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WKU professor publishes book on role of federal reserve

BOWLING GREEN, Ky. (Oct. 19, 2012) – David Beckworth, assistant professor of economics in the Gordon Ford College of Business at Western Kentucky University, is the editor of the recently-published book, “Boom and Bust Banking: The Causes and Cures of the Great Recession.”

This work is aimed at economists and readers interested in economic policy, specifically the role of the Federal Reserve upon U.S. monetary policy. The book provides a historical overview of the Great Boom and the Great Recession of the 21st century and then offers proposals to avoid these cycles of boom and bust in the future.

“The Federal Reserve was more than just a bit player over the past decade. The essays in this book make a strong case that U.S. monetary policy took what would have been an ordinary business cycle and turned it into the Great Boom and the Great Recession,” Dr. Beckworth writes in the introduction.

“Boom and Bust Banking” is published by The Independent Institute and can be purchased directly from the website: www.independent.org.

Dr. Beckworth’s research interest is on monetary policy, currently focusing upon the portfolio channel of Federal Reserve monetary policy and the global impact of those policies. He has contributed to the current policy discussion of possible effects of deflation using historical date from the 1800s. This is Dr. Beckworth’s first semester at WKU.