Bulletin n. 2-3/2012 | ||
October 2012-February 2013 | ||
Jeffrey Miron |
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Comment on “Selgin, Lastrapes, and White’s ‘Has the Fed Been a Failure?’” | ||
in Journal of Macroeconomics , volume 34 n.3 , 2012 , 631–636 | ||
In “Has the Fed Been a Failure?,” Selgin, Lastrapes, and White (SLW) argue that U.S. aggregate economic performance has not obviously improved since the founding of the Fed in 1914. They also suggest that alternatives to the Fed, such as a gold standard, might have generated better performance. I present additional data that challenge these conclusions. | ||