Monetary Policy and the Great Inflation in the United States: The Federal Reserve and the Failure of Macroeconomic Policy, 1965-79

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Edward Elgar Pub., 1999 - Business & Economics - 151 pages
'Monetary Policy and the Great Inflation in the United States is a very enlightening description of how monetary policy led to the Great Inflation. Professor Mayer displays his typically thorough analytical skills and clear writing style while describing a wealth of source level evidence regarding the thought process of monetary policymakers.' - Stephen J. Perez, EH.NET 'His [Thomas Mayer's] research shows both how easily monetary policy can be led astray by dubious economic theories, and how difficult it is to change direction once a policy has been established . . . This book contains much information and insight about Federal Reserve policy making . . . I recommend it to readers interested in the macroeconomic history of the 1970s or the history of Federal Reserve policy making in general.' - David C. Wheelock, Journal of Economic History This unique book deals with the most serious macroeconomic failure experienced in the US in the post-war period and the great inflation of the late 1960s and 1970s. It is the first detailed analysis, using Federal Reserve documents, of the thinking behind the inflationary monetary policy during this period.

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Contents

List of figures
1
Forecasts of macroeconomic variables
18
List of tables
21
Copyright

9 other sections not shown

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About the author (1999)

Thomas Mayer is a consultant and educational director for the Institute for Health Care Advancement. Previously he was a principal with the benefits consulting firm William Mercer. Together with his wife Gloria Gilbert Mayer they wrote The Health Insurance Alternative, a guide to HMOs.

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