In October 2008, as the U.S. economy plunged, the Federal Reserve began paying interest on banks' reserve balances. The resulting switch to a "floor system" of monetary control, in which changes in the interest rate on reserves, rather than reserve creation or destruction, became the Fed's chief tool for influencing economic activity, was to have far-reaching consequences--almost all of them regrettable.
Besides intensifying the downturn by causing banks to hoard reserves, the floor system all but destroyed the market for unsecured interbank loans that had been banks' ordinary "first resort" source of last-minute liquidity. By depriving the Fed's asset purchases of the ability to stimulate investment and spending, it also compelled the Fed to compensate by purchasing assets on an unprecedented scale. All of this resulted in a substantial increase in the Fed's role in allocating scarce credit. Finally, by severing the ordinary connection between the stance of monetary policy and the extent of the Fed's asset holdings, the floor system risks turning the Fed's balance sheet into a fiscal-policy playground.
Floored offers a matchless account of our post-crisis monetary system's history and shortcomings.
Автор: Mileti, Dennis , Fitzpatrick, Colleen Название: The Great Earthquake Experiment ISBN: 0367292645 ISBN-13(EAN): 9780367292645 Издательство: Taylor&Francis Рейтинг: Цена: 13779.00 р. Наличие на складе: Поставка под заказ.
Описание: This book portrays the history, causes and future of large earthquakes in the US and traces the evolution of government policy to deal with it. It reviews the range of human actions that can be taken to manage or lessen quake losses and presents a review of the current technology to predict quakes.
To hone in on the complexities of prison downsizing and decarceration it is important to examine the different facets that play a part in these processes. To do so, this volume of The ANNALS brings together an inter-disciplinary group of scholars who research prisons, mass incarceration, and related policies to examine the origins of the prison overcrowding crisis, the diffusion and translation of law and policy reform, the impact of prison downsizing on the criminal justice system, and the future of decarceration.
Название: Showcasing the Great Experiment ISBN: 0199376425 ISBN-13(EAN): 9780199376421 Издательство: Oxford Academ Рейтинг: Цена: 6018.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Showcasing the Great Experiment provides the most far-reaching account of Soviet methods of cultural diplomacy innovated to influence Western intellectuals and foreign visitors. Probing the declassified records of agencies charged with crafting the international image of communism.
Автор: Birkeland Peter M. Название: Legal Cannabis: The Great Social Experiment ISBN: 1732375607 ISBN-13(EAN): 9781732375604 Издательство: Неизвестно Рейтинг: Цена: 5462.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Prodded by economists in the 1970s, corporate directors began adding stock options and bonuses to the already-generous salaries of CEOs with hopes of boosting their companies` fortunes. Guided by largely unproven assumptions, this trend continues today. This book explores the consequences of this development.
Автор: Smith Michael A., Grover Robert J., Catlett Rob Название: Low Taxes and Small Government: Sam Brownback`s Great Experiment in Kansas ISBN: 1793604827 ISBN-13(EAN): 9781793604828 Издательство: Rowman & Littlefield Publishers Рейтинг: Цена: 17952.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: As governor of Kansas Sam Brownback led a "great experiment" that implemented a low tax/small government philosophy. This book explores that effort and provides interesting background, details, and analysis of the impact on the state`s economy, public services, and government.
Описание: In this book, Joseph G. Morgan examines the career of Wesley Fishel, a political scientist who vigorously supported American intervention in the Vietnam War, what he deemed a "a great, and tragic, American experiment."
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