Working Paper: NBER ID: w11714
Authors: Allan H. Meltzer; Michael D. Bordo
Abstract: In this essay I distill the seven major themes in A History of the Federal Reserve which covers the Federal Reserve's record from 1914 to 1951. I conclude with a critique.
Keywords: No keywords provided
JEL Codes: E58
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Federal Reserve's flawed policy model (E19) | detrimental economic outcomes (F69) |
| structure of the Federal Reserve contributes to inability to implement cohesive national monetary policy (E58) | internal governance issues act as a confounding factor (G38) |
| Fed's misjudgment of economic conditions during the late 1920s (N12) | onset of the Great Depression (N22) |