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Chapter 14: Structure of Central Banks...
Synopsis
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Until the creation of the European Central Bank, one could say that the Federal Reserve System had the most unusual structure of any central bank. Chapter 14 describes the unique structure of the Federal Reserve System and its evolution since 1913. Although the Federal Reserve has been granted a high degree of independence, a clearer understanding of its decisions requires that one acknowledge the political and bureaucratic forces influencing its behavior.
For a more detailed chapter review with additional exercises and self-tests, order the Student Study Guide, ISBN 0-321-19416-0.
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