP Paribas specializing in institutional single and
multi-currency fixed income investment portfolios. Capitalists
and financiers --Biography; Bankers --Biography.
Four dominant
central bankers of inter-war period (Bank of England,
Banque de France,
Federal Reserve Bank of New York,
German Reichsbank); July 1914 - great
liquidity crisis hit global financial system; paralyzed
wholesale money market, closed world’s stock markets for months,
necessitated unprecedented government intervention in banking
system; failed to reach optimal resolution of world’s financial
problems.
Eds. Anthony B. Atkinson and Thomas Piketty
(2007).
Top Incomes Over the Twentieth Century: A Contrast Between
Continental European and English-Speaking Countries.
(New York, NY: Oxford University Press, 585 p.). Warden of
Nuffield College (Oxford); Professor of Economics at PSE and
EHESS (Paris). Income distribution--History--20th century.
Studies from 10 OECD
countries of top segment of income distribution; dramatic
changes have occurred at top of income scale throughout 20th
century; why top incomes shares fell markedly in first half of
20th century, why, more recently, there has been striking
difference in top income distribution between continental Europe
and English-speaking OECD countries, like the UK, USA, and
Australia.
Stephen H. Axilrod (2009).
Inside the Fed: Monetary Policy and Its Management, Martin
through Greenspan to Bernanke. (Cambridge, MA: MIT
Press, 216 p.). Former Staff Director for Monetary and Financial
Policy, Staff Director and Secretary of the Federal Open Market
Committee. Board of Governors of the Federal Reserve System
(U.S.); Monetary policy --United States; Banks and banking,
Central --United States; Federal Reserve banks. Inner workings
of Federal Reserve System during last fifty years; how personalities of various chairmen
affected their capacity for leadership; unintended effects of Fed's newfound "garrulousness" under
Greenspan; problems (subprime mess) inherited by current
chairman, Ben Bernanke; great leadership in monetary policy
determined by ability to push through political, social barriers
to achieve paradigm shift in policy.
Andrew Baker (2005).
The Group of Seven: Finance Ministries, Central Banks and Global
Financial Governance. (New York, NY: Routledge, 295 p.).
Group of Seven (Organization); International finance; Monetary
policy--Group of Seven countries--International cooperation;
Banks and banking, Central--Group of Seven countries.
Study of collaboration
between G7 finance ministries, central banks over last
decade.
Harold Barger (1964). The Management of
Money; A Survey of American Experience. (Chicago, IL: Rand
McNally, 422 p.). Monetary policy -- United States; Federal
Reserve banks.
Peter Bernholz (2003).
Monetary Regimes and Inflation: History, Economic and Political
Relationships. (Northampton, MA: E. Elgar, 210 p.).
Professor
Emeritus of Economics (University of Basel). Inflation (Finance)--History; Monetary policy--History; Economic
stabilization.
28 episodes
of hyperinflation in national economies in 20th century, 20
occurred after 1980; 12 largest episodes of hyperinflation
caused by financing huge public deficits through monetary
creation; hyperinflation occurs when government’s deficit
exceeds 40% of its expenditures.
Michael A. Bernstein (2001).
A Perilous Progress: Economists and Public Purpose in
Twentieth-Century America. (Princeton, NJ: Princeton
University Press, p.). Council of Economic Advisers
(U.S.)--History; Economists--United States--History--20th
century; Economics--United States--History--20th century; United
States--Economic policy--20th century.
Albert Sidney Bolles (1891). The Financial
History of the United States, from 1789 to 1860 (New York,
NY: D. Appleton, 621 p.). Finance--History.
Roger Bootle (1996).
The Death of Inflation: Surviving and Thriving in the Zero Era.
(Sonoma, CA: Nicholas Brealey Pub. Chief Economist of Hongkong &
Shanghai Banking Corp. Inflation (Finance); Cost and standard of
living; Interest rates; Finance, Personal.
--- (2004).
Money for Nothing: Real Wealth, Financial Fantasies, and the
Economy of the Future. (Yarmouth, ME: Nicholas Brealey
Pub., 380 p.). Chief Economist of Hongkong & Shanghai Banking
Corp. Economic forecasting--United States; Business
cycles--United States; Deflation (Finance)--United States;
Money--United States; United States--Economic policy--2001-;
United States--Economic conditions--2001-.
Eds. Michael D. Bordo, Roberto Cortés-Conde
(2001).
Transferring Wealth and Power from the Old to the New World:
Monetary and Fiscal Institutions in the 17th through the 19th
Century. (New York, NY: Cambridge University Press, 482
p.). Rutgers University, Universidad de San Andres. Economic
history; Fiscal policy--Europe--History; Monetary
policy--Europe--History; International economic
relations--History; Europe--Economic conditions.
Scott Bittle and Jean Johnson (2008).
Where Does the Money Go?: Your Guided Tour to the Federal Budget
Crisis. (New York, NY: Collins, 336 p.). Executive
Editor of Public Agenda Online; Executive Vice President of
Public Agenda. Budget deficits--United States; Public
welfare--United States--Finance; Budget--United States; United
States--Appropriations and expenditures. Guide to deciphering jargon of U.
S. budget problem - from $9 trillion and growing debt to fact
that government has spent more on programs, services than it has
collected in taxes for 31/35 years; why elected leader have
failed to effectively address this issue, what to do to protect
the future.
Anthony S. Campagna (1987).
U.S. National Economic Policy, 1917-1985. (New York, NY:
Praeger, 642 p.). United States -- Economic policy.
Maxwell A. Cameron and Brian W. Tomlin (2000).
The Making of Nafta: How the Deal Was Done (Ithaca, NY:
Cornell University Press, 264 p.). Canada. Treaties, etc. 1992
Oct. 7 --History; Free trade--North America; Free trade--United
States; Free trade--Canada; Free trade--Mexico; North
America--Commercial treaties--History.
W. Stansbury Carnes and Stephen D. Slifer
(1991).
The Atlas of Economic Indicators: A Visual Guide to Market
Forces and the Federal Reserve (New York, NY:
HarperBusiness, 232 p.). Senior Economist and chief financial
market economist for Shearson Lehman Brothers. Board of
Governors of the Federal Reserve System (U.S.); Economic
indicators.
Filippo Cesarano (2006).
Monetary Theory and Bretton Woods: The Construction of an
International Monetary Order. (New York, NY: Cambridge
University Press, 256 p.). Head of the Historical Research
Office of the Bank of Italy. United Nations Monetary and
Financial Conference (1944 : Bretton Woods, N.H.)--History;
International finance--History; Monetary policy--History.
Bretton Woods system suffered
from latent inconsistencies which fatally undermined the
foundations of the postwar monetary architecture, brought about
epochal transition from commodity money to fiat money.
Ed. David C. Colander and Dewey Daane with a
foreword by William E. Simon; Richard V. Adams ... [et al]
(1994).
The Art of Monetary Policy. (Armonk, NY: M.E. Sharpe,
216 p.). Monetary policy -- United States; Monetary policy.
Robert A. Degen (1987).
The American Monetary System: A Concise Survey of Its Evolution
Since 1896. (Lexington, MA: Lexington Books, 242 p.).
Money--United States--History; Monetary policy--United
States--History; Banks and banking--United States--History.
Davis Rich Dewey (1968). Financial History
of the United States (New York, NY: A.M. Kelley, 600 p.).
Finance, Public--History; Finance, Public--Bibliography;
Tariff--History.
Armand van Dormael (1978).
Bretton Woods: Birth of a Monetary System. (New York,
NY: Holmes & Meier, 322 p.). United Nations Monetary and
Financial Conference (1944 : Bretton Woods, N.H.)--History;
International finance--History.
Ed. Kenneth H. F Dyson (2008).
The Euro at 10: Europeanization, Power, and Convergence.
(Oxford, UK: Oxford University Press, 472 p.). Research
Professor in European Politics in the School of European Studies
(Cardiff University, Wales). Economic and Monetary Union; Euro;
Euro area; Europe --Economic integration; European Union
countries --Economic policy. January 2009 -
10th anniversary of Euro Area; how, in what ways, has euro Europeanized states
(members and non-members), their institutions, policies, politics? three key sectors (financial markets, wages collective
bargaining, welfare reform).
Barry Eichengreen (1996).
Globalizing Capital: A History of the International Monetary
System. (Princeton, NJ: Princeton University Press, 223
p.). John L. Simpson Professor of Economics and Political
Science (University of California, Berkeley). International
finance--History; Gold standard--History.
--- (2006).
Global Imbalances and the Lessons of Bretton Woods.
(Cambridge, MA: MIT Press, 187 p.). George C. Pardee and Helen
N. Pardee Professor of Economics and Political Science
(University of California, Berkeley). United Nations Monetary
and Financial Conference (1944 : Bretton Woods, N.H.);
International finance. Two most salient differences
between Bretton Woods System (1958-1973) and now: 1) twin
deficits, 2) low savings rate do not augur well for
sustainability of U. S. international position; current
constellation of exchange rates, payments imbalances unlikely to
last as long as original Bretton Woods System.
Anthony M. Endres (2005).
Great Architects of International Finance: The Bretton Woods Era.
(New York, NY: Routledge, 257 p.). United Nations Monetary and
Financial Conference (1944 : Bretton Woods, N.H.); International
finance--History--20th century; Monetary reformers.
Gerald D. Feldman (1993).
The Great Disorder: Politics, Economics, and Society in the
German Inflation, 1914-1924. (New York, NY: Oxford
University Press, 1,011 p.). Institute of European Studies
(University of California, Berkeley). Inflation
(Finance)--Germany--History--20th century; Monetary
policy--Germany--History--20th century; Economic
stabilization--Germany; Germany--Economic policy--1918-1933;
Germany--Economic conditions--1918-1945. Most famous, spectacular instance
of inflation in modern industrial society (Germany during,
following World War I). Author studies inflation as a strategy
of social pacification, economic reconstruction, mechanism for
escaping domestic, international indebtedness; studies German
society under tension of inflation and hyperinflation; explores
ways in which Germany's hyperinflation, stabilization were
linked to Great Depression, rise of National Socialism; sets
German inflation within broader issues of maintaining economic
stability, social peace, democracy.
Edited and with an Introductory Essay by
Martin Feldstein (1994).
American Economic Policy in the 1980s. (Chicago, IL:
University of Chicago Press, 823 p.). United States--Economic
policy--1981-1993.
Eds. Robert M. Fishman and Anthony M. Messina
(2006).
The Year of the Euro: The Cultural, Social, and Political import
of Europe’s Common Currency. (Notre Dame, IN: University
of Notre Dame Press, 328 p.). professor of sociology and a
fellow of the Kellogg Institute for International Studies and
the Nanovic Institute for European Studies (University of Notre
Dame); associate professor of political science and a fellow of
the Kellogg Institute for International Studies and Nanovic
Institute for European Studies (University of Notre Dame).
Euro--Social aspects--Congresses; Euro--Political
aspects--Congresses. Whether new common currency will reshape Europe's cultures,
societies, political systems and, if so, in what ways.
Marc Flandreau; translated by Owen Leeming;
revised and enlarged by the author (2004).
The Glitter of Gold: France, Bimetallism, and the Emergence of
the International Gold Standard, 1848-1873. (New York,
NY: Oxford University Press, 319 p.). Professor of International
Economic Relations (Institut d'Etudes Politiques de Paris).
Bimetallism--History--19th century;
Bimetallism--France--History--19th century; International
finance--History--19th century; International
liquidity--History--19th century; Currency
convertibility--History--19th century; Gold
standard--History--19th century; Monetary
policy--France--History--19th century.
Robert P. Flood and Peter M. Garber (1994).
Speculative Bubbles, Speculative Attacks, and Policy Switching.
(Cambridge, MA: MIT Press, 493 p.). Monetary policy--United
States; Foreign exchange rates--United States;
Speculation--United States.
Eds. Jeffrey Frankel, Peter Orszag (2002).
American Economic Policy in the 1990s. (Cambridge, MA:
MIT Press, 1119 p.). Kennedy School of Government, Brookings
Institution, respectively. United States--Economic
policy--1993-2001; United States--Economic
conditions--1981-2001.
Milton Friedman (1992).
Money Mischief: Episodes in Monetary History. (New York,
NY: Harcourt Brace Jovanovich, 274 p.). Monetary
policy--History; Monetary policy--United States--History;
Money--History.
Milton Friedman and Anna Jacobson Schwartz
(1963).
A Monetary History of the United States, 1867-1960.
(Princeton, NJ: Princeton University Press, 860 p.).
Money--United States--History; Currency question--United
States--History; Monetary policy--United States-- History.
Massive historical data, sharp analytics support claim that
monetary policy--steady control of the money supply--matters
profoundly in management of nation's economy, especially in
navigating serious economic fluctuations.James K. Galbraith (2000).
Created Unequal: The Crisis in American Pay. (Chicago,
IL: University of Chicago Press, [orig. pub. 1998]). Liberal
Economist (son of John Galbraith). Wages--United States; Income
distribution--United States; Labor market--United States; Social
conflict--United States; United States--Economic
policy--1981-1993; United States--Economic policy--1993-2001.
Issue of the day - monetary policy and its impact on economic
growth and income around the world.
John Gillingham (2006).
Design for a New Europe. (New York, NY: Cambridge
University Press, 298 p.). Professor of History (University of
Missouri, St. Louis). European Union; Europe--Politics and
government--1945-. European Union after the rejection of the Constitutional Treaty.
Author maps out a route to save the Union.
Charles A.E. Goodhart (1988).
The Evolution of Central Banks. (Cambridge, MA: MIT
Press, 205 p.). Banks and banking, Central--History; Banks and
banking, Central; Free banking.
Peter Hartcher (1998).
The Ministry: How Japan's Most Powerful Institution Endangers
World Markets. (Boston, MA: Harvard Business School
Press, 310 p.). Political Editor (Sydney Morning Herald), Former
Asia-Pacific Editor (The Australian Financial Review). Japan.
O¯kurasho¯; Finance, Public--Japan; Japan--Economic
policy--1945-.
IRS, SEC,
FED, U.S. Treasury - in one agency; most powerful and the least
scrutinized ministry in Japan.
Thomas Havrilesky (1995).
The Pressures on American Monetary Policy. (Boston, MA:
Kluwer Academic Publishers, 381 p. [2nd ed.]). Board of
Governors of the Federal Reserve System (U.S.); Monetary
policy--United States.
Robert Heilbroner and Peter Bernstein (1989).
The Debt and the Deficit: False Alarms/Real Possibilities.
(New York, NY: Norton, 144 p.). Debts, Public--United States;
Budget deficits--United States.
Robert L. Hetzel (2008).
The Monetary Policy of the Federal Reserve: A History.
(New York, NY: Cambridge University Press, 390 p.). Senior
Economist and Research Advisor in the Research Department
(Federal Reserve Bank of Richmond). United States. Federal
Reserve Board; Monetary policy --United States; Banks and
banking, Central --United States.
Emergence, nature of modern, inflation-targeting central bank;
evolution of monetary standard from start of Federal Reserve
through end of Greenspan era in context of intellectual,
political environment of the time.
Eds. Michael M. Hutchison and Frank Westermann
(2006).
Japan’s Great Stagnation: Financial and Monetary Policy Lessons
for Advanced Economies. (Cambridge, MA: MIT Press, 290
p.). Professor of Economics (University of California, Santa
Cruz); Chair for International Economic Policy in the Department
of Economics and Business Administration (University of
Osnabrueck, Germany). Recessions--Japan; Monetary policy--Japan;
Finance--Japan; Japan--Economic policy--20th century;
Japan--Economic conditions--20th century. Importance of a sound financial
sector in fostering robust growth and healthy economies--and the
enormous economic costs of a dysfunctional financial system.
Karl Kaltenthaler (2006).
Policy-Making in the European Central Bank: The Masters of
Europe’s Money. (Lanham, MD: Rowman & Littlefield, 208
p.). European Central Bank; Monetary policy--European Union
countries. ECB
decision-makers have created model that attempts to replicate
Bundesbank's success at European level and to lend
credibility to their own policies.
Paul Krugman (1997).
The Age of Diminished Expectations: U.S. Economic Policy in the
1990s (Cambridge, MA: MIT Press, 232 p. [3rd ed.]).
Economic forecasting--United States; United States--Economic
policy--1981-.
Diane B. Kunz (1987).
The Battle for Britain’s Gold Standard in 1931. (New
York, NY: Croom Helm, 207 p.). Monetary policy--Great
Britain--History; Gold standard--History.
David Kynaston (1980).
The Chancellor of the Exchequer. (Lavenham, UK: T.
Dalton, 160 p.). Great Britain. Treasury--History.
Susan Lee (1996).
Hands Off: Why the Government Is a Menace to Economic Health.
(New York, NY: Simon & Schuster, 252 p.). United
States--Economic policy--1993-2001; United States--Economic
policy--1981-1993; United States--Economic policy.
Nathan Lewis (2007).
Gold: The Once and Future Money. (Hoboken, NJ: Wiley,
447 p.). Formerly the Chief International Economist at
Polyconomics, Inc. Monetary policy; Business cycles; Gold
standard.
Case for
worldwide return to gold standard; gold has been adopted as
money because it works; gold standard produced decades,
centuries of stable money and economic abundance.
David Marsh (2009).
The Euro: The Politics of the New Global Currency. (New
Haven, CT: Yale University Press, 352 p.). Former Financial
Times journalist, Chairman of London & Oxford Capital Markets.
Money --European Union countries --History; Euro --History;
Monetary policy --European Union countries --History.
First
comprehensive political, economic account of birth, development
of Euro (supranational currency for 15 European countries,
world’s second-largest reserve currency); rivalries, intrigues,
deal making that brought about currency for Europe; achievements
and shortcomings of its first decade of existence; remarkable
triumph of political will, Euro’s importance for global economy.
Matt Marshall (1999). The Bank: The Birth
of Europe's Central Bank and the Rebirth of Europe's Power
(London, UK: Random House Business Books, 434 p.). Bonn
Correspondent for the Wall Street Journal Europe. European
Central Bank; Europe--Economic integration.
Thomas Mayer (1999).
Monetary Policy and the Great Inflation in the United States:
The Federal Reserve and the Failure of Macroeconomic Policy,
1965-1979. (Northampton, MA: Edward Elgar, 151 p.).
Board of Governors of the Federal Reserve System (U.S.);
Monetary policy--United States--History; Inflation
(Finance)--United States--History; United States--Economic
policy--1961-1971; United States--Economic policy--1971-1981.
Mark Metzler (2006).
Lever of Empire: The International Gold Standard and the Crisis
of Liberalism in Prewar Japan. (Berkeley, CA: University
of California Press, 370 p.). Assistant Professor of History and
Asian Studies (University of Texas, Austin). Inoue, Junnosuke,
1869-1932; Takahashi, Korekiyo, 1854-1936;
Money--Japan--History; Currency question--Japan--History; Gold
standard--History; Monetary policy--Japan--History;
Liberalism--Japan--History. Complex dynamics of money,
empire, and global hegemony.
Laurence H. Meyer (2004).
A Term at the Fed: An Insider's View. (New York, NY:
HarperCollins, 288 p.). Federal Reserve Board (1996 - 2002).
Board of Governors of the Federal Reserve System (U.S.); United
States. Federal Open Market Committee; Federal Reserve banks;
Monetary policy--United States.
Iwan W. Morgan (1995).
Deficit Government: Taxing and Spending in Modern America.
(Chicago, IL: Ivan R. Dee, 212 p.). Principal Politics and
Modern History Lecturer (London Guildhall University). Budget
deficits--United States; Government spending policy--United
States; Fiscal policy--United States. entury of success."
Irwin L. Morris (2000).
Congress, the President, and the Federal Reserve: The Politics
of American Monetary Policy-Making. (Ann Arbor, MI:
University of Michigan Press, 165 p.). Assistant Professor of
Political Science (University of Maryland). Board of Governors
of the Federal Reserve System (U.S.); Monetary policy--United
States.
Peter G. Peterson; foreword by Warren B.
Rudman and Paul E. Tsongas (1993).
Facing Up: How To Rescue the Economy from Crushing Debt and
Restore the American Dream. (New York, NY: Simon &
Schuster, 411 p.). Debts, Public--United States; United
States--Economic policy--1981-1993; United States--Economic
conditions--1981-.
Robert Rubin with Jacob Weisberg (2003).
Dealing with an Uncertain World: Making Decisions on Wall Street
and in Washington. (New York, NY: Random House, 427 p.).
Rubin, Robert Edward, 1938- ; United States. Dept. of the
Treasury--Officials and employees--Biography; Finance
ministers--United States--Biography; Fiscal policy--United
States; United States--Economic policy--1993-2001.
Jonathan A. Rodden (2005).
Hamilton’s Paradox: The Promise and Peril of Fiscal Federalism.
(New York, NY: Cambridge University Press, 313 p.). Ford Career
Development Associate Professor of Political Science (MIT).
Intergovernmental fiscal relations; Central-local government
relations; Revenue sharing. Why different countries have had
dramatically different experiences with sub-national fiscal
discipline.
Robert J. Samuelson (2008).
The Great Inflation and Its Aftermath: The Transformation of
America's Economy, Politics, and Society. (New York, NY:
Random House, 336 p.). Columnist for Newsweek and The Washington
Post. Inflation (Finance) --United States; United States
--Economic policy; United States --Economic conditions.
1960-1979 - inflation rose from barely more than 1%
to
nearly 14%; greatest peacetime inflationary spike in nation’s history,
massive repercussions (Ronald Reagan’s election to
presidency in 1980, stagnation in living standards, growing
belief–both in America, abroad–that the great-power status of
United States was ending); origins, rise of double-digit
inflation, its fall in brutal 1981-82 recession, engineered by
Federal Reserve chairman Paul Volcker, with staunch
backing of Reagan (end of high inflation triggered economic,
social changes - stock market, housing booms;
American business became more productive, much less protective
of workers; globalization encouraged).
James D. Savage (1988).
Balanced Budgets & American Politics. (Ithaca, NY:
Cornell University Press, 350 p.). Budget--United
States--History; Budget deficits--United States--History;
Deficit financing--United States--History; United
States--Politics and government.
James D. Savage (2005).
Making the EMU: The Politics of Budgetary Surveillance and the
Enforcement of Maastricht. (New York, NY: Oxford
University Press, 239 p.). Economic and Monetary Union; Treaty
on European Union (1992); European Union countries--Economic
integration.
Karl Schriftgiesser (1960). Business Comes
of Age; The Story of the Committee for Economic Development and
Its Impact Upon the Economic Policies of the United States,
1942-1960. (New York, NY: Harper, 248 p.). Committee for
Economic Development.
Bernard Shull (2005).
The Fourth Branch: The Federal Reserve's Unlikely Rise to Power
and Influence. (Westport, CT: Praeger Publishers, 272
p.). Professor Emeritus in the Department of Economics (Hunter
College). Board of Governors of the Federal Reserve System
(U.S.)--History; United States--Economic policy--20th century.
Pierre L. Siklos (2002).
The Changing Face of Central Banking : Evolutionary Trends Since
World War II. (New York, NY: Cambridge University Press,
347 p.). Professor (Wilfrid Laurier University). Banks and
banking, Central--History; Monetary policy--History.
John Singleton (2010).
Central Banking in the Twentieth Century. (New York,
NY: Cambridge University Press, 337 p.). Reader in Economic
History (Victoria University of Wellington). Banks and banking,
Central -- History. How central banks, profession of central
banking have evolved, spread across globe during 20th century;
central banking world has experienced two revolutions in
thinking and practice: 1) after depression of early 1930s, 2)
response to high inflation of 1970s, 1980s; radical change in central banking
profession: 1900 - specialised type of banker; 2011 - also sophisticated economist, public official; explain
role of central banks during recent global financial crisis.
Robert Solomon (1982).
The International Monetary System, 1945-1981. (New York,
NY: Harper & Row, 432 p. [updated and expanded ed.]). Former
Chief International Economist for the Federal Reserve Board.
International finance.
--- (1999).
Money on the Move: The Revolution in International Finance Since
1980. (Princeton, NJ: Princeton University Press, 210
p.). Former Chief International Economist for the Federal
Reserve Board. International finance.
Steven Solomon (1995).
The Confidence Game: How Unelected Central Bankers Are Governing
the Changed Global Economy. (New York, NY: Simon &
Schuster, 606 p.). Banks and banking, Central; Money supply;
International finance; Bankers; Government executives.
Roger W. Spencer, John H. Huston (2006).
The Federal Reserve and the Bull Markets: From Benjamin Strong
to Alan Greenspan. (Lewiston, NY: Edwin Mellen Press,
251 p.). United States. Federal Reserve Board; Bull
markets--United States; Stock exchanges--United States.
Relationship of Federal Reserve
policy to stock market activity; monetary policy responses of
Benjamin Strong, William McChesney Martin Jr., Alan Greenspan to
three major bull markets that occurred during their respective
tenures.
Beryl W. Sprinkel (1964).
Money and Stock Prices. (Homewood, IL: R.D. Irwin, 201
p.). Stocks; Monetary policy; Liquidity (Economics).
--- (1971).
Money and Markets; A Monetarist View. (Homewood, IL:
R.D. Irwin, 305 p.). Money; Business cycles.
Donald R. Stabile and Jeffrey A. Cantor
(1991).
The Public Debt of the United States: An Historical Perspective,
1775-1990 (New York, NY: Praeger, 243 p.). Debts,
Public--United States--History.
--- (1998).
The Origins of American Public Finance: Debates Over Money,
Debt, and Taxes in the Constitutional Era, 1776-1836.
(Westport, CT: Greenwood Press, 208 p.). Professor of the
College at St. Mary's College of Maryland. Finance,
Public--United States--History--18th century; Finance,
Public--United States--History--19th century.
Benn Steil and Robert E. Litan (2006).
Financial Statecraft: The Role of Financial Markets in American
Foreign Policy. (New Haven, CT: Yale University Press,
208 p.). Director of International Economics at the Council on
Foreign Relations; Vice President of Research and Policy at the
Kauffman Foundation and Senior Fellow in the Economic Studies
Program at the Brookings Institution. Financial
institutions--United States; Capital movements--Government
policy--United States; International finance; International
relations; United States--Foreign relations.
From trade in goods and services
to purchase and sale of financial assets across borders. From
power over imports and exports to influence the behavior of
other countries to power to influence international capital
flows.
Herbert Stein (1969).
The Fiscal Revolution in America. (Chicago: University
of Chicago Press, 526 p.). Served on Nixon's Council of Economic
Advisers (1969-72), Chairman of CEA until 1974; Professor of
Economics (University of Virginia), American Enterprise
Institute (conservative research organization). Fiscal Policy,
Monetary Policy.
--- (1989).
Governing the $5 Trillion Economy. (New York, NY: Oxford
University Press, 145 p.). Fiscal Policy, Budget.
Paul Krooss Studenski, Herman Edward (1963).
Financial History of the United States: Fiscal, Monetary,
Banking, and Tariff, Including Financial Administration and
State and Local Finance (New York, NY: McGraw-Hill, 605
p.). Finance--History.
Peter Temin (1976).
Did Monetary Forces Cause the Great Depression? (New
York, NY: Norton, 201 p.). Depressions--1929--United States;
Money supply--United States; Monetary policy--United States.
Richard H. Timberlake (1978).
The Origins of Central Banking in the United States.
(Cambridge, MA: Harvard University Press, 272 p.). Monetary
policy--United States--History; Banks and banking,
Central--United States--History.
--- (1993).
Monetary Policy in the United States: An Intellectual and
Institutional History. (Chicago, IL: University of
Chicago Press, 502 p.). Monetary policy--United States--History.
Richard von Glahn (1996).
Fountain of Fortune: Money and Monetary Policy in China,
1000-1700. (Berkeley, CA: University of California
Press, 338 p.). Professor of History (University of California,
Los Angeles). Money -- China -- History; Monetary policy --
China -- History.
Kenneth Weiher (1992).
America's Search for Economic Stability: Monetary and Fiscal
Policy since 1913 (New York, NY: Twayne Publishers, 241
p.). Monetary policy--United States--History--20th century;
Fiscal policy--United States--History--20th century.
Steven R. Weisman (2002).
The Great Tax Wars: Lincoln to Wilson - The Fierce Battles Over
Money and Power that Transformed the Nation. (New York,
NY: Simon & Schuster, 419 p.). Editorial Writer (New York
Times). Income tax--United States--History; Taxation--United
States--History.
Richard Werner (2003).
Princes of the Yen: Japan's Central Bankers and the
Transformation of the Economy. (Armonk, NY: M. E.
Sharpe, 362 p.). Banks and banking, Central--Japan; Monetary
policy--Japan; Japan--Economic policy--1945-.
David C. Wheelock (1991).
The Strategy and Consistency of Federal Reserve Monetary Policy,
1924-1933. (New York, NY: Cambridge University Press,
126 p.). Assistant Vice President and Economist, Federal Reserve
Bank of St. Louis. Board of Governors of the Federal Reserve
System (U.S.); Federal Reserve banks; Monetary policy--United
States--History--20th century.
Ted Wilson (2000).
Battles for the Standard: Bimetallism and the Spread of the Gold
Standard in the Nineteenth Century. (Burlington, VT:
Ashgate, 200 p.). Gold standard--History; Bimetallism--History.
John H. Wood (2005).
A History of Central Banking in Great Britain and the United
States. (New York, NY: Cambridge University Press, 439
p.). R. J. Reynolds Professor of Economics (Wake Forest
University). Bank of England--History; Board of Governors of the
Federal Reserve System (U.S.)--History; Banks and banking,
Central--Great Britain--History; Monetary policy--Great
Britain--History; Banks and banking, Central--United
States--History; Monetary policy--United States--History. Monetary
changes in the lives of these British and American institutions;
central banking history credits Englishmen with developing
central-bank crisis management theory; 1797 - Sir Francis
Baring, English merchant banker, applied the term "dernier
resort" to the Bank of England.
David Woodruff (1999).
Money Unmade: Barter and the Fate of Russian Capitalism.
(Ithaca, NY: Cornell University Press, 228 p.). Monetary
policy--Russia (Federation); Barter--Russia (Federation);
Financial crises--Russia (Federation); Russia
(Federation)--Economic conditions--1991-.
Robert E. Wright (2002).
The Wealth of Nations Rediscovered: Integration and Expansion in
American Financial Markets, 1780-1850. (New York, NY:
Cambridge University Press, 240 p.). Finance--United
States--History; Wealth--United States--History; United
States--Economic policy; United States--Economic conditions.
_____________________________________________________________________
LINKS
Bank of England Museum
www.bankofengland.co.uk/education/museum
Bank of England is the central bank of the United Kingdom.
Sometimes known as the 'Old Lady' of Threadneedle Street, the
Bank was founded in 1694, nationalised on 1 March 1946, and
gained independence in 1997. Standing at the centre of the UK's
financial system, the Bank is committed to promoting and
maintaining monetary and financial stability as its contribution
to a healthy economy.
Board of Governors of the Federal
Reserve System [pdf]
http://www.federalreserve.gov/
Those users who are looking for all things related to the
Federal Reserve System will need to look no further than this
well-designed and thorough website. Visitors will find a number
of links on the left-hand side of the homepage that will take
them directly to information about monetary policy, payment
systems, economic research and data, and basic consumer
information. One rather fine feature is the Beige Book, which is
a report published eight times per year. In the Beige Book,
users will find a collection of anecdotal reports on current
economic conditions culled from interviews with key business
contacts, economists, and market experts. A great deal of
additional information can be obtained on the homepage,
including a complete listing of recent statistical releases and
information about job opportunities at the Fed.
Death and Taxes
http://www.deviantart.com/deviation/9410862/
A visual analysis of the US budget, scaled proportionally to
budget allocations.
Fed 101: The Federal Reserve Today
http://www.federalreserveeducation.org/fed101/
Information of the Federal Reserve System and economic
education.
The Fed Challenge: An Economics
Competition for High Students
http://www.rich.frb.org/research/econed/challenge.html
The Fed Challenge is an academic competition designed to expand
the community's understanding of the Federal Reserve System's
unique role in the economy and the importance of Federal Open
Market Committee decisions. This endeavor also promotes the
study of economics as a possible future career choice for high
school students. Further, the competition is framed to assist in
the development of students' research, group dynamics,
presentation, and critical thinking skills.
Federal Reserve Bank of Boston: Public
Policy Discussion Papers [pdf]
http://www.bos.frb.org/economic/ppdp/index.htm
Begun in 2004, visitors can view an archive of previously
published works. Recent titles in the have included "Social
Dynamics of Obesity", "Managing the Risk in Pension Plans and
Recent Pension Reforms", and "The Theory of Life-Cycle Saving
and Investing". If visitors are interested in other related
topics, they should also look at the "Related Links" section,
which features direct links to their policy brief archives and
other Boston Federal Reserve publications.
FedSpending.org
http://www.fedspending.org/
OMBWatch and the Sunlight Foundation have organized federal
spending data into a database "to give journalists, analysts,
government officials, and regular citizens easy access to
information on federal spending." Browsable by contractor name
or grant recipient, top 100 contractors/grant recipients,
contracting or grant-awarding agency, state or congressional
district where service is rendered, competition type, or
product/service/type of assistance. The site includes tutorials,
an FAQ file, and a glossary.
Finance: History and Policy
http://financehistoryandpolicy.blogspot.com/
This blog will show that financial history is both intrinsically
interesting and of crucial importance to many aspects of public
policy, ranging from Social Security to construction to
macroeconomic stability.
Frequently Asked Questions: The Federal
Open Market Committee (FOMC)
http://www.federalreserve.gov/generalinfo/faq/faqfomc.htm
Questions and answers about the "monetary policymaking body of
the Federal Reserve System," which consists of the members of
the Federal Reserve System Board of Governors and the Federal
Reserve Bank presidents. Includes links to meeting statements
and minutes, a meeting calendar, a list of committee members,
and information about the structure and monetary policy of the
committee. Subjects: Federal Reserve banks; Monetary policy;
Open market operations; United States. Federal Open Market
Committee.
History of the US Income Tax
http://www.loc.gov/rr/business/hottopic/irs_history.html
"If, in the midst of sorting receipts and studying the latest
changes in the US income tax laws, you suddenly wonder 'What is
the origin this annual ritual in the weeks leading up to April
15th?' here are some places you can go for answers." Features
links to information from the Internal Revenue Service and other
resources, images from Library of Congress collections, and
reading suggestions. From Ellen Terrell, Library of Congress
Business Reference Services. Subjects: Income tax.
Important Dates in U. S. Treasury
History
http://www.ustreas.gov/education/history/events/undated.shtml
National Debt Graph
http://zfacts.com/p/318.html
Graph of the gross national debt as a percent of the nation's
annual income for 1950 through the most recent federal budget
projections. "The data plotted here were taken directly from the
White House web site and plotted without modification." Includes
links to related material about contributions to the public debt
from the presidential terms of George W. Bush and Ronald Reagan.
From an author and economist who consults for electricity
markets.
The Research Library of the Federal
Reserve Bank of St. Louis
http://liber8.stlouisfed.org/
Maintained by the staff at the Federal Reserve Bank of St.
Louis, this website provides a host of thoughtful papers on
economic policy, along with offering links to a wide variety of
related resources, such as those dealing with the state of
global economic affairs and economic history and price indices.
From the homepage, visitors can browse through international,
national, and regional research papers that include works titled
"Income Taxes: Who Pays and How Much?" and "The United States:
Still the Growth Engine for the World Economy?" Moving down the
homepage, visitors will come to a brief listing of helpful
economic indicators, such as the consumer price index and new
housing starts. Finally, visitors can read issues of the
"Regional Economist", a quarterly publication which addresses
national and regional economic trends.
Stanford Institute for Economic Policy
Research [Windows Media Player,
iTunes, pdf]
http://siepr.stanford.edu
The Stanford Institute for Economic Policy Research (SIEPR),
founded 1982. Podcasts include conversations about the long-term
impacts of the events of 9/11 and inflation in both China and
the United States. Along with these podcasts, visitors will also
find webcasts of related conferences, symposia, and seminars on
a wide range of topics in economics. The site is rounded out by
a calendar of events and a place where interested parties can
provide feedback to staff members at SIEPR.
Tax History Project
http://taxhistory.tax.org/
Established "to provide scholars, policymakers, students, the
media and citizens with information about the history of
American taxation." Site draws documents from files at the
National Archives, Roosevelt and Truman Presidential Libraries,
the White House, Congress, and the U.S. Treasury, and includes
tax returns for former presidents Clinton, Bush, Reagan, Carter,
Nixon, and Franklin Roosevelt; posters about bonds and filing
taxes; a tax history virtual museum; and cartoons about paying
taxes. Subjects: Taxation -- United States -- History.
U.S. Monetary Policy: An
Introduction
http://www.frbsf.org/publications/federalreserve/monetary/index.html
Understanding the activities and operations of the U.S. Federal
Reserve and its monetary policies (created by Federal Reserve
Bank of San Francisco): brief overview of U.S. monetary policy,
five sections (address questions like "How is the Federal
Reserve structured?", "What are the tools of U.S. monetary
policy?"); Site includes a glossary of terms, covers everything
from "absolute advantage" to "zero-coupon mortgage", list of
suggested readings, search engine, place to sign up for the
Bank's RSS feed.
U.S. National Debt Clock
http://www.brillig.com/debt_clock/
Up-to-the-second display of the outstanding public debt and each
citizen's share of the debt. Also provides links to news and a
FAQ. Information comes from the U.S. Department of the Treasury
and the U.S. Bureau of the Census' Population Clock.
What Fuels the National Debt?
http://www.investopedia.com/articles/04/011404.asp
Brief overview of the factors involved in the creation of the
national debt. Discusses the roles of Congress and the Treasury
Department, and how part of this debt may be financed during
wartime through war bonds issued by the U.S. government. From a
company that provides investment advice.
What Was the Price of Gold Then?
http://www.eh.net/hmit/goldprice/
Find the price of gold for a specific year or time period.
Includes options for British and U.S. official prices, New York
market price, gold/silver price ratio, and London market price.
Dates vary for each section and range from 1257 through 2001.
Includes related essays on the history and importance of gold
prices. From Economic History Services, based at Miami
University in Oxford, Ohio.
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