Two types of paper: the case for Federal Reserve independence

W. Michael Cox

Annual Report, 1990, 6-18

Abstract: This essay argues that central bank independence is more important today than at any time in history. Because fiscal incentives for inflation grow as government debt grows, and in view of the huge run-up in government debt in the 1980s, with prospects for continued growth in the 1990s, we believe that the principal mission of our nation's central bank is at risk. Our aim is to provide a convincing case for the view that the power to spend money and the power to print money must be separate and independent powers within the government.

Keywords: Federal Reserve System - Independence; Inflation (Finance); Deficit financing; Fiscal policy; Monetary policy (search for similar items in EconPapers)
Date: 1990
References: Add references at CitEc
Citations:

Downloads: (external link)
https://fraser.stlouisfed.org/title/475/item/596514?start_page=8 Full Text (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:feddar:y:1990:p:6-18

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Annual Report from Federal Reserve Bank of Dallas Contact information at EDIRC.
Bibliographic data for series maintained by Amy Chapman ().