Competition and Monopoly in the Federal Reserve System, 1914-1951 - A Microeconomic Approach to Monetary History

Klappentext This book emphasizes the evolution of the Federal Reserve from a competitive to a monopolistic structure. Zusammenfassung In this book Mark Toma explores the workings of the early Federal Reserve System as a basis for challenging the conventional wisdom that competition among central banks in a monetary union results in an over issue problem. The book emphasizes the evolution of the Federal Reserve from a competitive to a monopolistic structure. Inhaltsverzeichnis List of figures; List of tables; Preface; 1. Introduction; 2. Microeconomics of the reserve industry; 3. Peculiar economics of the founding of the Fed; 4. Interest on reserves and reserve smoothing in a correspondent banking system; 5. Competitive open market operations; 6. High tide of the Federal Reserve System?; 7. The Fed, executive branch, and public finance, 1934-9; 8. World War II financing; 9. Historical lessons; Notes; References; Index.

Product details

• Authors: Mark Toma, Mark (University of Kentucky) Toma
• Assisted by: Michael D. Bordo (Editor), Forrest Capie (Editor)
• Publisher: Cambridge University Press ELT
• Languages: English
• Product format: Paperback / Softback
• Released: 03.11.2005
• EAN: 9780521022033
• ISBN: 978-0-521-02203-3
• No. of pages: 148
• Series: Studies in Macroeconomic Histo
• Subjects: Guides > Law, job, finance; Humanities, art, music > History; Social sciences, law, business > Business > Individual industrial sectors, branches