Current Federal Reserve Policy under the Lens of Economic History: A Review Essay

Stephen Williamson

Journal of Economic Literature, 2016, vol. 54, issue 3, 922-34

Abstract: This review essay reviews the volume edited by Owen Humpage, Current Federal Reserve Policy under the Lens of Economic History: Essays to Commemorate the Federal Reserve System’s Centennial, and provides a broader perspective on central-banking issues. The papers in the Humpage volume address various aspects of central banking history, money, and private banking, with a focus on putting recent Fed policies in perspective. The topics covered include the role of the central bank as lender of last resort, the effects of open-market operations versus central-bank lending, central-bank independence, the political economy of monetary unions, financial crises, the effects of unconventional monetary policies, commodity monies, and the Canadian financial system as a natural experiment.

JEL-codes: E32 E52 E58 G01 G21 G28 N10 (search for similar items in EconPapers)
Date: 2016
Note: DOI: 10.1257/jel.20151354
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Citations: View citations in EconPapers (5)

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