Foreword John B. Taylor Introduction/Overview Part 1: Theoretical Perspectives Rules versus Discretion: A Perennial Theme in Monetary Economics Michael D. BordoThe Importance of Stable Money: Theory and Evidence Michael D. Bordo and Anna J. Schwartz Part 2: Empirical Evidence Monetary Policy Regimes and Economic Performance: The Historical Record Michael D. Bordo and Anna J. SchwartzIntroduction to "The Great Inflation: The Rebirth of Modern Central Banking" Michael D. Bordo and Athanasios Orphanides Part 3: Monetary Policy Performance Exits from Recessions: The US Experience, 1920-2007 Michael D.

Bordo and John S. Landon-LaneDeep Recessions, Fast Recoveries, and Financial Crises: Evidence from the American Record Michael D. Bordo and Joseph G. HaubrichCredit Crises, Money and Contractions: An Historical View" Michael D. Bordo and Joseph G. HaubrichThree Great American Disinflations Michael D. Bordo, Christopher Erceg, Andrew Levin, and Ryan MichaelsAggregate Price Shocks and Financial Instability: A Historical Analysis Michael D. Bordo, Michael Dueker, and David WheelockDoes Expansionary Monetary Policy Cause Asset Price Booms? Some Historical and Empirical Evidence Michael D.

Bordo and John Landon-Lane Part 4: Monetary History The History of Monetary Policy Michael D. BordoThe Banking Panics in the United States in the 1930s: Some Lessons for Today Michael D. Bordo and John Landon-LaneCould Stable Money Have Averted the Great Contraction? Michael D. Bordo, Ehsan U. Choudhri, and Anna J. SchwartzWas Expansionary Monetary Policy Feasible during the Great Contraction? An Examination of the Gold Standard Constraint Michael D. Bordo, Ehsan U. Choudhri, and Anna J.

SchwartzCould the United States Have Had a Better Central Bank? An Historical Counterfactual Speculation Michael D. Bordo About the Author Index.