Nicolás Cachanosky
Currency boards and dollarization
Sometimes sound money has to be imported from abroad. Some countries, like Ecuador, are dollarized. Ecuador dollarized its economy in the year 2000. Others countries don’t go that far, but […]
Understanding the Greek crisis
As I write these lines, it is almost certain that Greece will default on its debt today, June 30. What led to such a disastrous situation? To understand, we must […]
Why free-banking?
The need for and convenience of a central bank are usually taken for granted. To say that a central bank is a good institution and, therefore, needed, is not enough. […]
Shock or gradualism?
Big economic crises or situations of economic distress usually put pressure on policy makers to embark upon economic reforms. If the situation is troubled enough, then whether the reforms should […]
Should central banks target NGDP?
That was the topic of a conference organized by the Center for Free Enterprise at West Virginia University that took place on Saturday, April 25. The conference was divided in […]
The Taylor Rule and the natural rate of interest
A few weeks ago I commented on whether or not the Market Monetarist position that a 5% growth rate of NGDP (before the subprime crisis) could have been too much. […]
The great stagnation
Ben Bernanke, now at Brookings Institute, has a new blog where he has been discussing low interest rates and the problem of secular stagnation. Great stagnation occurs when there are […]
No, the interest rate is not the price of money
The notion that the interest rate is the price of money is seriously misled. As I move forward with my lectures on the Keynesian system, this is something that I want […]
Sound money abroad: the Ecuadorian case
Sometimes sound money can be found abroad. Some countries, simply put, cannot or do not want to have reliable monetary institutions. Take the example of Argentina.Since the foundation of the […]
NGDP targeting: is five percent too much?
That’s the title of a new working paper that you can find here. The topic is closely related to a previous post that I wrote here at the Sound Money Project. In that […]
