Executive Branch Pressures on Monetary Policy: 1914–1991

1993 ◽  
pp. 29-80
Author(s):  
Thomas Havrilesky
Keyword(s):  
Monetary Policy ◽  
Executive Branch

Political Pressures on Monetary Policy During the US Great Inflation

2012 ◽  
Vol 4 (2) ◽  
pp. 33-64 ◽  
Author(s):  
Charles L Weise
Keyword(s):  
United States ◽  
Monetary Policy ◽  
Federal Reserve ◽  
The United States ◽  
Executive Branch ◽  
The Political ◽  
Political Environment ◽  
Open Market ◽  
Federal Open Market Committee ◽  
The Us

Drawing on an analysis of Federal Open Market Committee (FOMC) documents, this paper argues that political pressures on the Federal Reserve were an important contributor to the rise in inflation in the United States in the 1970s. Members of the FOMC understood that a serious attempt to tackle inflation would generate opposition from Congress and the executive branch. Political considerations contributed to delays in monetary tightening, insufficiently aggressive anti-inflation policies, and the premature abandonment of attempts at disinflation. Empirical analysis verifies that references to the political environment at FOMC meetings are correlated with the stance of monetary policy during this period. (JEL D72, E32, E52, E58, N12)

scholarly journals Central banks and the rights and freedoms of the citizen

2018 ◽  
Vol 6 (1) ◽  
Author(s):  
Henrique Schneider
Keyword(s):  
Monetary Policy ◽  
Interest Rates ◽  
Executive Branch ◽  
Central Banks ◽  
Economic Agents ◽  
Operational Level

When central banks act, their policies and instruments impact not only on the economy, but on people’s rights as well. For this reason, central banks depend on politics, since politics is the organization of the polity – in which central banks and people’s rights are all incorporated. The same applies to an operational level: the central banks are interconnected with other institutions, for instance, the Executive Branch, economic agents and the whole economy through money, interest rates, and more recently, through “unorthodox monetary policy”. This paper examines how central banks operate pursuing the enlargement of the scope of their activities, the expansion of their means, and  their reach. The aim of this article is to highlight that, by putting into practice what has been mentioned above, central banks reduce citizens’ freedom and rights. This analysis is applied to two cases, the “unorthodox monetary policy” and the ban on cash. Given these points, the possible remedies of the expansion of the activities of the central banks will be discussed.

Imperfect Knowledge and Monetary Policy

2006 ◽  
Author(s):  
Vítor Gaspar ◽  
Otmar Issing ◽  
Oreste Tristani ◽  
David Vestin
Keyword(s):  
Monetary Policy ◽  
Imperfect Knowledge

Monetary Policy

2010 ◽  
Author(s):  
Michael D. Bordo ◽  
David C. Wheelock
Keyword(s):  
Monetary Policy

Dampak Kebijakan Moneter Pada Output Di Negara-Negara ASEAN Tahun 1980-2014

2017 ◽  
Vol 4 (1) ◽  
pp. 58-70
Author(s):  
Nur Widiastuti
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Fixed Effects ◽  
Empirical Studies ◽  
Negative Relationship ◽  
Least Square ◽  
Fixed Effects Model ◽  
State Data ◽  
Ordinary Least Square ◽  
The Impact

The Impact of monetary Policy on Ouput is an ambiguous. The results of previous empirical studies indicate that the impact can be a positive or negative relationship. The purpose of this study is to investigate the impact of monetary policy on Output more detail. The variables to estimatate monetery poicy are used state and board interest rate andrate. This research is conducted by Ordinary Least Square or Instrumental Variabel, method for 5 countries ASEAN. The state data are estimated for the period of 1980 – 2014. Based on the results, it can be concluded that the impact of monetary policy on Output shown are varied.Keyword: Monetary Policy, Output, Panel Data, Fixed Effects Model

Strategy and Tactics of Monetary Policy during the World Economic Crisis

2010 ◽  
pp. 4-20 ◽  
Author(s):  
A. Nekipelov ◽  
M. Golovnin
Keyword(s):  
Monetary Policy ◽  
Economic Crisis ◽  
Exchange Rate Policy ◽  
Industrial Countries ◽  
Policy Goals ◽  
The World ◽  
Rate Policy ◽  
World Economic ◽  
World Economic Crisis ◽  
Qualitative Changes

The paper analyzes the qualitative changes in monetary policy goals and instruments during the world economic crisis of 2007-2009 in industrial countries and Russia; it represents the authors view on Russian monetary policy goals and results on different stages of crisis development. On the basis of the analysis the authors conclude on the necessity of active exchange rate policy in Russia, while developing interest rate instruments, and implementation of some exchange restrictions to prevent crisis contagion in the future.

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