Saturday, 22 July 2017

Monthly Archives April 2015

Sound money macro: A follow up

April 13, 2015

In a recent post, I discussed sound money insofar as it enables macroeconomic stability. I emphasized one argument made by George Selgin and others concerning the information content of prices over time. Every economist fortunate enough to have a grandpa has had to explain at one time or another that, even though one might have […]

Read More

Cato launches new blog: Alt-M

April 9, 2015

Earlier today, George Selgin, Director of the Cato Institute’s Center for Monetary and Financial Alternatives announced the launch of the Center’s new blog, “Alt-M.” We at the Sound Money Project are excited to continue to work with Dr. Selgin and his team to  raise awareness throughout the United States about the inherent problems of our […]

Read More

Wars and the pre-Fed economy

Posted by Thomas L. Hogan
April 8, 2015

Many economists assume that the Fed has improved U.S. economic performance relative to the pre-Fed periods. As I discussed in a previous blog post, however, the Fed has been better on some margins and worse on others. Most improvements under the Fed have only come since about 1985 during the Great Moderation. Another aspect that […]

Read More

The great stagnation

April 6, 2015

Ben Bernanke, now at Brookings Institute, has a new blog where he has been discussing low interest rates and the problem of secular stagnation. Great stagnation occurs when there are plenty of savings, but not investment options. Therefore, savings are not invested, aggregate demand weakens, and the economy stagnates. David Beckworth and The Economist offer […]

Read More

The monetary approach reigns supreme

April 3, 2015

This article appeared in the April 2015 issue of Globe Asia.  We are still in the grip of the Great Recession. Economic growth remains anemic and below its trend rate in most parts of the world. And what’s more, this state of subdued economic activity has been with us for over seven years. In the U.S. […]

Read More

Hidden costs of Federal Deposit Insurance

April 1, 2015

Everyone loves government-provided deposit insurance! Well, not everyone. But nearly everyone. It makes them feel secure knowing that, if their bank goes belly up, the Federal Deposit Insurance Corporation will swoop into action. What’s not to love about that? Co-blogger Thomas Hogan and I have argued that, contrary to standard models of deposit insurance, FDIC […]

Read More