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• W1569358196 abstract "Implicit in monetary models and policy prescriptions is the assumption that the Fed is independent of political and bureaucratic influence. We challenge this assumption. We consider three channels through which the independence of the Fed has been compromised over its 100-year history; debt accommodation, political influence, and the bureaucratic structure of the Fed. Future research needs to address how these separate influences have become operational, the mechanism of their operation, and their interaction. We argue that contextualized anecdotal histories are necessary to corroborate the existing empirical studies and to inform future studies." @default.
• W1569358196 created "2016-06-24" @default.
• W1569358196 creator A5019669835 @default.
• W1569358196 creator A5076333887 @default.
• W1569358196 date "2012-01-01" @default.
• W1569358196 modified "2023-09-27" @default.
• W1569358196 title "Who Influences the Fed?" @default.
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• W1569358196 doi "https://doi.org/10.2139/ssrn.2135232" @default.
• W1569358196 hasPublicationYear "2012" @default.
• W1569358196 type Work @default.
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