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Does Partisan Heritage Matter The Case Of The Federal Reserve
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Book Synopsis Does Partisan Heritage Matter? The Case of the Federal Reserve by : Dino Falaschetti
Download or read book Does Partisan Heritage Matter? The Case of the Federal Reserve written by Dino Falaschetti and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Received evidence suggests that changes in appointer- and overseer- preferences influence monetary policy (i.e., partisan heritage matters). Evidence presented here, on the other hand, is consistent with changes in the cost of pursuing a common preference influencing policy. I draw this evidence from a panel of Federal Open Market Committee (FOMC) votes and find support for the following conclusions: (1) Federal Reserve Board (FRB) governors who were nominated and confirmed by the same party (Republican or Democrat) prefer significantly looser policy than do other FOMC members. (2) Monetary policy is significantly looser when either party controls the oversight mechanism (i.e., the presidency and Senate) than when control is split. (3) Oversight acts less forcefully on district bank presidents than on FRB governors. In short, the present evidence suggests that political agents from both parties prefer loose money and pursue this preference more efficiently when their parties are aligned.
Book Synopsis The Oxford Handbook of the Economics of Central Banking by : David G. Mayes
Download or read book The Oxford Handbook of the Economics of Central Banking written by David G. Mayes and published by Oxford University Press. This book was released on 2019-02-15 with total page 656 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic influence of central banks has received ever more attention given their centrality during the financial crises that led to the Great Recession, strains in the European Union, and the challenges to the Euro. The Oxford Handbook of the Economics of Central Banking reflects the state of the art in the theory and practice and covers a wide range of topics that will provide insight to students, scholars, and practitioners. As an up to date reference of the current and potential challenges faced by central banks in the conduct of monetary policy and in the search for the maintenance of financial system stability, this Oxford Handbook covers a wide range of essential issues. The first section provides insights into central bank governance, the differing degrees of central bank independence, and the internal dynamics of their decision making. The next section focuses on questions of whether central banks can ameliorate fiscal burdens, various strategies to affect monetary policy, and how the global financial crisis affected the relationship between the traditional focus on inflation targeting and unconventional policy instruments such as quantitative easing (QE), foreign exchange market interventions, negative interest rates, and forward guidance. The next two sections turn to central bank communications and management of expectations and then mechanisms of policy transmission. The fifth part explores the challenges of recent developments in the economy and debates about the roles central banks should play, focusing on micro- and macro-prudential arguments. The implications of recent developments for policy modeling are covered in the last section. The breadth and depth enhances understanding of the challenges and opportunities facing central banks.
Book Synopsis Deliberating American Monetary Policy by : Cheryl Schonhardt-Bailey
Download or read book Deliberating American Monetary Policy written by Cheryl Schonhardt-Bailey and published by MIT Press. This book was released on 2013-11-01 with total page 537 pages. Available in PDF, EPUB and Kindle. Book excerpt: A systematic analysis of Federal Reserve and congressional deliberations on monetary policy, drawing on textual analysis software and in-depth interviews with participants. American monetary policy is formulated by the Federal Reserve and overseen by Congress. Both policy making and oversight are deliberative processes, although the effect of this deliberation has been difficult to quantify. In this book, Cheryl Schonhardt-Bailey provides a systematic examination of deliberation on monetary policy from 1976 to 2008 by the Federal Reserve's Open Market Committee (FOMC) and House and Senate banking committees. Her innovative account employs automated textual analysis software to study the verbatim transcripts of FOMC meetings and congressional hearings; these empirical data are supplemented and supported by in-depth interviews with participants in these deliberations. The automated textual analysis measures the characteristic words, phrases, and arguments of committee members; the interviews offer a way to gauge the extent to which the empirical findings accord with the participants' personal experiences. Analyzing why and under what conditions deliberation matters for monetary policy, the author identifies several strategies of persuasion used by FOMC members, including Paul Volcker's emphasis on policy credibility and efforts to influence economic expectations. Members of Congress, however, constrained by political considerations, show a relative passivity on the details of monetary policy.
Book Synopsis Politics from Anarchy to Democracy by : Irwin Lester Morris
Download or read book Politics from Anarchy to Democracy written by Irwin Lester Morris and published by Stanford University Press. This book was released on 2004 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the study of politics dates to ancient Greece, the basic questions that interested those earliest political scientists still linger with us today: What are the origins of government? What should government do? What conditions foster effective governance? Rational choice theory offers a new means for developing correctable answers to these questions. This volume illustrates the promise of rational choice theory and demonstrates how theory can help us develop interesting, fresh conclusions about the fundamental processes of politics. Each of the books three sections begins with a pedagogical overview that is accessible to those with little knowledge of rational choice theory. The first group of essays then discusses various ways in which rational choice contributes to our understanding of the foundations of government. The second set focuses on the contributions of rational choice theory to institutional analysis. The final group demonstrates ways in which rational choice theory helps to understand the character of popular government.
Book Synopsis Democratic Governance and Economic Performance by : Dino Falaschetti
Download or read book Democratic Governance and Economic Performance written by Dino Falaschetti and published by Springer Science & Business Media. This book was released on 2009-06-02 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional wisdom warns that unaccountable political and business agents can enrich a few at the expense of many. But logically extending this wisdom implies that associated principals – voters, consumers, shareholders – will favor themselves over the greater good when ‘rules of the game’ instead create too much accountability. Democratic Governance and Economic Performance rigorously develops this hypothesis, and finds statistical evidence and case study illustrations that democratic institutions at various governance levels (e.g., federal, state, corporation) have facilitated opportunistic gains for electoral, consumer, and shareholder principals. To be sure, this conclusion does not dismiss the potential for democratic governance to productively reduce agency costs. Rather, it suggests that policy makers, lawyers, and managers can improve governance by weighing the agency benefits of increased accountability against the distributional costs of favoring principal stakeholders over more general economic opportunities. Carefully considering the fundamentals that give rise to this tradeoff should interest students and scholars working at the intersection of social science and the law, and can help professionals improve their own performance in policy, legal, and business settings.
Book Synopsis The Politics Industry by : Katherine M. Gehl
Download or read book The Politics Industry written by Katherine M. Gehl and published by Harvard Business Press. This book was released on 2020-06-23 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading political innovation activist Katherine Gehl and world-renowned business strategist Michael Porter bring fresh perspective, deep scholarship, and a real and actionable solution, Final Five Voting, to the grand challenge of our broken political and democratic system. Final Five Voting has already been adopted in Alaska and is being advanced in states across the country. The truth is, the American political system is working exactly how it is designed to work, and it isn't designed or optimized today to work for us—for ordinary citizens. Most people believe that our political system is a public institution with high-minded principles and impartial rules derived from the Constitution. In reality, it has become a private industry dominated by a textbook duopoly—the Democrats and the Republicans—and plagued and perverted by unhealthy competition between the players. Tragically, it has therefore become incapable of delivering solutions to America's key economic and social challenges. In fact, there's virtually no connection between our political leaders solving problems and getting reelected. In The Politics Industry, business leader and path-breaking political innovator Katherine Gehl and world-renowned business strategist Michael Porter take a radical new approach. They ingeniously apply the tools of business analysis—and Porter's distinctive Five Forces framework—to show how the political system functions just as every other competitive industry does, and how the duopoly has led to the devastating outcomes we see today. Using this competition lens, Gehl and Porter identify the most powerful lever for change—a strategy comprised of a clear set of choices in two key areas: how our elections work and how we make our laws. Their bracing assessment and practical recommendations cut through the endless debate about various proposed fixes, such as term limits and campaign finance reform. The result: true political innovation. The Politics Industry is an original and completely nonpartisan guide that will open your eyes to the true dynamics and profound challenges of the American political system and provide real solutions for reshaping the system for the benefit of all. THE INSTITUTE FOR POLITICAL INNOVATION The authors will donate all royalties from the sale of this book to the Institute for Political Innovation.
Book Synopsis How Do Central Banks Talk? by : Alan S. Blinder
Download or read book How Do Central Banks Talk? written by Alan S. Blinder and published by Centre for Economic Policy Research. This book was released on 2001 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: Not long ago, secrecy was the byword in central banking circles, but now the unmistakable trend is towards greater openness and transparency. This, the third Geneva Report on the World Economy, describes and evaluates some of the changes in how central banks talk to the markets, to the press, and to the public. The report first assesses the case for transparency ? defined as providing sufficient information for the public to understand the policy regime ? and concludes that it is very strong, based on both policy effectiveness and democratic accountability. It then examines what should be the content of communication and argues that central banks ought to spell out their long-run objectives and methods. It then investigates the link between the decision-making process and central bank communication, drawing a distinction between individualistic and collegial committees. The report concludes with a review of the communications strategies of some of the main central banks.
Download or read book Current Law Index written by and published by . This book was released on 2003 with total page 1054 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Democracy written by David A. Moss and published by Harvard University Press. This book was released on 2017-02-01 with total page 784 pages. Available in PDF, EPUB and Kindle. Book excerpt: Historian David Moss adapts the case study method made famous by Harvard Business School to revitalize our conversations about governance and democracy and show how the United States has often thrived on political conflict. These 19 cases ask us to weigh choices and consequences, wrestle with momentous decisions, and come to our own conclusions.
Book Synopsis Congressional Record by : United States. Congress
Download or read book Congressional Record written by United States. Congress and published by . This book was released on 1952 with total page 1414 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Congressional Record is the official record of the proceedings and debates of the United States Congress. It is published daily when Congress is in session. The Congressional Record began publication in 1873. Debates for sessions prior to 1873 are recorded in The Debates and Proceedings in the Congress of the United States (1789-1824), the Register of Debates in Congress (1824-1837), and the Congressional Globe (1833-1873)
Book Synopsis Do Federal Social Programs Work? by : David B. Muhlhausen
Download or read book Do Federal Social Programs Work? written by David B. Muhlhausen and published by Bloomsbury Publishing USA. This book was released on 2013-04-09 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing an issue of burning interest to every taxpayer, a Heritage Foundation scholar brings objective analysis to bear as he responds to the important—and provocative—question posed by his book's title. Of course, the answer to that question will also help determine whether the American public should fear budget cuts to federal social programs. Readers, says author David B. Muhlhausen, can rest easy. As his book decisively demonstrates, scientifically rigorous national studies almost unanimously find that the federal government fails to solve social problems. To prove his point, Muhlhausen reports on large-scale evaluations of social programs for children, families, and workers, some advocated by Democrats, some by Republicans. But it isn't just the results that matter. It's the lesson to readers on how Americans can—and should—accurately assess government programs that cost hundreds of billions of dollars each year. At the book's core is an insistence that we move beyond anecdotal reasoning and often-partisan opinion to measure the effectiveness of social programs using objective analysis and scientific methods. At the very least, the results of such analysis will, like this book, provide a sound basis for much-needed public debate.
Book Synopsis Governing Heritage Dissonance by : Višnja Kisić
Download or read book Governing Heritage Dissonance written by Višnja Kisić and published by . This book was released on 2016 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research explores cultural policies and specific policy tools aimed at working with heritage dissonance and heritage related conflicts created for and implemented within the region of South East Europe (SEE) with the aim of contributing to reconciliation, mutual understanding and peace-building. The research analyses four distinctive cases which worked with heritage dissonance developed within and for the SEE region (the transnational nomination for UNESCO World Heritage List of Stećaks, medieval tombstones by the Ministries of Culture of Croatia, Serbia, Montenegro and Bosnia and Herzegovina; the regional exhibition Imagining the Balkans: Identities and Memory in the Long 19th Century involving.
Book Synopsis The Dictatorship of Woke Capital by : Stephen R. Soukup
Download or read book The Dictatorship of Woke Capital written by Stephen R. Soukup and published by Encounter Books. This book was released on 2021-02-23 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the better part of a century, the Left has been waging a slow, methodical battle for control of the institutions of Western civilization. During most of that time, “business”— and American Big Business, in particular — remained the last redoubt for those who believe in free people, free markets, and the criticality of private property. Over the past two decades, however, that has changed, and the Left has taken its long march to the last remaining non-Leftist institution. Over the course of the past two years or so, a small handful of politicians on the Right — Senators Tom Cotton, Marco Rubio, and Josh Hawley, to name three — have begun to sense that something is wrong with American business and have sought to identify the problem and offer solutions to rectify it. While the attention of high-profile politicians to the issue is welcome, to date the solutions they have proposed are inadequate, for a variety of reasons, including a failure to grasp the scope of the problem, failure to understand the mechanisms of corporate governance, and an overreliance on state-imposed, top-down solutions. This book provides a comprehensive overview of the problem and the players involved, both on the aggressive, hardcharging Left and in the nascent conservative resistance. It explains what the Left is doing and how and why the Right must be prepared and willing to fight back to save this critical aspect of American culture from becoming another, more economically powerful version of the “woke” college campus.
Book Synopsis Secrets of the Temple by : William Greider
Download or read book Secrets of the Temple written by William Greider and published by Simon and Schuster. This book was released on 1989-01-15 with total page 804 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reveals how the Federal Reserve under Paul Volcker engineered changes in America's economy.
Download or read book Our American Government written by and published by . This book was released on 2003 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Committee on House Administration is pleased to present this revised book on our United States Government. This publication continues to be a popular introductory guide for American citizens and those of other countries who seek a greater understanding of our heritage of democracy. The question-and-answer format covers a broad range of topics dealing with the legislative, executive, and judicial branches of our Government as well as the electoral process and the role of political parties.--Foreword.
Book Synopsis Dissonant Heritage by : J. E. Tunbridge
Download or read book Dissonant Heritage written by J. E. Tunbridge and published by *Belhaven Press. This book was released on 1996-04-06 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: A lucid philosophical, theoretical, and practical guide to the creation of an authentic and realistic interpretation of heritage. Demonstrates how sensitivity and ethical approaches can be developed to present the actual history of concentration camps, atrocities, disease, death, and oppression without alienating the observer. Contains planning goals and advice to produce a thoughtful and sympathetic response and lasting understanding of the fate and consequences of real peoples and historic events.
Book Synopsis The Great Deformation by : David Stockman
Download or read book The Great Deformation written by David Stockman and published by PublicAffairs. This book was released on 2014-09-02 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New York Times bestseller The Great Deformation is a searing look at Washington's craven response to the recent myriad of financial crises and fiscal cliffs. It counters conventional wisdom with an eighty-year revisionist history of how the American state—especially the Federal Reserve—has fallen prey to the politics of crony capitalism and the ideologies of fiscal stimulus, monetary central planning, and financial bailouts. These forces have left the public sector teetering on the edge of political dysfunction and fiscal collapse and have caused America's private enterprise foundation to morph into a speculative casino that swindles the masses and enriches the few. Defying right- and left-wing boxes, David Stockman provides a catalogue of corrupters and defenders of sound money, fiscal rectitude, and free markets. The former includes Franklin Roosevelt, who fathered crony capitalism; Richard Nixon, who destroyed national financial discipline and the Bretton Woods gold-backed dollar; Fed chairmen Greenspan and Bernanke, who fostered our present scourge of bubble finance and addiction to debt and speculation; George W. Bush, who repudiated fiscal rectitude and ballooned the warfare state via senseless wars; and Barack Obama, who revived failed Keynesian “borrow and spend” policies that have driven the national debt to perilous heights. By contrast, the book also traces a parade of statesmen who championed balanced budgets and financial market discipline including Carter Glass, Harry Truman, Dwight Eisenhower, Bill Simon, Paul Volcker, Bill Clinton, and Sheila Bair. Stockman's analysis skewers Keynesian spenders and GOP tax-cutters alike, showing how they converged to bloat the welfare state, perpetuate the military-industrial complex, and deplete the revenue base—even as the Fed's massive money printing allowed politicians to enjoy “deficits without tears.” But these policies have also fueled new financial bubbles and favored Wall Street with cheap money and rigged stock and bond markets, while crushing Main Street savers and punishing family budgets with soaring food and energy costs. The Great Deformation explains how we got here and why these warped, crony capitalist policies are an epochal threat to free market prosperity and American political democracy.
