The Origins, History, and Future of the Federal Reserve

This book contains essays presented at a conference held in November 2010 to mark the centenary of the famous 1910 Jekyll Island meeting of leading American financiers and the US Treasury. The 1910 meeting resulted in the Aldrich Plan, a precursor to the Federal Reserve Act that was enacted by Congress in 1913. The 2010 conference, sponsored by the Federal Reserve Bank of Atlanta and Rutgers University, featured assessments of the Fed's near 100-year track record by prominent economic historians and macroeconomists. The final chapter of the book records a panel discussion of Fed policy making by the current and former senior Federal Reserve officials.

[1]  David C. Wheelock.  Seasonal Accommodation and the Financial Crises of the Great Depression: Did the Fed "Furnish an Elastic Currency?" , 1992 .

[2]  C. Goodhart,et al.  The Evolution of Central Banks. , 1990 .

[3]  K. Tribe.  The Political Economy of British Historical Experience, 1688–1914 , 2004 .

[4]  M. Bordo,et al.  The Historical Origins of U.S. Exchange Market Intervention Policy , 2006 .

[5]  R. Goodwin.  Banking and Monetary Statistics , 1947 .

[6]  Hugh Rockoff,et al.  A comparison of the stability and efficiency of the Canadian and American banking systems, 1870–1925 , 1996, Financial History Review.

[7]  R. Grossman.  Unsettled Account: The Evolution of Banking in the Industrialized World since 1800 , 2010 .

[8]  W. Bagehot.  Lombard Street: A Description of the Money Market , 1873 .

[9]  Gary B. Gorton.  Clearinghouses and the Origin of Central Banking in the United States , 1985, The Journal of Economic History.

[10]  Richard H. Timberlake.  The Central Banking Role of Clearinghouse Associations , 1984 .

[11]  M. Bordo.  The Lender of Last Resort: Alternative Views and Historical Experience , 1990 .

[12]  I. W. Bache,et al.  or from Norges Bank, Subscription service, , 2003 .

[13]  L. Chandler.  American monetary policy, 1928-1941 , 1971 .

[14]  Michael D. Bordo,et al.  Money Versus Credit Rationing: Evidence for the National Banking Era, 1880-1914 , 1991 .

[15]  B. J. Klebaner.  Banking Reform and the Federal Reserve, 1863–1923. By Robert Craig West. Ithaca, Cornell University Press, 1977. Pp. 243. $14.50 , 1977, Business History Review.

[16]  C. Goodhart,et al.  A HISTORY OF THE FEDERAL RESERVE , 2005, Macroeconomic Dynamics.

[17]  C. Goodhart.  The New York money market and the finance of trade, 1900-1913 , 1969 .

[18]  David C. Wheelock.  Lessons learned? comparing the Federal Reserve's responses to the crises of 1929-1933 and 2007-2009 , 2010 .

[19]  M. Friedman,et al.  A Monetary History of the United States , 1963 .

[20]  O. M. W. Sprague,et al.  History of crises under the national banking system , 1968 .

[21]  Richard H. Timberlake.  Monetary Policy in the United States: An Intellectual and Institutional History , 1993 .

[22]  W. Silber.  When Washington Shut Down Wall Street: The Great Financial Crisis of 1914 and the Origins of America's Monetary Supremacy , 2007 .

[23]  E. Wicker,et al.  Federal Reserve Monetary Policy, 1917-1933. , 1971 .

[24]  Charles W. Calomiris.  U.S. Bank Deregulation in Historical Perspective: Regulation, industrial structure, and instability in U.S. banking: An historical perspective , 2000 .

[25]  The Strategy and Consistency of Federal Reserve Monetary Policy, 1924-1933 , 1991 .

[26]  Howard H. Hackley.  Lending Functions of the Federal Reserve Banks: A History , 2012 .

[27]  Warren E. Weber,et al.  New Evidence on the Free Banking Era , 1983 .

[28]  Wyatt C. Wells.  A History of the Federal Reserve. Volume 1: 1913–1951 , 2005, Business History Review.

[29]  H. M. Burns.  The Strategy and Consistency of Federal Reserve Monetary Policy, 1924–1933. By David C. Wheclock. (New York: Cambridge University Press, 1991. xiv + 126 pp. $39-95, ISBN 0-521-39155-5.) , 1993 .

[30]  Edwin Walter Kemmerer,et al.  Seasonal variations in the relative demand for money and capital in the United States , 2012 .

[31]  Gary A. Richardson,et al.  Monetary Intervention Mitigated Banking Panics during the Great Depression: Quasi‐Experimental Evidence from a Federal Reserve District Border, 1929–1933 , 2009, Journal of Political Economy.

[32]  J. Broz.  The international origins of the Federal Reserve System , 1997 .

[33]  Michael D. Bordo,et al.  Anglo-American financial systems : institutions and markets in the twentieth century , 1995 .

[34]  H. Rockoff.  The Free Banking Era: A Re-Examination , 1979 .

[35]  Jeffrey A. Miron,et al.  Financial Panics, the Seasonality of the Nominal Interest Rate, and theFounding of the Fed , 1986 .

[36]  Michael French,et al.  The Regulation and Reform of the American Banking System, 1900-1929. , 1983 .

[37]  H. Sinn,et al.  Lessons from the Great Depression , 2010 .

[38]  Money and Capital Markets in Postbellum America , 1979 .

[39]  Charles W. Calomiris.  The Costs of Rejecting Universal Banking: American Finance in the German Mirror, 1870-1914 , 1995 .

[40]  David C. Wheelock.  Member Bank Borrowing and the Fed's Contractionary Monetary Policy during the Great Depression , 1990 .

[41]  Michael D. Bordo,et al.  Why Didn't Canada Have a Banking Crisis in 2008 (or in 1930, or 1907, or …)? , 2011 .

[42]  S. Milsom,et al.  The History of Negotiable Instruments in English Law. , 1958 .

[43]  John B. Taylor,et al.  A Black Swan in the Money Market , 2008 .

[44]  Golden Fetters: The Gold Standard and the Great Depression, 1919-1939 , 1992 .

[45]  R. Parker.  The economics of the great depression , 2008 .

[46]  J. Kolari,et al.  Nonmonetary effects of the financial crisis in the Great Depression , 1999 .

[47]  Gary B. Gorton.  Reputation Formation in Early Bank Note Markets , 1993, Journal of Political Economy.

[48]  Pa Allegheny.  History of Crises Under the National Banking System , 2007 .

[49]  Marvin Goodfriend,et al.  Central banking in the credit turmoil: An assessment of Federal Reserve practice , 2011 .

[50]  Rendigs Fels,et al.  A Monetary History of the United States, 1867-1960. , 1964 .

[51]  E. Wicker.  The Great Debate on Banking Reform: Nelson Aldrich and the Origins of the Fed , 2005 .

[52]  Brian F. Madigan.  Bagehot's dictum in practice: formulating and implementing policies to combat the financial crisis , 2009 .