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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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Banking Regulation

interest on reserves, margin compression, negative interest rates, net interest margin, risk adjustment
Banking Regulation, Financial Markets, The Fed & Central Banks

Misunderstanding the Net Interest Margin

Julien Noizet/June 1, 2016June 23, 2016 /Leave a comment

Lately, there have been a lot of discussions in the media and in the academic sphere surrounding banks’ net interest margin in the low (or negative) interest rate environment.  I have explained before how lowering interest rates below a certain threshold led to "margin compression" (see here), which…

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bank lending, credit channel, Dodd-Frank, GDP Growth, Great Recession
Banking Regulation, Recommended Reading

Dodd-Frank, Economic Policy Uncertainty, and Bank Lending

Ari Blask/May 21, 2016May 20, 2016 /4 Comments

Michael Bordo, John Duca, and Christoffer Koch recently produced a Cato Institute Research Brief on how policy uncertainty affects bank lending.  The Cato Research Briefs in Economic Policy series allows economic researchers to write an accessible 2,000 word summary of an academic article that cuts through the…

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Bank Capital, Basel III, leverage ratio, Risk Weighted Assets, unlimited liability
Banking Regulation, Economic Thought, Free Banking

Two Cheers for the Leverage Ratio

Kevin Dowd/May 12, 2016May 11, 2016 /25 Comments

In a previous blog posting, I suggested that there is no case for capital adequacy regulation in an unregulated banking system.  In this ‘first-best’ environment, a bank’s capital policy would be just another aspect of its business model, comparable to its lending or reserving policies, say.  Banks’…

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Recent Posts

  • Should the Fed Devalue Our Currency to Implement Negative Interest Rates?
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  • Revising the Bank Secrecy Act to Protect Privacy and Deter Criminals (CMFA Working Paper No.007)
  • Bitcoin: Problems and Prospects
  • Warburton on Theories of Monetary Control and the Fed
  • The New Deal and Recovery, Part 17: The Keynesian Myth, Concluded
  • The New Deal and Recovery, Part 16: The Keynesian Myth, Continued

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About Us

Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

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