monetary rules

Kurt’s recent post on NGDP targeting just happens to come right on time to introduce one I’d been contemplating concerning the connection between such targeting and free banking. While many readers may suppose the two things to represent alternative, if not antagonistic, approaches to monetary reform, I…

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At the Mercatus / Cato CMFA conference a few weeks ago on “Monetary Rules for a Post-Crisis World,” David Laidler and David Glasner gave interesting and informative talks on the history (and history of economic thought) regarding the evolution of monetary rules during the first panel. Video…

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Earlier this month a crowd of over a hundred and fifty gathered at George Mason University’s Arlington Campus for an academic conference co-hosted by the Mercatus Center and the CMFA. The conference, “Monetary Rules for a Post-Crisis World,” featured leading monetary economists, Washington’s top financial journalists, and…

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I was just about to treat myself to a little R&R last Friday when — wouldn’t you know it? — I received an email message from the Brookings Institution’s Hutchins Center. The message alerted me to a new Brookings Paper by former Minneapolis Fed President Narayana Kocherlakota….

The post Rules, Discretion, and Audacity: A Critique of Kocherlakota appeared first on Alt-M.

I often find myself described, not as a monetary economist, plain vanilla or otherwise, but as a “free banker,” and (therefore) as someone who wants to “abolish” the Fed.  Yet I’ve also been accused of lacking consistency, and even of being an outright apologist for monetary central planning, because I…

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More than two hundred people gathered at the Cato Institute last Thursday for our 33rd Annual Monetary Conference.  Over the course of three addresses and four panel discussions, a distinguished cast of speakers — including St. Louis Fed president James Bullard, Richmond Fed president Jeffrey Lacker, and Stanford economist John Taylor…

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In its  “Free Exchange” column, the Economist recently took up the issue of monetary rules.  Provocatively titled “Rule It Out,” the column announced that “setting interest rates according to a fixed formula is a bad idea.” Reading the column one quickly learns the author doesn’t understand what constitutes a rule,…

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