Alexander Hamilton
(c. 1757–1804)US Federalist politician. He served under George Washington as First Secretary of the Treasury (1789–95) and established the US central banking system. Hamilton was a prime mover behind ...
Andrew Jackson
(1767–1845)US general and Democratic statesman, 7th President of the USA (1829–37). After waging several campaigns against American Indians, he defeated a British army at New Orleans (1815) and ...
asset-based monetary aggregate
A measure of money supply based not on notes and coins but on the price behaviour of certain assets, such as property prices, exchange rates, and other securities. The intent ...
Bank of Canada
(Canada).Founded in 1934 as a private institution it subsequently passed into government ownership in 1938. Responsibility for policy is vested in the Board of Directors under the Bank of ...
Bank of England
The central bank of the UK. It was established in 1694 as a private bank by London merchants in order to lend money to the state and to deal with the national debt. It came under public ownership in ...
Bank of the United States
Between 1791 and 1811 and again from 1816 to 1836, the U.S. government created and operated a national bank that by most historical assessments met the nation's financial needs effectively. But the ...
banking and finance
Encouraged by Alexander Hamilton, Robert Morris persuaded the Continental Congress to charter the Bank of North America in 1781. It lent money to the cash-strapped Revolutionary government as well as ...
Banque de France
The central bank of France. Established in 1800 and nationalized in January 1946, it was granted operational independence in 1993 as a preparation for European Monetary Union. It is now linked to the ...
Benjamin Harrison
(1833–1901)US Republican statesman, 23rd President of the USA (1889–93). He was the grandson of William Henry Harrison.
business cycle
Observed changes to economic conditions which move from prosperity through recession to depression and hence back to recovery and further prosperity. Also known as the economic cycle. See, for ...
central bank
A bank which controls a country's money supply and monetary policy. It acts as a banker to other banks, and a lender of last resort. In some countries, including the UK, the central bank is also the ...
deflation
The situation in which there is a general decrease in prices, especially when this is accompanied by falling levels of output, employment, and trade. Because of these associations, advocates of ...
depression
An extended or severe period of recession. Depressions occur infrequently. The most recent Great Depression occurred in the 1930s; prior to that they occurred in the periods 1873–96, 1844–51, and ...
directive
1 (Banking; USA) An instruction from the Federal Reserve Open Market Committee to the operating arm of the Federal Reserve, the Federal Reserve Bank of New York (aka the desk), to pursue a given ...
discount window
(Banking; USA).A facility provided by the Federal Reserve enabling banks to borrow reserves against eligible assets. Now also applied to the same activity in other countries.
divisia money
A method for calculating money supply using an aggregate of all monetary aggregates weighted by the degree of liquidity. Therefore, changes in M0, for example, would count for more in ...
Economic Regulation.
The objectives of economic regulation are usually mixed: to achieve an appropriate balance between efficiency and equity, to steer acquisitive human urges into productive channels, and to strike ...
economics
The study of the production, distribution, and consumption of resources, and the management of state income and expenditure. See also classical economics, ecological economics, environmental ...
Era of the Early Republic
(1789–1828).Elections for the new federal government established by the Constitution were held in the winter of 1788–1789. Supporters of the Constitution, calling themselves Federalists, won control ...
