I've been getting some flak lately from hard-core free market types for occasionally saying some nice things about NGDP targeting, and especially for suggesting, in the course of a recent Cato forum contribution, that we might improve upon the present U.S. arrangement by replacing the FOMC with…
Forbes article here, worth reading. Larry White offered testimony in NotHaus's favor, if I recall correctly, and perhaps he will have some comment.
The centenary of the opening of the Federal Reserve System was November 16, 1914. The Federal Reserve Act was passed in December 1913 but the organization took nearly a year to open. Here is the Federal Reserve page on the event. Since it was not previously mentioned…
The Forgotten Depression, Jim Grant's excellent book about the 1920-21 downturn and the recovery that followed, has generated a burst of critical commentary from persons anxious to reject the principal conclusion Grant draws from that episode. That conclusion, in brief, is that the U.S. was able to…
I visited Quito and Guayaquil in Ecuador last month to speak at conferences celebrating the fifteenth anniversary of official dollarization. The conference in Quito was sponsored by the Universidad de San Francisco de Quito, headed by Dr. Santiago Gangotena; in Guayaquil by the think tank IEEP which…