Monetary Policy
|
“The Relationship Between Inflation and the Budget Deficit in Turkey”
“For Turkey, Metin (1995) analyzed inflation using a general framework of sectoral relationships and found that fiscal expansion was a determining factor for inflation. The excess demand for money affected […]
|
“Calculating the Candy Price Index”
“In this classroom experiment, students develop a price index based on candy-purchasing decisions made by members of their class. They use their index to practice calculationg inflation rates and to […]
|
“Economic Calculation and Monetary Stability”
“My thesis will be that monetarists, while their criticism ofthe Fed’sthesis will be that monetarists, while their criticism ofthe Fed’s expansionist history has been most welcome and has been instrumental […]
|
Carmen Reinhart on Debt Crises
University of Maryland economist Carmen Reinhart recently published a book with co-researcher Kennet Rogoff presenting several hundred years of data on financial crises. The title This Time Is Different alludes […]
|
Hayek’s Contribution to Monetary Theory
“Those who wish to preserve freedom should recognize, however, that inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more […]
|
Spending on Full
On Wednesday, I posted a link to a Freedom Daily article by Jim Powell. It was a very interesting article. I highly recommend it for those who are not aware […]
|
“The euro: love it or leave it?”
“The world economy is continually changing, but one constant is dissatisfaction with the euro. Toward the beginning of the decade, the main complaint was that the euro was too weak […]
|
“The Austrian Theory of the Trade Cycle”
“Nowadays it is usual in economics to talk about the Austrian theory of the trade cycle. This description is extremely flattering for us Austrian economists, and we greatly appreciate the […]
|
“How a Rich and Proud Nation Went Broke”
“On Loyalty Day, October 17, 1951, Evita declared, “I ask you today, comrades, only one thing — that we will all swear publicly to defend Perón and fight to the […]
|
Let’s Talk Some Monetary Theory and the Trade Cycle
“For the graduate students, my focus is both to communicate the basic idea (and research puzzles) of how to study intertemporal coordination. I have asked them to think about the […]
|
Real Banking Reform? End the Federal Reserve
“The next major question that needs to be asked is: How do they know? These are the same politicians whose time horizon goes no further than the next election day, […]
|
Market Interest Rates Need to Tell the Truth
“In the free market, interest rates perform the same functions as all other prices: to provide information to market participants; to serve as an incentive mechanism for buyers and sellers; […]