Allan Meltzer and the History of the Federal Reserve

Michael Bordo

No 17107, Economics Working Papers from Hoover Institution, Stanford University

Abstract: Allan Meltzer was one of the leading monetary economists of the twentieth century. Allan was a key player in the debates over Monetarist and Keynesian doctrines as well as the debates over how to conduct monetary policy. He was always a strong advocate for rules-based monetary and lender of last resort policy. A salient part of his contribution was his monumental two volume History of the Federal Reserve 1913 to 1986 (2003 and 2010). In this essay, I present the main arguments of the History and provide an evaluation his contribution.

Keywords: Meltzer; Federal Reserve; monetary economics; monetary policy (search for similar items in EconPapers)
JEL-codes: N12 N22 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2017-07
New Economics Papers: this item is included in nep-his, nep-hpe and nep-mon
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