Friday, 22 May 2015
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    Many percent signs and one standing out as the best interest rate, growth increase or return on inve

    What does monetary policy have to do with interest rates?

    May 20, 2015
    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, […]
    Direction Sign of Short-Term and Long-Term

    Shock or gradualism?

    May 18, 2015
    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 […]
    Federal Reserve Facade 2

    Op-ed: Reckoning for the Fed

    May 13, 2015
    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 […]
    Many gold bars with shallow depth of field. Fictional logo on the gold bars.

    Gold-backed money must be private money

    May 11, 2015
    Dr. Jordan’s article will be published 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 […]
    Perfect Balance Between Bank And Money.

    Monetary equilibrium and monetary institutions

    May 6, 2015
    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 […]

    Alexander W. Salter joins the Sound Money Project team

    May 4, 2015
    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 […]
    Target On Tree

    Should central banks target NGDP?

    May 4, 2015
    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 […]
    Greek Crash

    Greece: Down and probably out

    April 28, 2015
    This piece was originally published in Globe Asia, April 2015. By Dr. Steve H. Hanke Led by the charismatic Alexis Tsipras, the Syriza party took office in Athens on January 26th. The most prominent member of the new Prime Minister’s cabinet is Yanis Varoufakis, the Finance Minister. He is an economics professor, with a complete […]