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Competition and Monopoly in the Federal Reserve System, 1914–1951: A Microeconomic Approach to Monetary History (Studies in Macroeconomic History) (Volume 0) - Softcover

Book 8 of 49: Studies in Macroeconomic History

Toma, Mark

 
9780521022033: Competition and Monopoly in the Federal Reserve System, 1914–1951: A Microeconomic Approach to Monetary History (Studies in Macroeconomic History) (Volume 0)
Softcover
ISBN 10: 0521022037 ISBN 13: 9780521022033
Publisher: Cambridge University Press, 2005

Synopsis

Many economists view competition among central banks as leading to an over-issue of money. This book challenges the conventional wisdom by showing that competition among Federal Reserve banks in the 1920s did not result in an over-issue problem. The US Congress imposed a more monopolistic structure on the Fed in the mid-1930s so that it could accomodate an increase in the revenue needs of the Treasury. This book is unique in emphasizing the evolution of the Fed's structure from a highly competitive one to a highly monopolistic one.

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Review

"...Toma has written a thought-provoking book that contributes to our understanding of Fedaral Reserve policy..." David C. Wheelock, Jrnl of Eco. Hist.

"About this title" may belong to another edition of this title.

Publisher
Cambridge University Press
Publication date
2005
Language
English
ISBN 10 
0521022037
ISBN 13 
9780521022033
Binding
Paperback
Number of pages
148