Calendar

Events Calendar

Money, History, & Finance Workshop, Mark Carlson, Federal Reserve Board

Money, History and Finance

Monday, October 16, 2017, 02:30pm - 04:00pm

Mark Carlson, Federal Reserve Board
"“Unconventional” Monetary Policy as Conventional Monetary Policy: A perspective from the U.S. in the 1920s”

Abstract: To implement monetary policy in the 1920s, the Federal Reserve utilized administered interest rates and conducted open market operations in both government securities and private money market securities, sometimes in fairly considerable amounts. We show how the Fed was able to effectively use these tools to influence conditions in money markets, even those in which it was not an active participant. We also provide evidence that the changes in money market conditions resulting from changes in monetary policy affected the issuance of money market securities. These results point to a channel through which monetary policy was transmitted to the rest of the economy. The tools used in the 1920s by the Federal Reserve resemble the extraordinary monetary policy tools used by central banks recently and provide further evidence on their effectiveness even in ordinary times.

Location  NJ Hall, 75 Hamilton Street, room 101

Upcoming Events

Wed Mar 04 @ 4:30PM - 05:45PM
Special Event Seminar
William Gale, Arjay and Frances Miller Chair in Federal Economic Policy, Brookings Institution
Thu Mar 05 @ 4:00PM - 05:30PM
Econometrics
Whitney Newey, MIT
Fri Mar 06 @ 2:00PM - 03:30PM
Empirical Microeconomics
Subha Mani, Fordham University
Tue Mar 10 @ 2:50PM - 04:10PM
Macroeconomic Theory
Corina Boar, New York University
Mon Mar 23 @ 2:30PM - 04:00PM
Money, History and Finance
Pete Veru, University of Washington
Tue Mar 24 @ 2:50PM - 04:10PM
Macroeconomic Theory
Pei Chung Yu, UNSW Business School
Thu Mar 26 @ 4:00PM - 05:30PM
Econometrics
Andrei Zeleneev, Princeton University
Fri Mar 27 @ 2:00PM - 03:30PM
Empirical Microeconomics
Mark McGovern, Rutgers University, School of Public Health
Thu Apr 02 @ 4:00PM - 05:30PM
Econometrics
Tim Armstrong, Yale University
Mon Apr 06 @ 2:30PM - 04:00PM
Money, History and Finance
Matthew Botsch, Bowdoin College
Wed Apr 08 @ 2:45PM - 04:15PM
Micro Theory/Experimental Seminar
R Vijay Krishna, Florida State University