Review of A History of the Federal Reserve, Volume 1 1913–51

Allan H. Meltzer, "A History of the Federal Reserve, Volume 1 1913–51", Chicago: University of Chicago Press, 2003.

In the 19th century the US economy was much more volatile than that of the British and other developing or developed countries. There was no central bank. There were frequent banking crises and financial crises with concomitant contractions in the monetary stock and in real output. Following the financial panic of 1907 and the particularly sharp downturn of 1908 (there were 240

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.