Summary Of A Century Of US Central Banking
The great moderation:
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The book “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke has very many topics in it. These topics are very relevant however. One of the topics in this book are the great depression, the great experiment, the great inflation and disinflation, the great moderation, the financial crisis, the great recession and today. These topics are very important in the long run (Ritchie, 2003). They develop the book from the beginning up to the end. In his topics, each one of them talks and discusses of a certain topic. This is very important in the long run. In this case, we find that the “A Century of US Central Banking: Goals, …show more content…
Frameworks, Accountability” by Ben Bernanke is a very useful book. It addresses the main issues that happen during that period. This can be shown by the period of the great depression period. Many of the readers of the book have acknowledged it due to the great work that the author did. This is very commendable in the long run.
In this case, we are going to choose one of the many topics that is present in the book “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke. His topics are well developed and very deep if well read and understood. The topic of discussion will be the great moderation. The period was experienced in the years of 1980. The term the moderation was developed by two great people who were James Stock and Mark Watson. This was in their 2002 paper. The period was named the, moderation period since most of the things in the nations started declining steadily. This was a very negative and fearsome period. It hence needed to be handled in a very careful manner. The business cycles were very much affected and hence they had almost changed completely (Ritchie, 2003). This is very much important to note that the name was suggested and hence accepted in the long run.
This was marked by a very great and important period in the history that will never be forgotten. The period was believed to be in the year one thousand, nine hundred and eighty seven to the year too thousand and seven this period was marked by the reduced inflation rates in the long run. It was aloe marked y the predictable policies (Ritchie, 2003). Before this period, the policies were not predictable in the long run. The period was also characterized by the modern business cycles that were available as per that time. Coming in to the period, there was a great reduction in the business things such as the activities and the cycles. This was a very hard time however. These started happening in the middle years of 1980s. His marked the beginning of the great struggles that were experienced (Wagenknecht, 2002).
The great moderation period is clearly addressed and discussed in the “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke.
This book as we had discussed above is very important since it addresses everything very well. It shows of this period very clearly. The great moderation period is believed to have been caused by very many things. This is mostly the developed countries that caused this problem (Ritchie, 2003). They caused it indirectly though. This includes the structural changes that happen in the countries. This contributed so much to these changes in the; long run. The changes affected the developing countries so much in the long run. The great moderation period was also caused by the institutional changes that happened during the time. All these changes on the long run brought about this period that was also marked by the volatility in the various business cycles that were present during that …show more content…
time.
So many activities also happened during this time. Unfortunately, these changes were very negative in the long run. They led to the depression of very many activities in the region. This was very negative in the long run. For example, the very many economic variables were affected. These variables were, and are still the ones that are used in measuring the various economic statuses of the countries. These include the gross development products of the country. Others include the industrial; production in the various countries that were very much affected in the long run. This is very negative however. The other economic variable that was very much affecte3d was the monthly payments. There were very many issues that affected the period since there were very many conflicts between the employees and the employers (Watson, 2005). This was manly that the employers asked for pay raise which was not available in the long or the short run. This however marked a very stressing period. The rate of unemployment in this region also was very high in the long run. This affected the economic status of the period so much. This was because very many people were not employed in the long run. In this book, “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke, he tries to explain what was to be done to prevent that from happening again. This was very important (Freimuth, 2010). It described the steps that were to be taken to curb the situation at hand. This was very important in the long run.
The period was caused by very many things in the long run. We will first highlight them and then discuss the very well. The next discussion will be on the things that were going to be done so as to ensure that this period was well addressed in the long run. These situations that led to the period of the great moderation were, one, the central bank independence. The next one was the government economic stability policies that were in place during and before this period (Watson, 2005). The next reason was the stabilizing or the stabilized and the good economic structures that were present. This affected the economy very much leading to the moderation period (Frost, 2003). The other great reason that affected this period and lead to this period was the good luck.
The reasons that lead to this situation are hence discussed here below. This is very important so as to know the great reasons that led to this situation. The central bank independence was a big reason that led to the great moderation period. The central bank from the year 1951 had started giving way to the modern and the new monetary period. This was marked by their independence. It was also a very important point to note that the Federal Reserve was also very much freed from the various fiscal influence constraints (Watson, 2005). This is very important in the long run. The fiscal and the monetary policies are very important in a nation. These leads in determining how the economy of the country or nation is progressing. In this case, they are very also useful in controlling the inflation rates. In the moderation period, the inflation rates were also very high. This leads to the various crises in the nation.
The other reason that led to this situation is the government economic stability policies. This can be explained better by the Taylor principle. This was meant to reduce the macroeconomic volatility in the long run. This involved the stabilization of the business cycles and also the stabilization of the crisis that were present.
In this case, the business cycles were also very mach affected. The business cycles refer to the activities that involve the production, distribution and the trading of the business outputs. They in the long run start to fluctuate (Watson, 2005). This occurs at a certain period of time. This is however very dangerous especially when the reach very great and risky levels in the economy. This involves the periods where inflation chips in. inflation is the general and the continuous roe in the prices of goods and services in an economy. This is very important in the long run. It is made very possible by the fluctuations in the market. It is hence very important to ensure that they are avoided for the better living in the nation. The period was also marked by this great inflation. This period was very stressing in the long run. The government tried their best in curbing this situation. They did this by ensuring that they enacted the economic stabilization processes in the long run (Edmüller, 2012). This situation is very dangerous in the long run. If it is not addressed early enough, it is very destructive in the long run. It is hence the duty of the government to ensure that they use the fiscal and the monetary policies to curb it.
The other cause is the improved and the stabilized economic structure. This is very advantageous in the long run. It is beneficial to a nation. In this case, there were very many changes in the economy structure that were present before the great moderation period. This is very hence important to know these reasons. There were drastic market changes especially on the labor. These changes were very disadvantageous in the long run. The corporations also had a very great role to play in this case. They had to run their activities in the best way possible. This was also very important in the long run. The corporations had to manage their inventories in the required ways. This is very important in the long run (Edmüller, 2012).. There was also a very great increase in the contemporary workers and the increased working time also leading to the overtime workers in the long run. This was also marked by the increased communication and increased technological levels. This led to the great efficiency in the corporations. This was very advantageous in the long run. There was also great focus on the increased as ales that would lead to the corporation efficiency. The monetary policies were also improved very much in the long run. This helped so much.
The last is the good luck. This however has been affected as it has experienced some of the rejections especially by the United States Federal Researchers. This is because on a way it leads to the fluctuations and difficulties in the household’s investment in the long run. This was the reason why it was experiencing these rejections. There are very many things that happened during this period too. The period was affected very much showing the United State government that they were no good luck that was present in the great moderation period. There were various crashes that were experienced during this period. This include the crash of the Dot Com. This happened in the year 2000. There was also a very great crash of the Long Term Capital Management that happened in the year 1987. These were very negative in the long run. The period was very much involving in the long run.
In most cases the economists evaluated this period and they came up with certain conclusions. This were that the period of the great depression we caused by the economic and the financial crisis that was experienced in the late 2000 (Edmüller, 2012).
In this book, “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke, he really explains the moderation period. He starts by trilling us how Volcker was successful in curbing the inflation rates which were very high at that time. At this time Volcker was very successful and enjoyed a lot. This is because he was to achieve both the dual mandate. He was also to successfully achieve the objectives. In this period, there was financial stability in the long run. This made Volcker enjoy maximally as shown in “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke (MODERATION, 1863). This however was very advantageous. In this time, the financial and the Federal Reserve were very keen on the financial status of the nation. This was proven by the various monitoring that happened. The monetary reserve was very keen. In the long run, they endured that there was financial stability in the long run. This happened in the period. They were also very quick to respond in the long run. They ensured that there was always financial stability. For example, in the case of 1987, where there was the great stock market crash, the situation was handled very urgently. In this period, most of the macro economists relied on their theories very much.
In this, the central banks were being pressurized to put on much of the good characters. This good character included the better communication and the good transparency level. This is very advantageous in the long run. They also believed the taking the market structures by surprise are very advantageous (MODERATION, 2003).This they based in that it was important in that it influenced the various financial conditions. These financial conditions were very important in the long run.
There were activities that were to improve the efficiency and the effectiveness of the various monetary policies that were to be used in the economy. These were also to include the developments in the communication. This in the long run enhanced the public accountability which is very important. In this book, “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke, it argues that all the economists will forever try to argue an come up with solutions as to how and why there was the great and remarkable performance in the period o the great moderation. This is very important in the long run as it will fully describe the various reasons and the attributes from the root of the topic of the moderation. Very many people argue differently as the book “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke tells us and explains. This can be given as an example that the many people who took part in this were Dynan, Sichel, Elmendorf, Davis, Wilson, and Kahn among others (Edmüller, 2012). They did a very great work in the long run. This is very beneficial. The book also shows and explains that there was a remarkable influence bin a positive way in the monetary policies that were available. This was due to the better curbing of inflation in the long run. This is very advantageous as the inflation rates in the country were reduced. There are very many advantages that come along it reduced inflation rates. One, there is high employment rate. There is also a very good economic stability as experienced after the moderation period.
This was very advantageous in the long run.
There is also a very important point in the book, “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke. This I that the monetary policies if they are very well managed will be very advantageous to nation. In the book, “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke, he explains that if they are well managed leads to the economic stability in every nation (Ritchie, 2003). This is very advantageous in the long run. However, this alone is not sufficient. Other and more things must be done for the great success of the
economy.
Conclusively, the book “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke is very important and is very recommendable in learning the moderation period (Ritchie, 2003).
References
Edmüller, A., & Wilhelm, T. (2012). Moderation. (Moderation.) München: Haufe-Lexware GmbH & Co. KG
Freimuth, J. (2010). Moderation. Göttingen: Hogrefe.
Frost, B.-P., & Sikkenga, J. (2003). History of American political thought. Lanham, Md: Lexington Books
MODERATION, . (2003). Moderation and Teetotalism: a discussion adapted for public recital, or personal perusal. London, Bath [printed.
Ritchie, T., & Hammond, S. T. (2003). Moderation. (American Drama Full-Text Database Cambridge [England: Proquest LLC
Wagenknecht, E. (2002). Washington Irving: Moderation displayed. New York: Oxford University Press.
Watson, J. (2005). Moderation. London: Printed by and for R. Whitworth, Bookseller and stationer, at the Feathers in Abchurch-Lane
Name of student:
Name of institution:
The book “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke has very many topics in it. These topics are very relevant however. One of the topics in this book are the great depression, the great experiment, the great inflation and disinflation, the great moderation, the financial crisis, the great recession and today. These topics are very important in the long run (Ritchie, 2003). They develop the book from the beginning up to the end. In his topics, each one of them talks and discusses of a certain topic. This is very important in the long run. In this case, we find that the “A Century of US Central Banking: Goals, …show more content…
Frameworks, Accountability” by Ben Bernanke is a very useful book. It addresses the main issues that happen during that period. This can be shown by the period of the great depression period. Many of the readers of the book have acknowledged it due to the great work that the author did. This is very commendable in the long run.
In this case, we are going to choose one of the many topics that is present in the book “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke. His topics are well developed and very deep if well read and understood. The topic of discussion will be the great moderation. The period was experienced in the years of 1980. The term the moderation was developed by two great people who were James Stock and Mark Watson. This was in their 2002 paper. The period was named the, moderation period since most of the things in the nations started declining steadily. This was a very negative and fearsome period. It hence needed to be handled in a very careful manner. The business cycles were very much affected and hence they had almost changed completely (Ritchie, 2003). This is very much important to note that the name was suggested and hence accepted in the long run.
This was marked by a very great and important period in the history that will never be forgotten. The period was believed to be in the year one thousand, nine hundred and eighty seven to the year too thousand and seven this period was marked by the reduced inflation rates in the long run. It was aloe marked y the predictable policies (Ritchie, 2003). Before this period, the policies were not predictable in the long run. The period was also characterized by the modern business cycles that were available as per that time. Coming in to the period, there was a great reduction in the business things such as the activities and the cycles. This was a very hard time however. These started happening in the middle years of 1980s. His marked the beginning of the great struggles that were experienced (Wagenknecht, 2002).
The great moderation period is clearly addressed and discussed in the “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke.
This book as we had discussed above is very important since it addresses everything very well. It shows of this period very clearly. The great moderation period is believed to have been caused by very many things. This is mostly the developed countries that caused this problem (Ritchie, 2003). They caused it indirectly though. This includes the structural changes that happen in the countries. This contributed so much to these changes in the; long run. The changes affected the developing countries so much in the long run. The great moderation period was also caused by the institutional changes that happened during the time. All these changes on the long run brought about this period that was also marked by the volatility in the various business cycles that were present during that …show more content…
time.
So many activities also happened during this time. Unfortunately, these changes were very negative in the long run. They led to the depression of very many activities in the region. This was very negative in the long run. For example, the very many economic variables were affected. These variables were, and are still the ones that are used in measuring the various economic statuses of the countries. These include the gross development products of the country. Others include the industrial; production in the various countries that were very much affected in the long run. This is very negative however. The other economic variable that was very much affecte3d was the monthly payments. There were very many issues that affected the period since there were very many conflicts between the employees and the employers (Watson, 2005). This was manly that the employers asked for pay raise which was not available in the long or the short run. This however marked a very stressing period. The rate of unemployment in this region also was very high in the long run. This affected the economic status of the period so much. This was because very many people were not employed in the long run. In this book, “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke, he tries to explain what was to be done to prevent that from happening again. This was very important (Freimuth, 2010). It described the steps that were to be taken to curb the situation at hand. This was very important in the long run.
The period was caused by very many things in the long run. We will first highlight them and then discuss the very well. The next discussion will be on the things that were going to be done so as to ensure that this period was well addressed in the long run. These situations that led to the period of the great moderation were, one, the central bank independence. The next one was the government economic stability policies that were in place during and before this period (Watson, 2005). The next reason was the stabilizing or the stabilized and the good economic structures that were present. This affected the economy very much leading to the moderation period (Frost, 2003). The other great reason that affected this period and lead to this period was the good luck.
The reasons that lead to this situation are hence discussed here below. This is very important so as to know the great reasons that led to this situation. The central bank independence was a big reason that led to the great moderation period. The central bank from the year 1951 had started giving way to the modern and the new monetary period. This was marked by their independence. It was also a very important point to note that the Federal Reserve was also very much freed from the various fiscal influence constraints (Watson, 2005). This is very important in the long run. The fiscal and the monetary policies are very important in a nation. These leads in determining how the economy of the country or nation is progressing. In this case, they are very also useful in controlling the inflation rates. In the moderation period, the inflation rates were also very high. This leads to the various crises in the nation.
The other reason that led to this situation is the government economic stability policies. This can be explained better by the Taylor principle. This was meant to reduce the macroeconomic volatility in the long run. This involved the stabilization of the business cycles and also the stabilization of the crisis that were present.
In this case, the business cycles were also very mach affected. The business cycles refer to the activities that involve the production, distribution and the trading of the business outputs. They in the long run start to fluctuate (Watson, 2005). This occurs at a certain period of time. This is however very dangerous especially when the reach very great and risky levels in the economy. This involves the periods where inflation chips in. inflation is the general and the continuous roe in the prices of goods and services in an economy. This is very important in the long run. It is made very possible by the fluctuations in the market. It is hence very important to ensure that they are avoided for the better living in the nation. The period was also marked by this great inflation. This period was very stressing in the long run. The government tried their best in curbing this situation. They did this by ensuring that they enacted the economic stabilization processes in the long run (Edmüller, 2012). This situation is very dangerous in the long run. If it is not addressed early enough, it is very destructive in the long run. It is hence the duty of the government to ensure that they use the fiscal and the monetary policies to curb it.
The other cause is the improved and the stabilized economic structure. This is very advantageous in the long run. It is beneficial to a nation. In this case, there were very many changes in the economy structure that were present before the great moderation period. This is very hence important to know these reasons. There were drastic market changes especially on the labor. These changes were very disadvantageous in the long run. The corporations also had a very great role to play in this case. They had to run their activities in the best way possible. This was also very important in the long run. The corporations had to manage their inventories in the required ways. This is very important in the long run (Edmüller, 2012).. There was also a very great increase in the contemporary workers and the increased working time also leading to the overtime workers in the long run. This was also marked by the increased communication and increased technological levels. This led to the great efficiency in the corporations. This was very advantageous in the long run. There was also great focus on the increased as ales that would lead to the corporation efficiency. The monetary policies were also improved very much in the long run. This helped so much.
The last is the good luck. This however has been affected as it has experienced some of the rejections especially by the United States Federal Researchers. This is because on a way it leads to the fluctuations and difficulties in the household’s investment in the long run. This was the reason why it was experiencing these rejections. There are very many things that happened during this period too. The period was affected very much showing the United State government that they were no good luck that was present in the great moderation period. There were various crashes that were experienced during this period. This include the crash of the Dot Com. This happened in the year 2000. There was also a very great crash of the Long Term Capital Management that happened in the year 1987. These were very negative in the long run. The period was very much involving in the long run.
In most cases the economists evaluated this period and they came up with certain conclusions. This were that the period of the great depression we caused by the economic and the financial crisis that was experienced in the late 2000 (Edmüller, 2012).
In this book, “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke, he really explains the moderation period. He starts by trilling us how Volcker was successful in curbing the inflation rates which were very high at that time. At this time Volcker was very successful and enjoyed a lot. This is because he was to achieve both the dual mandate. He was also to successfully achieve the objectives. In this period, there was financial stability in the long run. This made Volcker enjoy maximally as shown in “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke (MODERATION, 1863). This however was very advantageous. In this time, the financial and the Federal Reserve were very keen on the financial status of the nation. This was proven by the various monitoring that happened. The monetary reserve was very keen. In the long run, they endured that there was financial stability in the long run. This happened in the period. They were also very quick to respond in the long run. They ensured that there was always financial stability. For example, in the case of 1987, where there was the great stock market crash, the situation was handled very urgently. In this period, most of the macro economists relied on their theories very much.
In this, the central banks were being pressurized to put on much of the good characters. This good character included the better communication and the good transparency level. This is very advantageous in the long run. They also believed the taking the market structures by surprise are very advantageous (MODERATION, 2003).This they based in that it was important in that it influenced the various financial conditions. These financial conditions were very important in the long run.
There were activities that were to improve the efficiency and the effectiveness of the various monetary policies that were to be used in the economy. These were also to include the developments in the communication. This in the long run enhanced the public accountability which is very important. In this book, “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke, it argues that all the economists will forever try to argue an come up with solutions as to how and why there was the great and remarkable performance in the period o the great moderation. This is very important in the long run as it will fully describe the various reasons and the attributes from the root of the topic of the moderation. Very many people argue differently as the book “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke tells us and explains. This can be given as an example that the many people who took part in this were Dynan, Sichel, Elmendorf, Davis, Wilson, and Kahn among others (Edmüller, 2012). They did a very great work in the long run. This is very beneficial. The book also shows and explains that there was a remarkable influence bin a positive way in the monetary policies that were available. This was due to the better curbing of inflation in the long run. This is very advantageous as the inflation rates in the country were reduced. There are very many advantages that come along it reduced inflation rates. One, there is high employment rate. There is also a very good economic stability as experienced after the moderation period.
This was very advantageous in the long run.
There is also a very important point in the book, “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke. This I that the monetary policies if they are very well managed will be very advantageous to nation. In the book, “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke, he explains that if they are well managed leads to the economic stability in every nation (Ritchie, 2003). This is very advantageous in the long run. However, this alone is not sufficient. Other and more things must be done for the great success of the
economy.
Conclusively, the book “A Century of US Central Banking: Goals, Frameworks, Accountability” by Ben Bernanke is very important and is very recommendable in learning the moderation period (Ritchie, 2003).
References
Edmüller, A., & Wilhelm, T. (2012). Moderation. (Moderation.) München: Haufe-Lexware GmbH & Co. KG
Freimuth, J. (2010). Moderation. Göttingen: Hogrefe.
Frost, B.-P., & Sikkenga, J. (2003). History of American political thought. Lanham, Md: Lexington Books
MODERATION, . (2003). Moderation and Teetotalism: a discussion adapted for public recital, or personal perusal. London, Bath [printed.
Ritchie, T., & Hammond, S. T. (2003). Moderation. (American Drama Full-Text Database Cambridge [England: Proquest LLC
Wagenknecht, E. (2002). Washington Irving: Moderation displayed. New York: Oxford University Press.
Watson, J. (2005). Moderation. London: Printed by and for R. Whitworth, Bookseller and stationer, at the Feathers in Abchurch-Lane