Free Banking

Research papers presented at November’s 34th Annual Monetary Conference: Central Banks and Financial Turmoil are now available in the latest edition of  the Cato Journal. The articles investigate pressing questions like the monetary effects of macroprudential regulation, central banks and the debt trap, and the monetary transmission…

The post New Release: Special Cato Journal Monetary Issue appeared first on Alt-M.

In March, the Federal Open Market Committee (FOMC) signaled it could begin shrinking the Fed’s balance sheet sometime later this year. However, with limited official details about what that means and none forthcoming from last week’s FOMC press release, many questions remain: How will the Fed decide…

The post Shrinking the Balance Sheet: Where Fed Officials Stand appeared first on Alt-M.

(Originally appeared on January 12, 2013.) An important post from Lars Christensen at The Market Monetarist this morning.  Lars argues that many folks have misunderstood the argument for monetary easing in order to target NGDP growth by framing it in terms of discretionary policy.  The market monetarists,…

The post Friday Flashback: Market Monetarism and the Monetary Constitution appeared first on Alt-M.

A well-known obstacle to the greater popularity of Bitcoin as a medium of payment is the high volatility of its exchange value. This volatility results from its built-in quantity commitment: because the number of Bitcoins in existence stays on a programmed path, variations in the real demand…

The post Dollar-Denominated Cryptocurrencies: Flops and Tethered Success appeared first on Alt-M.