Kenneth D. Garbade
After the Accord
A History of Federal Reserve Open Market Operations, the Us Government Securities Market, and Treasury Debt Management from 1951 to 1979
Kenneth D. Garbade
After the Accord
A History of Federal Reserve Open Market Operations, the Us Government Securities Market, and Treasury Debt Management from 1951 to 1979
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Following the end of World War II and the resumption of peacetime economic activity, the Federal Reserve and the US Treasury had to rebuild the machinery of monetary and debt management operations. This book explains their initial thinking and explores how they reacted to subsequent challenges.
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Following the end of World War II and the resumption of peacetime economic activity, the Federal Reserve and the US Treasury had to rebuild the machinery of monetary and debt management operations. This book explains their initial thinking and explores how they reacted to subsequent challenges.
Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
Produktdetails
- Produktdetails
- Studies in Macroeconomic History
- Verlag: Cambridge University Press
- Seitenzahl: 388
- Erscheinungstermin: 4. Februar 2021
- Englisch
- Abmessung: 229mm x 152mm x 33mm
- Gewicht: 1018g
- ISBN-13: 9781108839891
- ISBN-10: 1108839894
- Artikelnr.: 59472986
- Studies in Macroeconomic History
- Verlag: Cambridge University Press
- Seitenzahl: 388
- Erscheinungstermin: 4. Februar 2021
- Englisch
- Abmessung: 229mm x 152mm x 33mm
- Gewicht: 1018g
- ISBN-13: 9781108839891
- ISBN-10: 1108839894
- Artikelnr.: 59472986
Kenneth D. Garbade is a retired economist, formerly working at the Federal Reserve Bank of New York. He has been a Professor of Economics and Finance in the Graduate School of Business Administration at New York University, and a Managing Director at Bankers Trust Company working in the primary dealer department for US Treasury securities. He is the author of Fixed Income Analytics (1996), Birth of a Market: The US Treasury Securities Market from the Great War to the Great Depression (2012), and Treasury Debt Management under the Rubric of Regular and Predictable Issuance: 1983-2012 (2015).
Foreword. The many varieties of dealer
1. Introduction
Part I. The Sytem and the Market in the 1940s: 2. The government securities market
3. Reserves, reserve requirements, and reserves management
4. The institutional framework of open market operations
Part II. The Accord and its Aftermath: 5. The accord
6. Taking stock
7. New directions
8. Challenging the new restrictions
9. An additional limitation on the conduct of open market operations
Part III. The New Regime: 10. Monetary policy in 1954
11. Policy instruments for reserves management
12. Monetary policy in 1955
13. Pragmatism in the accommodation of Treasury offerings
14. 1956 and 1957
Part IV. Summer 1958 and its Consequences: 15. The summer 1958 Treasury financings
16. Innovations in Treasury debt management
17. The Treasury-Federal reserve stuy of the government securities market
Part V. The End of Bills Preferably: 18. The 1958-1960 gold drain
19. Operation twist
Part VI. The Sixties: 20. Treasury debt management in the 1960s
21. Monetary policy in the 1960s
22. Repurchase agreements in the 1960s
Part VII. Updating Market Infrastructures - The Joint Study: 23. The association of primary dealers
24. Dealer finance
25. The government securities clearing arrangement
26. Securities lending
27. The book-entry system, Part I
Part VIII. The Seventies: 28. Treasury debt management in the 1970s
29. Monetary policy in the 1970s
30. Open market operations in the 1970s
Part IX. Infrastructure in the Seventies: 31. The secondary market in the 1970s
32. The book-entry system, Part II
33. Coda
34. After 1979.
1. Introduction
Part I. The Sytem and the Market in the 1940s: 2. The government securities market
3. Reserves, reserve requirements, and reserves management
4. The institutional framework of open market operations
Part II. The Accord and its Aftermath: 5. The accord
6. Taking stock
7. New directions
8. Challenging the new restrictions
9. An additional limitation on the conduct of open market operations
Part III. The New Regime: 10. Monetary policy in 1954
11. Policy instruments for reserves management
12. Monetary policy in 1955
13. Pragmatism in the accommodation of Treasury offerings
14. 1956 and 1957
Part IV. Summer 1958 and its Consequences: 15. The summer 1958 Treasury financings
16. Innovations in Treasury debt management
17. The Treasury-Federal reserve stuy of the government securities market
Part V. The End of Bills Preferably: 18. The 1958-1960 gold drain
19. Operation twist
Part VI. The Sixties: 20. Treasury debt management in the 1960s
21. Monetary policy in the 1960s
22. Repurchase agreements in the 1960s
Part VII. Updating Market Infrastructures - The Joint Study: 23. The association of primary dealers
24. Dealer finance
25. The government securities clearing arrangement
26. Securities lending
27. The book-entry system, Part I
Part VIII. The Seventies: 28. Treasury debt management in the 1970s
29. Monetary policy in the 1970s
30. Open market operations in the 1970s
Part IX. Infrastructure in the Seventies: 31. The secondary market in the 1970s
32. The book-entry system, Part II
33. Coda
34. After 1979.
Foreword. The many varieties of dealer
1. Introduction
Part I. The Sytem and the Market in the 1940s: 2. The government securities market
3. Reserves, reserve requirements, and reserves management
4. The institutional framework of open market operations
Part II. The Accord and its Aftermath: 5. The accord
6. Taking stock
7. New directions
8. Challenging the new restrictions
9. An additional limitation on the conduct of open market operations
Part III. The New Regime: 10. Monetary policy in 1954
11. Policy instruments for reserves management
12. Monetary policy in 1955
13. Pragmatism in the accommodation of Treasury offerings
14. 1956 and 1957
Part IV. Summer 1958 and its Consequences: 15. The summer 1958 Treasury financings
16. Innovations in Treasury debt management
17. The Treasury-Federal reserve stuy of the government securities market
Part V. The End of Bills Preferably: 18. The 1958-1960 gold drain
19. Operation twist
Part VI. The Sixties: 20. Treasury debt management in the 1960s
21. Monetary policy in the 1960s
22. Repurchase agreements in the 1960s
Part VII. Updating Market Infrastructures - The Joint Study: 23. The association of primary dealers
24. Dealer finance
25. The government securities clearing arrangement
26. Securities lending
27. The book-entry system, Part I
Part VIII. The Seventies: 28. Treasury debt management in the 1970s
29. Monetary policy in the 1970s
30. Open market operations in the 1970s
Part IX. Infrastructure in the Seventies: 31. The secondary market in the 1970s
32. The book-entry system, Part II
33. Coda
34. After 1979.
1. Introduction
Part I. The Sytem and the Market in the 1940s: 2. The government securities market
3. Reserves, reserve requirements, and reserves management
4. The institutional framework of open market operations
Part II. The Accord and its Aftermath: 5. The accord
6. Taking stock
7. New directions
8. Challenging the new restrictions
9. An additional limitation on the conduct of open market operations
Part III. The New Regime: 10. Monetary policy in 1954
11. Policy instruments for reserves management
12. Monetary policy in 1955
13. Pragmatism in the accommodation of Treasury offerings
14. 1956 and 1957
Part IV. Summer 1958 and its Consequences: 15. The summer 1958 Treasury financings
16. Innovations in Treasury debt management
17. The Treasury-Federal reserve stuy of the government securities market
Part V. The End of Bills Preferably: 18. The 1958-1960 gold drain
19. Operation twist
Part VI. The Sixties: 20. Treasury debt management in the 1960s
21. Monetary policy in the 1960s
22. Repurchase agreements in the 1960s
Part VII. Updating Market Infrastructures - The Joint Study: 23. The association of primary dealers
24. Dealer finance
25. The government securities clearing arrangement
26. Securities lending
27. The book-entry system, Part I
Part VIII. The Seventies: 28. Treasury debt management in the 1970s
29. Monetary policy in the 1970s
30. Open market operations in the 1970s
Part IX. Infrastructure in the Seventies: 31. The secondary market in the 1970s
32. The book-entry system, Part II
33. Coda
34. After 1979.