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- English
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Federal Reserve Behavior, 1923-1931
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About This Book
The Federal Reserve System has been widely criticised for its response (or lack of response) to the economic and financial problems of 1928-1933. This period was one of frantic speculation followed by the collapse of the stock market, the banking system and the economy at large. How did the Fed let this happen, and was it to blame? This book, first published in 1993, carries out an in-depth statistical analysis of the relevant data supporting the various theories surrounding the Fed's behaviour at the time, and is a key work in understanding the thinking of the period.
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Yes, you can access Federal Reserve Behavior, 1923-1931 by Marshall E. McMahon in PDF and/or ePUB format, as well as other popular books in Business & Business General. We have over one million books available in our catalogue for you to explore.
APPENDICES
APPENDIX A
Data
Table A.I contains a list of the data used in the regression analysis and spectral analysis employed in this study. The sources of the data are cited in the notes to Table A.I.
The derivation of the dependent variable for open maiket purchases and sales (ĪGS') is illustrated in Table A.II. The explanation of its derivation given in Chapter Three needs no additional elaboration. However, the derivation of the variable to which the Fed is assumed to have responded in its ādefensiveā operations (ĪRR') does need further explanation.
As stated in Chapter Three, there are no monthly data available for excess or required reserves prior to 1929. There are data available, however, for call dates. Using these data (for excess reserves and total deposits of member banks), the effective...
Table of contents
- Cover Page
- Title Page
- Copyright Page
- Contents
- List of Tables
- Preface
- Acknowledgments
- One Introduction
- Two Federal Reserve Behavior: A Verbal Analysis
- Three Federal Reserve Behavior: Quantification and Testing
- Four Summary
- Appendix
- Bibliography
- Index