Abstract

https://ssrn.com/abstract=2135233
 
 

Citations (1)



 


 



An Episodic History of Modern Fed Independence


Daniel J. Smith


Troy University

Peter J. Boettke


George Mason University - Department of Economics

December 11, 2014

The Independent Review: A Journal of Political Economy 20(1): 2015: 99-120

Abstract:     
We supplement the existing empirical literature on Fed independence with a contextualized episodic history to corroborate the empirical literature and inform future studies. We examine the postwar Fed to focus on the ability of the Fed to forge a monetary path independent of political influence in modern times. We find that the Fed regularly accommodates debt, succumbs to political pressures, and follows bureaucratic tendencies, compromising the Fed’s operational independence.

Number of Pages in PDF File: 29

Keywords: Federal Reserve, central bank independence, monetary policy

JEL Classification: E50


Open PDF in Browser Download This Paper

Date posted: August 23, 2012 ; Last revised: January 26, 2017

Suggested Citation

Smith, Daniel J. and Boettke, Peter J., An Episodic History of Modern Fed Independence (December 11, 2014). The Independent Review: A Journal of Political Economy 20(1): 2015: 99-120. Available at SSRN: https://ssrn.com/abstract=2135233 or http://dx.doi.org/10.2139/ssrn.2135233

Contact Information

Daniel J. Smith (Contact Author)
Troy University ( email )
Bibb Graves Hall 137F
Troy, AL 36082
United States
334-808-6485 (Phone)
HOME PAGE: http://www.danieljosephsmith.com/
Peter J. Boettke
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
703-993-1149 (Phone)
703-993-1133 (Fax)
Feedback to SSRN


Paper statistics
Abstract Views: 1,349
Downloads: 319
Download Rank: 73,441
Citations:  1