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Operation Twist-the-Truth: How the Federal Reserve Misrepresents Its History and Performance

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  • George Selgin

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  • George Selgin, 2014. "Operation Twist-the-Truth: How the Federal Reserve Misrepresents Its History and Performance," Cato Journal, Cato Journal, Cato Institute, vol. 34(2), pages 229-263, Spring/Su.
    • Handle: RePEc:cto:journl:v:34:y:2014:i:2:p:229-263
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    References listed on IDEAS

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    4. R. Glenn Hubbard, 1991. "Financial Markets and Financial Crises," NBER Books, National Bureau of Economic Research, Inc, number glen91-1.
    5. Charles W. Calomiris & Stephen H. Haber, 2015. "Fragile by Design: The Political Origins of Banking Crises and Scarce Credit," Economics Books, Princeton University Press, edition 1, number 10177-2.
    6. Wicker,Elmus, 1996. "The Banking Panics of the Great Depression," Cambridge Books, Cambridge University Press, number 9780521562614, October.
    7. Hett, Florian & Schmidt, Alexander, 2017. "Bank rescues and bailout expectations: The erosion of market discipline during the financial crisis," Journal of Financial Economics, Elsevier, vol. 126(3), pages 635-651.
    8. Stephen D. Williamson, 1989. "Bank failures, financial restrictions, and aggregate fluctuations: Canada and the United States, 1870-1913," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 13(Sum), pages 20-40.
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    10. Ng, Kenneth, 1988. "Free Banking Laws and Barriers to Entry in Banking, 1838–1860," The Journal of Economic History, Cambridge University Press, vol. 48(4), pages 877-889, December.
    11. Thomas F. Cargill & Gerald P. O'Driscoll Jr., 2013. "Federal Reserve Independence: Reality or Myth?," Cato Journal, Cato Journal, Cato Institute, vol. 33(3), pages 417-435, Fall.
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    13. Michael Bordo & Andrew Filardo, 2005. "Deflation in a historical perspective," BIS Working Papers 186, Bank for International Settlements.
    14. William R. Cline & Joseph E. Gagnon, 2013. "Lehman Died, Bagehot Lives: Why Did the Fed and Treasury Let a Major Wall Street Bank Fail?," Policy Briefs PB13-21, Peterson Institute for International Economics.
    15. Florian Hett & Alexander Schmidt, 2013. "Bank Bailouts and Market Discipline: How Bailout Expectations Changed During the Financial Crisis," Working Papers 1305, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz, revised 01 Aug 2013.
    16. Thomas M. Humphrey, 2010. "Lender of Last Resort: What It Is, Whence It Came, and Why the Fed Isn't It," Cato Journal, Cato Journal, Cato Institute, vol. 30(2), pages 333-364, Spring.
    17. Rolnick, Arthur J & Weber, Warren E, 1983. "New Evidence on the Free Banking Era," American Economic Review, American Economic Association, vol. 73(5), pages 1080-1091, December.
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    19. Selgin, George & Lastrapes, William D. & White, Lawrence H., 2012. "Has the Fed been a failure?," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 569-596.
    20. Axel Leijonhufvud, 2009. "Out of the corridor: Keynes and the crisis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 33(4), pages 741-757, July.
    21. Thomas L. Hogan & Linh Le & Alexander William Salter, 2015. "Ben Bernanke and Bagehot's Rules," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(2-3), pages 333-348, March.
    22. Christina D. Romer, 1999. "Changes in Business Cycles: Evidence and Explanations," Journal of Economic Perspectives, American Economic Association, vol. 13(2), pages 23-44, Spring.
    23. Selgin, George & Beckworth, David & Bahadir, Berrak, 2015. "The productivity gap: Monetary policy, the subprime boom, and the post-2001 productivity surge," Journal of Policy Modeling, Elsevier, vol. 37(2), pages 189-207.
    24. Weintraub, Robert E., 1978. "Congressional supervision of monetary policy," Journal of Monetary Economics, Elsevier, vol. 4(2), pages 341-362, April.
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    27. Mr. Peter Stella, 2009. "The Federal Reserve System Balance Sheet: What Happened and Why it Matters," IMF Working Papers 2009/120, International Monetary Fund.
    28. Bordo,Michael D. & Roberds,William (ed.), 2013. "The Origins, History, and Future of the Federal Reserve," Cambridge Books, Cambridge University Press, number 9781107013728, October.
    29. Claudio Borio & Piti Disyatat, 2011. "Global imbalances and the financial crisis: Link or no link?," BIS Working Papers 346, Bank for International Settlements.
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    Cited by:

    1. Andreas Hoffmann & Gunther Schnabl, 2016. "Adverse Effects of Ultra-Loose Monetary Policies on Investment, Growth and Income Distribution," CESifo Working Paper Series 5754, CESifo.
    2. Jordan, Jerry L. & Luther, William J., 2022. "Central bank independence and the Federal Reserve's new operating regime," The Quarterly Review of Economics and Finance, Elsevier, vol. 84(C), pages 510-515.

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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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