Monday, 11 December 2017

Monthly Archives May 2015

Venezuela: No rule of law, bad money

May 27, 2015
in Blog

This article appeared in the June 2015 issue of Globe Asia. By Dr. Steve H. Hanke The rule of law subjects the State to a fixed set of rules that limits the scope of its coercive powers. Individuals and their property are protected from the arbitrary, ad hoc actions of the State and other individuals. In […]

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What does monetary policy have to do with interest rates?

May 20, 2015
in Blog

Very little, really.  Despite what we teach our students in Principles classes, and in some more advanced classes on Macroeconomics and Money & Banking, the relationship between changes in the stance of monetary policy and changes in interest rates are ambiguous. The standard story, having its roots in the interest rate theories of old Keynesianism, […]

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Shock or gradualism?

May 18, 2015
in Blog

Big economic crises or situations of economic distress usually put pressure on policy makers to embark upon economic reforms. If the situation is troubled enough, then whether the reforms should all be done at once (shock) or step-by-step over time (gradualism) becomes a heated question. Some Latin American countries, like Argentina, have experienced this dilemma […]

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Op-ed: Reckoning for the Fed

May 13, 2015
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It’s happening. People are finally starting to realize that the Federal Reserve’s policies might not be working and central bankers are going on the defensive. At least former Fed Chairman Ben Bernanke did when, in response to a recent editorial in The Wall Street Journal, he claimed that “he never promised monetary policy would be a “panacea” for […]

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Gold-backed money must be private money

Posted by Jerry Jordan
May 11, 2015
in Blog

Dr. Jordan’s article appeared in the Spring/Summer 2015 edition of the Cato Journal. “I am convinced we shall never have good money again so long as we leave it in the hands of government. Government has always destroyed the monetary systems.” Friedrich A. Hayek (1978) In the next issue of Cato Journal, I discuss the tax […]

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Monetary equilibrium and monetary institutions

May 6, 2015
in Blog

I am very excited to join the Sound Money Project and contribute to the understanding of monetary systems that are conducive to economic stability.  To begin, I would like to describe how I think about monetary theory at a general level, and how this informs the study and analysis of monetary institutions. Money is incredibly […]

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Alexander W. Salter joins the Sound Money Project team

May 4, 2015
in Blog

It has truly been an exciting year for the Atlas Network’s Sound Money Project and Washington’s monetary policy community. From meetings with Federal Reserve Chairwoman Janet Yellen to the opening of new monetary policy centers, SMP has been at the forefront- thanks, in great part, to the quality work and dedication of our fellows. This […]

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Should central banks target NGDP?

May 4, 2015
in Blog

That was the topic of a conference organized by the Center for Free Enterprise at West Virginia University that took place on Saturday, April 25. The conference was divided in two sessions: one where theoretical aspects of NGDP were discussed and another that took a more empirical approach to the matter. I presented in the […]

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