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William J. Luther

Suppression of State Banknotes

There were many problems with the state bank era. But that does not mean the suppression of state banknotes improved matters.

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William J. Luther

Morawetz on Central Banking

Victor Morawetz worried that regional differences would undermine central bank independence.

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Alexander W. Salter

Discretionary Central Banking Is Information Incompatible

Discretionary central banking places immense information burdens on central bankers.

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James L. Caton

The Domain of Cryptocurrency: Clearing Accounts and Liquidity Costs

Like clearinghouse associations, the blockchain technology will further stabilize the banking system.

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Jeffrey Tucker

Trump’s Tariff Threat Is Real

Trump seems to understand what is wrong with red tape and high costs within the borders but he seems blind to the terrible costs of doing the same to goods and services that cross the border into the United States.

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Blog_2018_01_25
Robert Hughes

New- and Existing-Home Sales Are Showing Divergent Paths

Sales of new and existing single-family homes fell in December. However, a stronger postrecession recovery in existing-home sales has pushed the current months supply to an all-time low while the months supply for single-family homes has held relatively steady in recent months.

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