Preface

1. Introduction Thomas Mayer

2. Studying the Fed: towards a broader public choice perspective Thomas Willett

3. The Federal Reserve reaction function: a specification search Salwa Khouri

4. Corporate profitability as a determinant of restrictive monetary policy: estimates for the post-war United States Gerald Epstein and Juliet Schor

5. Federal reserve behavior since 1980: a financial market perspective William Melton and V. Vance Roley

6. The Federal Reserve and its institutional environment: a review Michael Munger and Brian Roberts

7. The political economy of monetary policy Robert Hetzel

8. Political monetary cycles Nathaniel Beck

9. Congress and the Fed: Why the dog does not bark in the night Nathaniel Beck

10. The Federal Reserve as a political power James Pierce

11. Monetary policy and political economy: the Federal Reserve and the Bank of Japan Thomas Cargill and Michael Hutchinson

12. A positive analysis of the policymaking process at the Federal Reserve Raymond Lombra and Nicholas Karamouzis

13. A theory of FOMC dissent voting with evidence from the time series Thomas Havrilesky and Robert Schweitzer

14. Explaining FOMC members' votes John Gildea

15. Fed behaviour and X-efficiency theory: toward a general framework Harinder Singh and Roger Frantz

16. Minimizing regret: cognitive dissonance as an explanation of FOMC behavior Thomas Mayer

17. The discount window William Poole

18. Leaning against the wind: the behavior of the money stock in recession and recovery, 1953-8 Elmus Wicker

19. Bureaucratic self-interest as an obstacle to monetary reform Edward Kane

Index.