6533b85bfe1ef96bd12ba738
RESEARCH PRODUCT
Reshaping Monetary Policy after the Great Crash: John H. Williams at the NY FED
Asso Pier FrancescoSebastiano Nerozzisubject
Fiscal PolicyNew DealSettore SECS-P/04 - Storia Del Pensiero EconomicoGreat DepressionJohn H. WilliamsMonetary TheoryMonetary PolicyHistory of the FEDdescription
John H. Williams was an influential economist and central banker in the interwar years. A Harvard University professor since 1929 specialized in international trade and monetary economics, he joined the NY Fed in 1933 and became its vice-President in 1936. This paper aims to provide a general assessment of Williams’ contributions to monetary and fiscal policy during his tenure at the NY FED. We shall try to do so by following a twofold perspective: i. establish connections between Williams’ more theoretical works, his interpretations of the great depression and some policy decisions enacted by the FED in the 1930s; ii. provide new archival evidence on what was the part Williams played in the shaping of US monetary policy and in the debate over the optimal mix between fiscal and monetary policy.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2020-01-01 |