Nicolas Cachanosky
He earned a Licentiate in Economics from the Pontificia Universidad Católica Argentina, a M.A. in Economics and Political Sciences from the Escuela Superior de Economía y Administración de Empresas (ESEADE), and his Ph.D. in Economics from Suffolk University, Boston, MA.
Dr. Cachanosky is author of Reflexiones Sobre la Economía Argentina (Instituto Acton Argentina, 2017), Monetary Equilibrium and Nominal Income Targeting (Routledge, 2019), and co-author of Austrian Capital Theory: A Modern Survey of the Essentials (Cambridge University Press, 2019), Capital and Finance: Theory and History (Routledge, 2020), and Dolarización: Una Solución para la Argentina (Editorial Claridad, 2022).
Dr. Cachanosky’s research has been published in outlets such as Journal of Economic Behavior & Organization, Public Choice, Journal of Institutional Economics, Quarterly Review of Economics and Finance, and Journal of the History of Economic Thought among other outlets.
Articles
Don’t Raise the Target; Change the Framework
“By adopting a nominal spending target, the Fed would embrace a regime that provides clear guidance on the required spending level during times of crisis. This shift would enhance the Fed’s ability to navigate economic downturns effectively.” ~ Nicolás Cachanosky
Bank Term Funding Program Discounts the Discount Window
“The Fed says it created BTFP to ‘support American businesses and households.’ But those businesses and households will ultimately be on the hook if the Fed’s risk-taking turns out to be too much.” ~ Nicolás Cachanosky
Silicon Valley Bank: Mismanagement Is Not an Excuse for Inefficient Regulation
“The mismanagement was endogenous to the regulatory regime. Rather than promoting financial stability, regulators have undermined it. Doubling down on a failed strategy will not make things better.” ~ Nicolás Cachanosky
More Interest Rate Hikes Ahead
“Fed officials will likely continue tightening, and to a greater extent than previously projected. Their overreaction will not undo the damage of acting too late. It will make matters worse.” ~ Nicolás Cachanosky
Efforts to Depoliticize the Fed Will Likely Make Matters Worse
“These efforts to increase Congressional oversight are unlikely to depoliticize the Fed. Indeed, they are likely to make matters even worse.” ~ Nicolás Cachanosky
CBDCs: What Can We Learn From Dollarized Countries?
“How much more could FDR have done had he had a CBDC? The risk of a CBDC goes beyond the serious issue of financial privacy.” ~ Nicolás Cachanosky
There Is No Such Thing As Student Debt Cancellation
“The cancellation narrative is reinforced by advocates talking about the benefits of the debt relief, while remaining silent about its costs. There is no such thing as debt cancellation. The loan will be repaid. The only question is who will foot the bill.” ~ Nicolás Cachanosky
There Are Good Reasons for Monetary Rules
“A good monetary rule does not only identify an appropriate course of action in advance. It also requires monetary policymakers to take that course and, in doing so, reduces the uncertainty businesses and consumers face.” ~ Nicolás Cachanosky
Are Supply Chain Issues Driving Inflation?
“Inflation can be a serious problem, especially if it becomes persistent. Yet, the willingness of politicians to blame supply disturbances and corporations rather than acknowledging that loose monetary policy is largely responsible for today’s inflation is even more worrisome.” ~ Nicolás Cachanosky
Do Greedy Countries Have Higher Inflation?
“Blaming big corporations for inflation no doubt serves the political interests of Sens. Warren and Sanders. But it is inconsistent with the available data. That is not surprising: It is inconsistent with standard monetary economics as well.” ~ Nicolás Cachanosky
