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The government of money : monetarism in Germany and the United States

Author: Peter A Johnson
Publisher: Ithaca, N.Y. : Cornell University Press, ©1998.
Series: Cornell studies in political economy.
Edition/Format:   Book : EnglishView all editions and formats
Summary:
In recent years governments have increasingly given their central banks the freedom to pursue policies of price stability. In particular, the German Bundesbank and the U.S. Federal Reserve have been widely considered models of autonomous policymaking. This book traces the origins of their success to the political struggle to adopt monetarism in Germany and the United States.
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Details

Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Peter A Johnson
ISBN: 0801428351 9780801428357
OCLC Number: 39640051
Description: xiv, 240 p. ; 24 cm.
Contents: The problem of economic policy innovation in democracies --
The origins of the Bundesbank's corporate culture --
The Bundesbank's monetarist regime change, 1970-1985 --
The origins of the Federal Reserve's corporate culture --
The monetarist revolution and the Fed, 1970-1985 --
Central banks as guardians of democracy.
Series Title: Cornell studies in political economy.
Responsibility: Peter A. Johnson.
More information:

Abstract:

In recent years governments have increasingly given their central banks the freedom to pursue policies of price stability. In particular, the German Bundesbank and the U.S. Federal Reserve have been widely considered models of autonomous policymaking. This book traces the origins of their success to the political struggle to adopt monetarism in Germany and the United States.

The Government of Money contends that the political involvement of monetarist economists was central to this endeavor. The book examines the initiatives undertaken by monetarists from 1970 to 1985 and the policies that resulted once their ideas were enacted. Taking a historical approach to major issues of political economy, Peter A. Johnson describes both the political efforts of the monetarist economists to convert central banks to their preferred policies and the resistance offered by traditionalist central bankers, politicians, and financial and labor interests.

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