Allan H. Meltzer's Books

Money and the Economy

Issues in Monetary Analysis

By: Karl Brunner,Allan H. Meltzer

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Money and the Economy

Issues in Monetary Analysis

By: Karl Brunner,Allan H. Meltzer

This volume offers a unique perspective on a key issue of monetary economics: the effect of money on output. Karl Brunner and Allan Meltzer address the theoretical aspects of this issue with the purpose of understanding their policy implications. They offer an historical and at times provocative overview on the relationship between money and output, and go on to present their well-known model of a monetary economy, before examining the real sector. Throughout the volume, their views are confronted with competing explanations in order to highlight differences. The monetarist flavour of the volume emerges most clearly in frequent arguments pointing to the relative stability of the private sector.

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Page Count

414

Publisher

Cambridge University Press

Published Date

ISBN 10

0521599741

ISBN 13

9780521599740

A History of the Federal Reserve, Volume 1

1913-1951

By: Allan H. Meltzer

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A History of the Federal Reserve, Volume 1

1913-1951

By: Allan H. Meltzer

Allan H. Meltzer's monumental history of the Federal Reserve System tells the story of one of America's most influential but least understood public institutions. This first volume covers the period from the Federal Reserve's founding in 1913 through the Treasury-Federal Reserve Accord of 1951, which marked the beginning of a larger and greatly changed institution. To understand why the Federal Reserve acted as it did at key points in its history, Meltzer draws on meeting minutes, correspondence, and other internal documents (many made public only during the 1970s) to trace the reasoning behind its policy decisions. He explains, for instance, why the Federal Reserve remained passive throughout most of the economic decline that led to the Great Depression, and how the Board's actions helped to produce the deep recession of 1937 and 1938. He also highlights the impact on the institution of individuals such as Benjamin Strong, governor of the Federal Reserve Bank of New York in the 1920s, who played a key role in the adoption of a more active monetary policy by the Federal Reserve. Meltzer also examines the influence the Federal Reserve has had on international affairs, from attempts to build a new international financial system in the 1920s to the Bretton Woods Agreement of 1944 that established the International Monetary Fund and the World Bank, and the failure of the London Economic Conference of 1933. Written by one of the world's leading economists, this magisterial biography of the Federal Reserve and the people who helped shape it will interest economists, central bankers, historians, political scientists, policymakers, and anyone seeking a deep understanding of the institution that controls America's purse strings. "It was 'an unprecedented orgy of extravagance, a mania for speculation, overextended business in nearly all lines and in every section of the country.' An Alan Greenspan rumination about the irrational exuberance of the late 1990s? Try the 1920 annual report of the board of governors of the Federal Reserve. . . . To understand why the Fed acted as it did—at these critical moments and many others—would require years of study, poring over letters, the minutes of meetings and internal Fed documents. Such a task would naturally deter most scholars of economic history but not, thank goodness, Allan Meltzer."—Wall Street Journal "A seminal work that anyone interested in the inner workings of the U. S. central bank should read. A work that scholars will mine for years to come."—John M. Berry, Washington Post "An exceptionally clear story about why, as the ideas that actually informed policy evolved, things sometimes went well and sometimes went badly. . . . One can only hope that we do not have to wait too long for the second installment."—David Laidler, Journal of Economic Literature "A thorough narrative history of a high order. Meltzer's analysis is persuasive and acute. His work will stand for a generation as the benchmark history of the world's most powerful economic institution. It is an impressive, even awe-inspiring achievement."—Sir Howard Davies, Times Higher Education Supplement

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Page Count

814

Publisher

University of Chicago Press

Published Date

ISBN 10

0226519996

ISBN 13

9780226519999

A History of the Federal Reserve, Volume 2

By: Allan H. Meltzer

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A History of the Federal Reserve, Volume 2

By: Allan H. Meltzer

Allan H. Meltzer’s critically acclaimed history of the Federal Reserve is the most ambitious, most intensive, and most revealing investigation of the subject ever conducted. Its first volume, published to widespread critical acclaim in 2003, spanned the period from the institution’s founding in 1913 to the restoration of its independence in 1951. This two-part second volume of the history chronicles the evolution and development of this institution from the Treasury–Federal Reserve accord in 1951 to the mid-1980s, when the great inflation ended. It reveals the inner workings of the Fed during a period of rapid and extensive change. An epilogue discusses the role of the Fed in resolving our current economic crisis and the needed reforms of the financial system. In rich detail, drawing on the Federal Reserve’s own documents, Meltzer traces the relation between its decisions and economic and monetary theory, its experience as an institution independent of politics, and its role in tempering inflation. He explains, for example, how the Federal Reserve’s independence was often compromised by the active policy-making roles of Congress, the Treasury Department, different presidents, and even White House staff, who often pressured the bank to take a short-term view of its responsibilities. With an eye on the present, Meltzer also offers solutions for improving the Federal Reserve, arguing that as a regulator of financial firms and lender of last resort, it should focus more attention on incentives for reform, medium-term consequences, and rule-like behavior for mitigating financial crises. Less attention should be paid, he contends, to command and control of the markets and the noise of quarterly data. At a time when the United States finds itself in an unprecedented financial crisis, Meltzer’s fascinating history will be the source of record for scholars and policy makers navigating an uncertain economic future.

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Page Count

694

Publisher

University of Chicago Press

Published Date

ISBN 10

0226520021

ISBN 13

9780226520025

A History of the Federal Reserve

1913–1951

By: Allan H. Meltzer

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A History of the Federal Reserve

1913–1951

By: Allan H. Meltzer

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815

Publisher

University of Chicago Press

Published Date

ISBN 10

0226519988

ISBN 13

9780226519982

Why Capitalism?

By: Allan H. Meltzer

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Why Capitalism?

By: Allan H. Meltzer

Why Capitalism? addresses the current debate among politicians, scholars in the political sciences, and general readers on the benefits and the supposed shortcomings of capitalism.

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Page Count

167

Publisher

OUP USA

Published Date

ISBN 10

0199859574

ISBN 13

9780199859573

A History of the Federal Reserve

Book 2, 1970–1986

By: Allan H. Meltzer

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A History of the Federal Reserve

Book 2, 1970–1986

By: Allan H. Meltzer

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Page Count

637

Publisher

University of Chicago Press

Published Date

ISBN 10

0226519961

ISBN 13

9780226519968

Why Capitalism?

By: Allan H. Meltzer

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Why Capitalism?

By: Allan H. Meltzer

Why Capitalism? addresses the current debate among politicians, scholars in the political sciences, and general readers on the benefits and the supposed shortcomings of capitalism.

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Page Count

167

Publisher

OUP USA

Published Date

ISBN 10

0199859574

ISBN 13

9780199859573

Money and the Economy

Issues in Monetary Analysis

By: Karl Brunner,Allan H. Meltzer

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Money and the Economy

Issues in Monetary Analysis

By: Karl Brunner,Allan H. Meltzer

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Solve jigsaw puzzle

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Page Count

414

Publisher

Cambridge University Press

Published Date

ISBN 10

0521599741

ISBN 13

9780521599740

Book's by Allan H. Meltzer

Money and the Economy

Money and the Economy

A History of the Federal Reserve, Volume 1

A History of the Federal Reserve, Volume 1

A History of the Federal Reserve, Volume 2

A History of the Federal Reserve, Volume 2

A History of the Federal Reserve

A History of the Federal Reserve

Why Capitalism?

Why Capitalism?

A History of the Federal Reserve

A History of the Federal Reserve

Why Capitalism?

Why Capitalism?

Money and the Economy

Money and the Economy

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