skip to content
Darryl Francis and the Making of Monetary Policy, 1966-1975 Preview this item
ClosePreview this item
Checking...

Darryl Francis and the Making of Monetary Policy, 1966-1975

Author: R W Hafer; David C Wheelock; Inter-university Consortium for Political and Social Research.
Publisher: Ann Arbor, Mich. : Inter-university Consortium for Political and Social Research [distributor], 2003.
Series: ICPSR (Series), 1283.
Edition/Format:   Computer file : EnglishView all editions and formats
Database:WorldCat
Summary:
Darryl Francis was president of the Federal Reserve Bank of St. Louis from 1966 to 1975. Throughout those years he was a leading critic of United States monetary policy. Francis argued in policy meetings and public venues that monetary policy should focus on maintaining a stable price level. In contrast, most policymakers at the time believed it possible to exploit a trade-off between unemployment and inflation.  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

 

Find a copy online

Links to this item

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: R W Hafer; David C Wheelock; Inter-university Consortium for Political and Social Research.
OCLC Number: 61146188
Notes: Title from ICPSR DDI metadata of 2004-10-30.
Details: Mode of access: Intranet.
Series Title: ICPSR (Series), 1283.
Responsibility: R.W. Hafer, David C. Wheelock

Abstract:

Darryl Francis was president of the Federal Reserve Bank of St. Louis from 1966 to 1975. Throughout those years he was a leading critic of United States monetary policy. Francis argued in policy meetings and public venues that monetary policy should focus on maintaining a stable price level. In contrast, most policymakers at the time believed it possible to exploit a trade-off between unemployment and inflation. Francis attributed inflation directly to excessive growth of the money stock while other policymakers blamed labor and product market failures, fiscal policy, and commodity price shocks. Francis argued that inflation could not be controlled except by limiting the growth of monetary aggregates whereas other policymakers promoted price controls or other schemes. Francis favored maintaining a stable money stock growth rate at a time when monetary policy was widely interpreted as involving the manipulation of interest rates. Reviewing the debates between Francis and his Federal Reserve colleagues improves our understanding of the reasons behind the Fed's monetary policy actions at the time and illuminates how policy views evolved toward accepting price level stability as the paramount, long-term objective for monetary policy.... Cf.: http://dx.doi.org/10.3886/ICPSR01283

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/61146188> # Darryl Francis and the Making of Monetary Policy, 1966-1975
    a bgn:ComputerFile, schema:CreativeWork ;
   library:oclcnum "61146188" ;
   library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/850911#Place/ann_arbor_mich> ; # Ann Arbor, Mich.
   library:placeOfPublication <http://id.loc.gov/vocabulary/countries/miu> ;
   schema:about <http://experiment.worldcat.org/entity/work/data/850911#Topic/fiscal_policy> ; # Fiscal policy
   schema:about <http://experiment.worldcat.org/entity/work/data/850911#Topic/price_controls> ; # Price controls
   schema:about <http://experiment.worldcat.org/entity/work/data/850911#Topic/monetary_reserves> ; # Monetary reserves
   schema:about <http://experiment.worldcat.org/entity/work/data/850911#Topic/price_indexes> ; # Price indexes
   schema:about <http://experiment.worldcat.org/entity/work/data/850911#Topic/monetary_policy> ; # Monetary policy
   schema:about <http://experiment.worldcat.org/entity/work/data/850911#Topic/inflation> ; # Inflation
   schema:about <http://experiment.worldcat.org/entity/work/data/850911#Topic/unemployment> ; # Unemployment
   schema:about <http://experiment.worldcat.org/entity/work/data/850911#Topic/commodities> ; # Commodities
   schema:about <http://experiment.worldcat.org/entity/work/data/850911#Thing/xviii_publication_related_archive> ; # XVIII. PUBLICATION-RELATED ARCHIVE
   schema:contributor <http://viaf.org/viaf/4992690> ; # David C. Wheelock
   schema:contributor <http://experiment.worldcat.org/entity/work/data/850911#Person/hafer_r_w> ; # RW Hafer
   schema:contributor <http://viaf.org/viaf/140182702> ; # Inter-university Consortium for Political and Social Research.
   schema:datePublished "2003" ;
   schema:description "Darryl Francis was president of the Federal Reserve Bank of St. Louis from 1966 to 1975. Throughout those years he was a leading critic of United States monetary policy. Francis argued in policy meetings and public venues that monetary policy should focus on maintaining a stable price level. In contrast, most policymakers at the time believed it possible to exploit a trade-off between unemployment and inflation. Francis attributed inflation directly to excessive growth of the money stock while other policymakers blamed labor and product market failures, fiscal policy, and commodity price shocks. Francis argued that inflation could not be controlled except by limiting the growth of monetary aggregates whereas other policymakers promoted price controls or other schemes. Francis favored maintaining a stable money stock growth rate at a time when monetary policy was widely interpreted as involving the manipulation of interest rates. Reviewing the debates between Francis and his Federal Reserve colleagues improves our understanding of the reasons behind the Fed's monetary policy actions at the time and illuminates how policy views evolved toward accepting price level stability as the paramount, long-term objective for monetary policy.... Cf.: http://dx.doi.org/10.3886/ICPSR01283" ;
   schema:exampleOfWork <http://worldcat.org/entity/work/id/850911> ;
   schema:inLanguage "en" ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/850911#Series/icpsr_series> ; # ICPSR (Series) ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/850911#Series/icpsr> ; # ICPSR
   schema:name "Darryl Francis and the Making of Monetary Policy, 1966-1975" ;
   schema:productID "61146188" ;
   schema:publication <http://www.worldcat.org/title/-/oclc/61146188#PublicationEvent/ann_arbor_mich_inter_university_consortium_for_political_and_social_research_distributor_2003> ;
   schema:publisher <http://experiment.worldcat.org/entity/work/data/850911#Agent/inter_university_consortium_for_political_and_social_research_distributor> ; # Inter-university Consortium for Political and Social Research [distributor]
   schema:url <http://dx.doi.org/10.3886/ICPSR01283> ;
   wdrs:describedby <http://www.worldcat.org/title/-/oclc/61146188> ;
    .


Related Entities

<http://dx.doi.org/10.3886/ICPSR01283>
   rdfs:comment "Access restricted ; authentication may be required:" ;
    .

<http://experiment.worldcat.org/entity/work/data/850911#Agent/inter_university_consortium_for_political_and_social_research_distributor> # Inter-university Consortium for Political and Social Research [distributor]
    a bgn:Agent ;
   schema:name "Inter-university Consortium for Political and Social Research [distributor]" ;
    .

<http://experiment.worldcat.org/entity/work/data/850911#Place/ann_arbor_mich> # Ann Arbor, Mich.
    a schema:Place ;
   schema:name "Ann Arbor, Mich." ;
    .

<http://experiment.worldcat.org/entity/work/data/850911#Series/icpsr> # ICPSR
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/61146188> ; # Darryl Francis and the Making of Monetary Policy, 1966-1975
   schema:name "ICPSR" ;
    .

<http://experiment.worldcat.org/entity/work/data/850911#Series/icpsr_series> # ICPSR (Series) ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/61146188> ; # Darryl Francis and the Making of Monetary Policy, 1966-1975
   schema:name "ICPSR (Series) ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/850911#Thing/xviii_publication_related_archive> # XVIII. PUBLICATION-RELATED ARCHIVE
    a schema:Thing ;
   schema:name "XVIII. PUBLICATION-RELATED ARCHIVE" ;
    .

<http://experiment.worldcat.org/entity/work/data/850911#Topic/monetary_reserves> # Monetary reserves
    a schema:Intangible ;
   schema:name "Monetary reserves" ;
    .

<http://viaf.org/viaf/140182702> # Inter-university Consortium for Political and Social Research.
    a schema:Organization ;
   schema:name "Inter-university Consortium for Political and Social Research." ;
    .

<http://viaf.org/viaf/4992690> # David C. Wheelock
    a schema:Person ;
   schema:familyName "Wheelock" ;
   schema:givenName "David C." ;
   schema:name "David C. Wheelock" ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.