Monetary Economics
Monetary policy influences inflation, employment, and economic activity. A stable but dynamic monetary system is vital for supporting economic growth, individual liberty, and a prosperous society. Therefore, we examine the causes and consequences of monetary policy (including inflation), identify ideal and practical steps towards a better monetary policy regime, and look at monetary alternatives and financial regulation.
Research Publications for Monetary Economics
War, money & economy: Inflation and production in the Fed and pre-Fed periods
TL Hogan, DJ Smith
The Review of Austrian Economics, 1-23, 2022
RE Wright
Journal of Interdisciplinary History 52 (4), 624-626, 2022
Cash, crime, and cryptocurrencies
JR Hendrickson, WJ Luther
The Quarterly Review of Economics and Finance 85, 200-207, 2022
TL Hogan
The Review of Austrian Economics, 1-4, 2022
On the origins of cryptocurrencies
WJ Luther, N Sridhar
A Modern Guide to Austrian Economics, 200-215, 2022
Articles
Inflation Remained Elevated in February
“Market participants continue to expect three cuts this year — and that those cuts will begin in the first half of the year. But they have adjusted the odds.” ~William J. Luther
“The Price of Time” and Broken Central Banking
“The unique value of Chancellor’s book, beyond tracing this intellectual history of interest and illustrating it by financial debacles up and down the centuries, is to connect the social and market outcomes with the broken money markets.” ~Joakim Book
Congress Could Unload the Fed’s Weapon
“If Congress could balance its budget, which hasn’t happened since 2001, it would remove a bullet the Fed could shoot at the economy.” ~Vance Ginn
How the West Won the Money Race
“Today the world still benefits from monetary and financial innovations begun in China, then picked up and carried like a baton in Renaissance Europe.” ~Paul McDonnold
Inflation Remains Elevated. Is Money Actually Tight?
” Fed watchers expect the Federal Open Market Committee will keep rates steady when they meet on March 19-20. In light of the CPI data, that’s a defensible move.” ~Alexander W. Salter
AIER’s Everyday Price Index Spikes 0.73 Percent
“While tailwinds from normalizing supply chains are cooling goods prices, concerns linger about the sustainability of this trend. In particular, the February CPI readings strongly suggest that the January updraft was not anomalous.” ~Peter C. Earle