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.

Articles

Two Kinds of Transitory Inflation

“Team Transitory’s narrative just doesn’t cohere. Whether we’re trying to explain the Great Inflation of the 1970s and early 1980s, or the inflation of the past two years, we need to rely on demand-side mechanisms.” ~Alexander W. Salter

Dollarization in Argentina: A Missed Opportunity

“The delayed implementation of dollarization in Argentina presents challenges that could have been avoided had Milei honored his promise to abandon the peso straightaway.” ~Nicolás Cachanosky

US Can Thwart the CBDC Onslaught

“The argument that lagging digital dollar development is necessarily bad for Americans ignores a long history of US government promises about gathered data and its use.” ~Peter C. Earle

The flag of the American Federal Reserve System waving in the wind with the flag of the United States Washington DC March 2022

Time to Tame the “Apolitical” Fed?

“The Fed’s self-conception as an apolitical technocracy blinds it to the degree to which it has weighed in on fundamental political issues, which instead ought to be deliberated in Congress.” ~Alexander W. Salter