Get Deliberating American Monetary Policy: A Textual Analysis PDF

By Cheryl Schonhardt-Bailey

ISBN-10: 0262019574

ISBN-13: 9780262019576

American financial coverage is formulated by means of the Federal Reserve and overseen via Congress. either coverage making and oversight are deliberative methods, even if the impact of this deliberation has been tough to quantify. during this booklet, Cheryl Schonhardt-Bailey offers a scientific exam of deliberation on financial coverage from 1976 to 2008 by way of the Federal Reserve's Open marketplace Committee (FOMC) and residence and Senate banking committees. Her cutting edge account employs automatic textual research software program to review the verbatim transcripts of FOMC conferences and congressional hearings; those empirical facts are supplemented and supported by way of in-depth interviews with members in those deliberations. the automatic textual research measures the attribute phrases, words, and arguments of committee participants; the interviews supply the way to gauge the level to which the empirical findings accord with the members' own reviews. studying why and below what stipulations deliberation concerns for financial coverage, the writer identifies a number of techniques of persuasion utilized by FOMC contributors, together with Paul Volcker's emphasis on coverage credibility and efforts to steer fiscal expectancies. participants of Congress, besides the fact that, limited by means of political concerns, exhibit a relative passivity at the information of financial policy.

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Download PDF by Cheryl Schonhardt-Bailey: Deliberating American Monetary Policy: A Textual Analysis

American financial coverage is formulated through the Federal Reserve and overseen through Congress. either coverage making and oversight are deliberative procedures, even if the influence of this deliberation has been tricky to quantify. during this booklet, Cheryl Schonhardt-Bailey offers a scientific exam of deliberation on financial coverage from 1976 to 2008 via the Federal Reserve's Open marketplace Committee (FOMC) and residence and Senate banking committees.

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Deliberating American Monetary Policy: A Textual Analysis (MIT Press) by Cheryl Schonhardt-Bailey


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