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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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Booms & Busts

Federal Reserve, monetary policy, monetary stimulus, quantitative easing
Booms & Busts, The Fed & Central Banks

Evaluating Quantitative Easing

Gerald P O'Driscoll/May 29, 2015December 19, 2015 /15 Comments

In my prior post, "The Futility of Stimulus," I examined whether Federal Reserve Policy has provided economic stimulus.  I employed standard measures of money-supply growth to evaluate the question.  I concluded that Federal Reserve policy has resulted in less expansion of the money supply than would normally…

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federal reserve, sisyphus, monetary stimulus
Booms & Busts, The Fed & Central Banks

The Futility of Stimulus

Gerald P O'Driscoll/May 27, 2015December 19, 2015 /13 Comments

George Selgin has recently focused on the failure of Federal Reserve policy to finance a normal recovery.  The Fed has greatly expanded its balance sheet and created a large quantity of excess reserves, which, for a variety of reasons, commercial banks have not mobilized into credit creation….

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Booms & Busts, The Fed & Central Banks

Was Monetary Policy Loose During the Housing Boom?

David Beckworth/April 25, 2015December 19, 2015 /5 Comments

Did the Fed set its policy interest rate below the market-clearing or 'natural' interest rate level in the early-to-mid 2000s? Or did it simply lower its policy interest rate down to a depressed natural interest rate level during this time? The answers to these questions determine whether…

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Bernanke Greenspan FOMC subprime low interest rates
Booms & Busts, Recommended Reading, The Fed & Central Banks

How the Fed Ended Up Fueling a Subprime Boom

George Selgin/April 17, 2015December 19, 2015 /15 Comments

Plenty of writers have claimed that the Fed fueled the sub-prime boom by holding interest rates too low for too long after the dot-com crash.   But hardly anyone has tried to explain why it did so. Yours truly has taken a stab at it, together with his…

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Booms & Busts, The Fed & Central Banks

The Fed and the Recovery, or, QE not D

George Selgin/April 2, 2015December 19, 2015 /11 Comments

Lately more and more people seem inclined to congratulate the Fed for the great job it has done saving us from another Great Depression and getting the U.S. economy back on its feet. Frankly, I'm getting tired of it. It's not that I'm cock-sure that the Fed's post-2008 actions haven't…

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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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