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Central Bank Autonomy: The Federal Reserve System in American Politics by J. Kevin Corder,

Central Bank Autonomy: The Federal Reserve System in American Politics by J. Kevin Corder,
Why is the Federal Reserve System so powerful and autonomous? The autonomy of the central bank in the United States is the joint product of strategic choices made by decision makers in the Fed and choices made by members of Congress. Fed decision makers update administrative procedure in ways that frustrate representative control of monetary policy. Members of Congress tolerate experimentation with procedures and rules because Fed independence creates an obstacle for presidents interested in controlling macroeconomic outcomes for electoral or partisan gain. Central bank autonomy is not a serious threat for members of Congress, as they independently develop a number of federal credit programs to counteract the consequences of monetary policy choices for particular sectors of the economy (notably, home construction and small business enterprise). The transformation of the Federal Reserve System reveals how gradual and incremental institutional changes can affect the strategies of political actors and policy outcomes. This finding challenges the dominant description of institutional change that has informed applied work on political institutions in both international relations and American politics. Conventional descriptions emphasize long periods of institutional stability punctuated by short periods of rapid change. Institutional change at the Fed is a gradual and continuous process. Incremental changes in monetary policy institutions (reserve requirements, open market rules, selective credit regulations) reveal the rich variety of strategic options for bureaucrats who desire autonomy from elected officials and the real effects of changing policy institutions on macroeconomic andcapital market outcomes.



Medicaid and the Costs of Federalism, 1984-1992 by Jean Gilman,
Medicaid and the Costs of Federalism, 1984-1992 by Jean Gilman,
While assistance programs for the poor have never been as popular as those for the elderly, one such program, Medicaid, became a favorite target for expansion by state and national policymakers during the fiscally conservative 1980s and early 1990s. As a result, Medicaid's expenditures began to grow at rates double that of Medicare which serves the elderly. The author explores the complex political and institutional factors, as well as the contribution of one exceptionally motivated individual, Henry Waxman, in promoting this unusual situation. Why was Medicaid singled out as virtually the only health care program expanded by Congress during these years? The answer is in the nature of the policy itself -- Medicaid's shared financing mechanism -- in which program costs are paid for jointly by the federal and state governments. Such an arrangement diffuses responsibility, increasing opportunities for shifting costs, blame, and/or credit between levels of government. This study presents numerous examples in which the federal government and states expanded the Medicaid program to serve their own interests, while shifting part or all of the cost to the other level of government. The end result was a dramatic increase in Medicaid expenditures, while those of Medicare program, funded by a single level of government, leveled off.



Tru Choice Federal Credit Union - The Tru Choice Federal Credit Union was called the Medical Federal Credit Union but due to a change it is now called Tru Choice. It is a federal credit union located on park avenue right across the street from Hadlock Field in Portland, Maine.

Navy Federal Credit Union - Navy Federal Credit Union is a credit union chartered and regulated under the authority of the National Credit Union Administration (NCUA). Like all credit unions, Navy Federal is governed by a Board of volunteers.

Taunton Federal Credit Union - The Taunton Federal Credit Union (TFCU) is a federal credit union based out of the city of Taunton (MA). TFCU provides an wide array of financial services to homeowners and etc.

Orange County Teachers Federal Credit Union - Orange County Teachers Federal Credit Union is federally-chartered credit union headquartered in Santa Ana, California that serves educators in Southern California. It is commonly known by the acronym "OCTFCU", which many attempt to pronounce OCK-tuh-foo.



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