Summary:
Federal Reserve Chairman William McChesney Martin famously declared that the Federal Reserve “is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up.” This paper uses the punch bowl metaphor to analyze how the Federal Reserve can improve monetary policy so as to deliver [...]
Topics:
Thomas Palley considers the following as important: Economics, Political Economy, U.S. Policy
This could be interesting, too:
Federal Reserve Chairman William McChesney Martin famously declared that the Federal Reserve “is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up.” This paper uses the punch bowl metaphor to analyze how the Federal Reserve can improve monetary policy so as to deliver [...]
Federal Reserve Chairman William McChesney Martin famously declared that the Federal Reserve “is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up.” This paper uses the punch bowl metaphor to analyze how the Federal Reserve can improve monetary policy so as to deliver [...]
Topics:
Thomas Palley considers the following as important: Economics, Political Economy, U.S. Policy
This could be interesting, too:
Lars Pålsson Syll writes Angus Deaton rethinking economics
Lars Pålsson Syll writes Ideology and the politics of economic method
Lars Pålsson Syll writes ‘New Keynesian’ unemployment — a paid vacation essentially!
Lars Pålsson Syll writes Gatekeepers of the economics profession