Abstract
In this article we analyze Edwin Walter Kemmerer’s contribution to the creation of the Federal Reserve System. Firstly, we contrast Kemmerer’s role in the transition from the Aldrich banking reform plan to the Glass–Owen plan with those of A. Piatt Andrew (who was Aldrich’s main advisor), H. Parker Willis (i.e., Carter Glass’s advisor), and J.L. Laughlin (who was Willis’ mentor). Secondly, we deal with theoretical questions posed by Kemmerer, who, as we assert, developed his own banking reform plan. Even if his proposals were not immediately taken into account in theFederal Reserve Actof 1913, he contributes to the institutional structure of the Federal Reserve System.
Publisher
Cambridge University Press (CUP)
Subject
History and Philosophy of Science,General Economics, Econometrics and Finance,General Arts and Humanities
Reference85 articles.
1. Kemmerer E. W. 1903. “Money and Credit Instruments in their Relation to General Prices.” PhD dissertation manuscript, Cornell University. First copy.
Cited by
13 articles.
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