Reflections on Allan H. Meltzer's Contributions to Monetary Economics and Public Policy
Reflections on Allan H. Meltzer's Contributions to Monetary Economics and Public Policy

Author: David Beckworth

Publisher: Hoover Press

Published: 2019-10-01

Total Pages: 173

ISBN-13: 0817923063

DOWNLOAD EBOOK

Allan H. Meltzer (1928–2017), a leading monetary economist of the twentieth century, is memorialized in eleven essays by prominent economists. Among his achievements, Meltzer transformed the field of central banking and dissected the economic disasters of the 1930s and late 2000s, as well as the avoidance of disaster in the 1970s. Focusing on his landmark A History of the Federal Reserve, 1913–1986, the first section argues that the Fed's biggest successes are tied to its adherence to classical monetary theory and also examines the monetarist counterrevolution. Next, the book turns to Meltzer's thinking on the monetary transmission mechanism and his close work with Karl Brunner on the Brunner-Meltzer Model; it argues that Meltzer's understanding of monetary economics could be used to measure the impact of the Fed's activities. Finally, Meltzer's contributions to public policy are examined, including his proposed reforms to the International Monetary Fund and his activities at the Carnegie Mellon Graduate School of Industrial Administration. The conference papers that compose this volume celebrate Meltzer's fifty-year career at Carnegie Mellon. The book ends with a transcribed interview, conducted just a few months before his death, in which he shares sharp-witted insights about economics and his legacy. Contributors: Michael Bordo, James Bullard, Joshua R. Hendrickson, Robert Hetzel, Peter N. Ireland, Robert Lucas, Edward Nelson, Gerald P. O'Driscoll Jr., Charles Plosser, George Selgin, and John Taylor.

Reforming the Governance of the IMF and the World Bank
Reforming the Governance of the IMF and the World Bank

Author: Ariel Buira

Publisher: Anthem Press

Published: 2005-11-01

Total Pages: 324

ISBN-13: 0857288180

DOWNLOAD EBOOK

The papers included in this book cover different aspects of the governance of the Bretton Woods institutions. They explore different options for reform and show that enhancing the participation of developing and emerging market countries in resolving the major monetary and financial problems confronting the world economy, would improve global economic performance and contribute to the elimination of world poverty.

The IMF and the Silent Revolution
The IMF and the Silent Revolution

Author: Mr.James M. Boughton

Publisher: International Monetary Fund

Published: 2000-09-11

Total Pages: 68

ISBN-13: 9781557759702

DOWNLOAD EBOOK

This pamphlet is adapted from Chapter 1 of Silent Revolution: The International Monetary Fund, 1979-89, by the same author. That book is full of history of the evolution of the Fund during 11 years in which the institution truly came of age as a participant in the international financial system.

International Monetary Cooperation
International Monetary Cooperation

Author: C. Fred Bergsten

Publisher: Peterson Institute for International Economics

Published: 2016-04-07

Total Pages: 456

ISBN-13: 0881327123

DOWNLOAD EBOOK

In September 1985, emissaries of the world's five leading industrial nations—the United States, Britain, France, Germany, and Japan—secretly gathered at the Plaza Hotel in New York City and unveiled an unprecedented effort to correct the largest set of current account and exchange rate imbalances that had ever threatened the world economy. The Plaza Accord is credited with sharply realigning exchange rates, significantly reducing current account imbalances, and countering protectionist pressures in the United States. But did the Accord provide a foundation for ongoing international financial stability and policy coordination? Or was it simply a unique one-time coincidence of national interests? The Plaza experience continues to inform today's debates about the limits and possibilities of international monetary cooperation. In late 2015, leading policymakers and economists—including those who were involved in the Accord's design, negotiation, and implementation—held a Plaza Retrospective conference at the Baker Institute for Public Policy to evaluate the Accord's legacy and how its collaborative spirit can be applied today. This volume presents their views and analyses to provide guidance for a time when the world again faces the prospect of currency disequilibria, growing imbalances, trade policy reactions, and thus uncertainty for both the global economy and world politics.

The International Monetary System
The International Monetary System

Author: Rakesh Mohan

Publisher: International Monetary Fund

Published: 2013-11-05

Total Pages: 49

ISBN-13: 147551414X

DOWNLOAD EBOOK

The North Atlantic financial crisis of 2008-2009 has spurred renewed interest in reforming the international monetary system, which has been malfunctioning in many aspects. Large and volatile capital flows have promoted greater volatility in financial markets, leading to recurrent financial crises. The renewed focus on the broader role of the central banks, away from narrow price stability monetary policy frameworks, is necessary to ensure domestic macroeconomic and financial stability. Since international monetary cooperation might be difficult, though desirable, central banks in major advanced economies, going forward, need to internalize the implications of their monetary policies for the rest of the global economy to reduce the incidence of financial crises.

Public Financial Management and Its Emerging Architecture
Public Financial Management and Its Emerging Architecture

Author: Mr. M. Cangiano

Publisher: International Monetary Fund

Published: 2013-04-05

Total Pages: 468

ISBN-13: 1475512198

DOWNLOAD EBOOK

The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments manage public money. This book takes stock of the most important innovations that have emerged over the past two decades, including fiscal responsibility legislation, fiscal rules, medium-term budget frameworks, fiscal councils, fiscal risk management techniques, performance budgeting, and accrual reporting and accounting. Not merely a handbook or manual describing practices in the field, the volume instead poses critical questions about innovations; the issues and challenges that have appeared along the way, including those associated with the global economic crisis; and how the ground can be prepared for the next generation of public financial management reforms. Watch Video of Book Launch

The Bretton Woods Agreements
The Bretton Woods Agreements

Author: Naomi R. Lamoreaux

Publisher: Yale University Press

Published: 2019-07-23

Total Pages: 505

ISBN-13: 0300236794

DOWNLOAD EBOOK

Commentaries by top scholars alongside the most important documents and speeches concerning the Bretton Woods Conference of 1944 The two world wars brought an end to a long-standing system of international commerce based on the gold standard. After the First World War, the weaknesses in the gold standard contributed to hyperinflation, the Great Depression, the rise of fascism, and ultimately World War II. The Bretton Woods Conference of 1944 arose out of the Allies' desire to design a postwar international economic system that would provide a basis for prosperity, trade, and worldwide economic development. Alongside important documents and speeches concerning the adoption and evolution of the Bretton Woods system, this volume includes lively, readable, original essays on such topics as why the gold standard was doomed, how Bretton Woods encouraged the adoption of Keynesian economics, how the agreements influenced late-twentieth-century ideas of international development, and why the agreements ultimately had to give way to other arrangements.