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Board of Governors of the Federal Reserve System (U.S.)
FEDS Notes
The Tools and Transmission of Federal Reserve Monetary Policy in the 1920s
Mark Carlson
Burcu Duygan-Bump
Abstract

This note describes the tools used by the Federal Reserve (Fed) to implement monetary policy in the 1920s and the degree to which changes in these tools were transmitted to private money markets. In doing so, we hope to provide some historical perspective to the renewed debate around monetary policy frameworks and toolkits.


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Mark Carlson & Burcu Duygan-Bump, The Tools and Transmission of Federal Reserve Monetary Policy in the 1920s, Board of Governors of the Federal Reserve System (U.S.), FEDS Notes 2016-11-22, 22 Nov 2016.
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DOI: https://doi.org/10.17016/2380-7172.1871
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