Author: Allan H. Meltzer - CIAO Search Results

Author:: Allan H. Meltzer
Publication Date:: 10-2013
Content Type:: Journal Article
Journal:: The Cato Journal
Institution:: The Cato Institute
Abstract:: On September 1, 1948, Allan Sproul, president of the Federal Reserve Bank of New York, commented on Fed independence: I don't suppose that anyone would still argue that the central banking system should be independent of the Government of the country. The control which such a system exercises, over the volume and value of money is a right of Government and is exercised on behalf of Government, with powers delegated by the Government. But there is a distinction between independence from Government and independence from political influence in a narrower sense. The powers of the central banking system should not be a pawn of any group or faction or party, or even any particular administration, subject to political pressures and its own passing fiscal necessities [Letter to Robert R. Bowie, in Meltzer 2003: 738].
Topic:: Government
Political Geography:: New York

Author:: Allan H. Meltzer
Publication Date:: 06-2012
Content Type:: Journal Article
Journal:: The Cato Journal
Institution:: The Cato Institute
Abstract:: Overresponse to short-run events and neglect of longer-term consequences of its actions is one of the main errors that the Federal Reserve makes repeatedly. The current recession offers many examples of actions that some characterize as bold and innovative. I regard many of these actions as inappropriate for an allegedly independent central bank because they involve credit allocation, fill the Fed's portfolio with an unprecedented volume of long-term assets, evade or neglect the dual mandate, distort the credit markets, and initiate other actions that are not the responsibility of a central bank.
Political Geography:: America

Author:: Allan H. Meltzer
Publication Date:: 06-2010
Content Type:: Journal Article
Journal:: The Cato Journal
Institution:: The Cato Institute
Abstract:: For much of the past 15 years, my assistants and I have been read- ing minutes and papers in the National Archives, the Board of Governors, and the New York Federal Reserve Bank. I owe a debt of appreciation to the Board's librarians, to the achivists at the New York bank, to my several assistants, and to many at the Fed who cooperated helpfully to make this project come to completion. The result has now been published in two volumes of more than 2,000 pages. Volume 1 covers the 1913–1951 period and has been in print several years (Meltzer 2003). Volume 2, published in February, is in two parts: part one (Meltzer 2010a) covers the 1951–69 period, and part two (Meltzer 2010b) chronicles the 1970–86 period.
Political Geography:: New York

Author:: Allan H. Meltzer
Publication Date:: 01-2009
Content Type:: Journal Article
Journal:: The Cato Journal
Institution:: The Cato Institute
Abstract:: I am going to make several unrelated points, and then I am going to discuss how we got into this financial crisis and some needed changes to reduce the risk of future crises.
Topic:: Democratization, Economics, International Trade and Finance, Markets, Privatization, and Financial Crisis
Political Geography:: United States

Author:: Amity Shlaes, Vincent R. Reinhart, Allan H. Meltzer, and John L. Chapman
Publication Date:: 04-2008
Content Type:: Policy Brief
Institution:: American Enterprise Institute for Public Policy Research
Abstract:: How fragile is our financial system? What are the implications of the Fed's actions on Bear Stearns? Do we need new ways of thinking about the risks the system entails? In recent articles, four AEI scholars have looked closely at the evidence of what went wrong and what is ahead.
Topic:: Economics and Government
Political Geography:: United States

Author:: Allan H. Meltzer
Publication Date:: 11-2006
Content Type:: Policy Brief
Institution:: American Enterprise Institute for Public Policy Research
Abstract:: On November 16, eminent economist Milton Friedman passed away. Friedman made unparalleled contributions to free-market economics, demonstrating in Capitalism and Freedom the close relationship of free enterprise to political liberty. His philosophy has been extraordinarily influential regarding social and economic policies in governments around the world.
Topic:: Development, Economics, Markets, and Politics

Author:: Allan H. Meltzer
Publication Date:: 03-2005
Content Type:: Policy Brief
Institution:: American Enterprise Institute for Public Policy Research
Abstract:: Paul Wolfowitz can provide effective leadership for the World Bank by expanding monitored performance grants to poor countries and by rewarding staff members who develop programs that genuinely improve the quality of life for the poor.
Topic:: International Relations, Foreign Policy, Democratization, and Economics

Author:: Allan H. Meltzer
Publication Date:: 11-2003
Content Type:: Policy Brief
Institution:: American Enterprise Institute for Public Policy Research
Abstract:: While Alan Greenspan and most analysts continue to discuss the loss of millions of manufacturing jobs since the Bush administration took office, the Labor Department Household Survey shows such claims to be either wrong or greatly exaggerated.
Topic:: International Relations, Foreign Policy, Democratization, and Economics
Political Geography:: Russia, Europe, and Asia

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