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
On the origins of cryptocurrencies
WJ Luther, N Sridhar
A Modern Guide to Austrian Economics, 200-215, 2022
Articles
Monetary Control: Central Banks Today
“The Fed’s operating framework systematically tends towards the abuse of life, liberty, and property. If we want to fix this, we need to take a much closer look at the relationship between money and freedom. Only if we understand this relationship, philosophically, economically, and historically, will we be in a position to fix what’s gone wrong with our monetary institutions.” ~ Alexander W. Salter
Assessing Potential for Higher Inflation
“Monetary policy is intentionally supporting fiscal policy and supporting levels of indebtedness from the Federal government that are unprecedented. The result has been an explosion of M2 that increases the risk of inflation. There is a fair chance that policymakers will succeed. But, for the possibility of success, they risk a monetary-fiscal crisis.” ~ James L. Caton
The Lumber Market Delirium
“A sordid cocktail of Covid lockdowns and expansionary monetary policy have led to explosive conditions in long-docile lumber markets.” ~ Peter C. Earle
The Rise of Bitcoin
“The blockchain technology at bitcoin’s core provides a new and fundamentally different way to process payments. It relies on neither decentralized nor centralized clearing. Instead, it processes transactions over a distributed network. And, by solving the double spending problem without recourse to a trusted third party, it has the potential to offer a degree of financial privacy comparable to decentralized payment mechanisms like cash.” ~ William J. Luther
Biden’s Infrastructure Boondoggle
“The immediate lesson from all of this is that Biden’s plan is a boondoggle waiting to happen (just as would have been the case with Trump). The longer-term lesson is that we should get the federal government out of the business of infrastructure.” ~ Daniel J. Mitchell
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