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HBSP (USA)
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How the World Works: A Brief Course in Macroeconomics--And Where the Fed Fits In
Harris, Ethan S.Book Chapter HBS-7621BC-EFinanceEven to investment professionals, macroeconomics can seem like a bewildering array of competing models. But, in the economic and policy debate at the Fed, a relatively simple framework tends to dominate discussion. In this chapter, leading economist, Ethan Harris, lays out how the Fed fits into the broader economic and financial market environment. This chapter is excerpted from "Ben Bernanke's Fed: The Federal Reserve After Greenspan."Starting at €8.20
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Constrained Discretion: Bernanke's Quest for an Inflation Target
Harris, Ethan S.Book Chapter HBS-7627BC-EFinanceOne of the hot topics in monetary economics is whether policy makers should be constrained by rules or use discretion. Advocates of discretion argue that the Fed should react to developments in the economy using its best judgment at the time. By contrast, rules advocates argue that policy makers are not very adept at managing the economy, that they are influenced by politicians, and that they may pursue policies that boost economic performance in...Starting at €8.20
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It's All About the Benjamin: An Early Look at the New Fed Chairman
Harris, Ethan S.Book Chapter HBS-7570BC-EFinanceThe chair of the Federal Reserve is often described as the second most powerful job in America. By pushing interest rates up and down, the Fed can send ripples throughout global capital markets. Just by hinting at fed action, the chair can make or break a day in the international financial markets. Yet the new Fed chair, Ben Bernanke, remains something of a mystery to investors and the press. This chapter takes a brief look at who Alan Greenspan'...Starting at €8.20
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Secrets of the Temple: Demystifying the Fed
Harris, Ethan S.Book Chapter HBS-7622BC-EFinanceAlthough the Fed was historically an institution cloaked in secrecy, today, there are no secrets when it comes to day-to-day operations. This chapter looks at how the Fed manages the economy, exploring the complicated decision structure, how changes in the interest rates the Fed controls work their way into the economy, how uncertainty affects policy choices, and how the Fed deals with supply shocks. This chapter is excerpted from "Ben Bernanke'...Starting at €8.20
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Declaration of Independence: The Political Economy of Central Banking
Harris, Ethan S.Book Chapter HBS-7623BC-EFinanceWhy do so many economists favor an independent central bank? What are the evolving political pressures on the Fed? What are the prospects and pressures for Bernanke, its new chairman? This chapter answers these questions as it looks at the political economy of central banking. This chapter is excerpted from "Ben Bernanke's Fed: The Federal Reserve After Greenspan."Starting at €8.20
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Greenspan, an Enviable Record: Greenspan's Successes as Fed Chairman
Harris, Ethan S.Book Chapter HBS-7625BC-EFinanceIn the latter half of his Fed chairmanship, Greenspan was considered the rock star of the economic and financial world. This chapter looks at the successes that propelled him to iconic status. This chapter is excerpted from "Ben Bernanke's Fed: The Federal Reserve After Greenspan."Starting at €8.20
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Depression Obsession: How the Great Depression Informs Bernanke's Thinking
Harris, Ethan S.Book Chapter HBS-7628BC-EFinanceModern central banking is defined by two big policy mistakes of the last century: the Great Depression of the 1930s and the Great Inflation of the 1970s. Ben Bernanke's academic research has focused heavily on the Great Depression, which clearly informs his current policy outlook and his crusade against deflation. This chapter is excerpted from "Ben Bernanke's Fed: The Federal Reserve After Greenspan."Starting at €8.20
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Glasnost: Democracy Comes to the Fed--The Fed Under Ben Bernanke
Harris, Ethan S.Book Chapter HBS-7629BC-EFinanceIn this chapter, leading economist, Ethan Harris, explores how the internal workings of the Fed have changed under its new chairman, Ben Bernanke. He looks at how the passing of the mantle from a data junkie to a former academic has changed the economic and policy discussion within the Fed, and at the implications of having a less dominant chairman. This chapter is excerpted from "Ben Bernanke's Fed: The Federal Reserve After Greenspan."Starting at €8.20
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Zen and the Art of Monetary Maintenance: The Fed's New Communication Style
Harris, Ethan S.Book Chapter HBS-7630BC-EFinanceBen Bernanke, the latest Fed chair, belongs to a generation of economists who believe in a fully transparent central bank, which means clearly conveying to the public its forecasts for the economy, its policy goals, and the rationale behind its policy choices. However, Bernanke is also likely to keep a much lower profile than his predecessor, Alan Greenspan, who became an economic guru. This chapter examines how Bernanke is changing the way the F...Starting at €8.20
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See No Evil, Hear No Evil, Speak No Evil: The Policy Response to an Asset Market Bubble--The Fed Under Ben Bernanke
Harris, Ethan S.Book Chapter HBS-7631BC-EFinanceOne of the most controversial questions in central banking is how policy makers should factor asset markets into their decision making. The toughest policy challenge comes in the extreme environment of a suspected asset price bubble or bust. Should a central bank step in to try to stop an unsustainable surge in asset prices? And, should the bubble burst, how long should a central bank wait before cutting interest rates? This chapter examines Ben ...Starting at €8.20