Alexander W. Salter

Having a monetary constitution is important. But do we need a distinct monetary constitution? Steven Horwitz says no. Agreeing with James Buchanan that a monetary constitution is desirable, Horwitz argues […]

My previous posts have been fairly positive towards the idea of a monetary constitution: a binding rule on monetary policy makers that these policy makers cannot change.  A monetary constitution […]

In my previous posts, I argued that it is imperative to secure a monetary policy regime that adheres to the rule of law.  In this post, I will extend the argument further: […]

In my last post, I argued that monetary regimes should be judged not just on macroeconomic grounds, but also on whether they adhere to the rule of law.  In this post, […]

When people think of monetary economics, they tend to do so in the context of macroeconomics. The questions that are most often addressed have to do with the effects of particular […]

Previously I discussed inflation targeting as a popular rule for governing central bank behavior. In this post I will discuss interest rate targeting, another popular recommendation that has its own […]

Among economists who agree that monetary policy should be conducted according to predictable rules, perhaps no proposed rule enjoys greater support than inflation targeting.  In brief, inflation targeting means the […]

Very little, really.  Despite what we teach our students in Principles classes, and in some more advanced classes on Macroeconomics and Money & Banking, the relationship between changes in the […]

I am very excited to join the Sound Money Project and contribute to the understanding of monetary systems that are conducive to economic stability.  To begin, I would like to […]