Modeling Discretion and Self-Regulation

Mark Toma

Chapter Chapter 4 in Monetary Policy and the Onset of the Great Depression, 2013, pp 41-64 from Palgrave Macmillan

Abstract: Abstract The last chapter catalogued the evolution of the Fed as discretionary policy activist, interpreted from the Monetarist and Austrian perspectives. Both camps emphasized the Fed’s tendency to expand Fed credit, appropriately so, according to the Monetarists; excessively so, according to the Austrians.

Keywords: Interest Rate; Government Security; Monetary Base; Reserve Bank; Open Market Operation (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-37162-1_4

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DOI: 10.1057/9781137371621_4

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