Stephen H. Axilrod, "Inside the Fed: Monetary Policy and Its Management, Martin through Greenspan to Bernanke

  

The MIT Press (March 13, 2009) | English | 0262012499 | 213 pages | PDF | 1.10 MB

Axilrod, a longtime Federal Reserve System veteran, provides an insider's perspective on how the Fed has evolved over the past 50 years. Revealing the impact of personalities and their responses to political, social and bureaucratic situations, he explores such key topics such as money supply vs. interest rates, monetary base and reserve aggregates vs. money-market conditions, and increased emphasis on real-world variables rather than on monetary variables as indicators and guides for policy. The book is based mostly on anecdotal recollections of personal interactions with central bank leaders and others as they managed policy discussions and implementation. Despite the involvement of other influential parties, Axilrod's view is that chairmen took the lead in policy formation but had limited influence on the day-to-day operating targets. He also offers his thoughts on the future of the organization, noting that leaders will need to take a more direct account of international markets in making judgments about policy and its management. Informative and insightful, this view of the inner workings of the Fed will appeal to anyone with an interest in economics or curious about the organization's recent progression.

一本甚有趣味的历史敍述，对於Fed Watcher 和 关注宏观经济政策者非常有用。现任主席伯南克 的杰作大蕭条英文原版也Bundle 一起上传


Essays on the Great Depression: Ben S. Bernanke
Princeton University Press | ISBN: 0691016984 | 2000-04-04 | PDF (OCR) | 320 pages | 1.58 Mb

Few periods in history compare to the Great Depression. Stock market crashes, bread lines, bank runs, and wild currency speculation were worldwide phenomena--all occurring with war looming in the background. This period has provided economists with a marvelous laboratory for studying the links between economic policies and institutions and economic performance. Here, Ben Bernanke has gathered together his essays on why the Great Depression was so devastating. This broad view shows us that while the Great Depression was an unparalleled disaster, some economies pulled up faster than others, and some made an opportunity out of it. By comparing and contrasting the economic strategies and statistics of the world's nations as they struggled to survive economically, the fundamental lessons of macroeconomics stand out in bold relief against a background of immense human suffering. The essays in this volume present a uniquely coherent view of the economic causes and worldwide propagation of the depression.