Rev Ind Organ (2016) 48:119–121 DOI 10.1007/s11151-015-9496-6 Industrial Organization Research by Federal Reserve Board Economists Robin A. Prager Published online: 2 January 2016 Springer Science+Business Media New York (outside the USA) 2016 The Federal Reserve System, which was created by the Federal Reserve Act of 1913, is the central bank of the United States. It is composed of the Board of Governors (or Federal Reserve Board), which is located in Washington, DC, and 12 regional Federal Reserve Banks: these regional Reserve Banks are located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco. The Federal Reserve System’s responsibilities include conducting monetary policy to achieve maximum employment and stable prices, supervising and regulating banks, maintaining the stability of the ﬁnancial system, and providing ﬁnancial services to depository institutions, the US Government, and foreign ofﬁcial institutions. The Board and the Reserve Banks work together to fulﬁll the System’s responsibilities. This special issue of the Review of Industrial Organization features four articles that are authored by Federal Reserve Board economists. Although the Federal Reserve Board is widely recognized for its expertise in the areas of monetary policy and macroeconomics, many of its more
Review of Industrial Organization – Springer Journals
Published: Jan 2, 2016
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