Bank Run

Has any theoretical work on banking been more influential than Douglas Diamond and Phillip Dybvig's 1983 JPE article, "Bank Runs, Deposit Insurance, and Liquidity"? If so, I can't think of it. With well over 12,000 Google citations and counting, it's certainly among the most cited academic papers…

FDR and the value of the dollar.

"In 1934, the government price of gold was increased to $35 per ounce, effectively increasing the gold on the Federal Reserve's balance sheets by 69 percent. This increase in assets allowed the Federal Reserve to further inflate the money supply." ("FDR takes United States off gold standard,"…

Vice Chair Clarida holds the Cato Journal

Cato's Annual Monetary Conference last November hosted a "shadow review" of the Federal Reserve's own self-review, dedicated to examining "whether the U.S. monetary policy framework can be improved to meet future challenges." The articles in the spring/summer 2020 issue of the Cato Journal, drawn from that conference,…