Suchergebnisse

Between 1970 and 2007, presidents of both parties consistently and actively supported financial deregulation. Given the low visibility and relatively technical nature of the issues, presidents saw deregulation as the best way to respond to technical innovation in the industry and disruptions caused by inflation. This history suggests several lessons for students of the role of presidents in policy making. Presidents can be active in promoting policy reform even though standard methods for defining the presidential agenda do not reveal this fact. We see presidential engagement reflected in White House statements both before and after legislation is passed, and in White House use of study reports and messages to shape an elite consensus.

The Consequences of a Fedéral Structure on the Construction of the Policy of the Federal Reserve ; The Federal Reserve has a regional composition formed by twelve district banks and a central council, the council of govemors. Several institutional characteristics contribute to the independence of the Fédéral Reserve, however the four-year mandate of the president of the Reserve expires, quite by chance, at the beginning of the year of the presidential élection, something which is not without conséquence for the relations between the Reserve and those in political power. The Federal Open Market Committee, the principal decision-making body of the Reserve, is made up notably of the presidents of the district banks, often accused of carrying out a strict form of monetary policy. An analysis of the reports of meetings over a limited period allows for a clarification of this judgement.

In late August 1994, Alan Blinder was concluding his second month of service as vice-chairman of the Federal Reserve Board. A former member of the CEA and a distinguished economist, Blinder had achieved a reputation as a"hard-headed liberal economist."

Focuses on failures of policies to control wages, prices, and credit during the Nixon, Ford, and Carter administrations.