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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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dual mandate

Nominal GDP, Inflation Target, Monetary Policy, Fed, Dual Mandate
Economic Thought, Inflation & Deflation, News, The Fed & Central Banks

Lars Svensson on NGDP Targeting

George Selgin/October 15, 2019June 19, 2022

Back in July, I shared here some thoughts concerning the Fed's conference in Chicago that month, which was dedicated to a review of its tools, strategies, and communications. Among other things, I said I was disappointed by the short-shrift given to NGDP targeting by Lars Svensson's paper…

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Bill Niskanen, dual mandate, lender of last resort, monetary policy, Phillips Curve
Inflation & Deflation, Money & Politics, The Fed & Central Banks

Bill Niskanen: Monetary Policy Radical

George Selgin/December 21, 2017June 19, 2022

Several days ago a colleague of mine, referring to the Niskanen Center's recent conspectus, wondered whether Bill Niskanen, the former Chairman of the Cato Institute after whom the Niskanen Center is named, would have agreed with a claim it made. The claim was that promoting sound monetary…

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dual mandate, FOMC, labor force participation, Phillips Curve, Unemployment
Money & Politics, News, The Fed & Central Banks

The Jobs Conundrum

Gerald P O'Driscoll/June 8, 2017June 19, 2022

At next week’s FOMC meeting, the state of the labor market will play a key role in policy deliberations. But there’s a lot more going on underneath top line unemployment numbers that make them a bad tool for monetary policy decision-making. The May employment report is a…

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iat money, alternatives, james dorn, george selgin, john taylor
Economic Thought, Fiat Money, Recommended Reading

Looking for Alternatives to Government Fiat Money?

James Dorn/March 31, 2017June 19, 2022

The Cato Institute recently released Monetary Alternatives: Rethinking Government Fiat Money, a collection of essays 30 years in the making. As George Selgin explains in the foreword, The complacency wrought by the Great Moderation, not to mention the limited interest in fundamental monetary reform before then, resulted…

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bank lending, dual mandate, FOMC, interest on reserves, unconventional monetary policy
Money & Politics, News, The Fed & Central Banks

Does Monetary Policy Have a Future?

Gerald P O'Driscoll/November 2, 2016June 19, 2022

I have chosen a provocative title, but it is fully justified. Fed officials are flying on autopilot, but the controls don’t work anymore, or at least not reliably. Fed watchers are largely clueless. The investment community and the economy may be collateral damage. Let me begin by…

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Contributors

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Recent Posts

  • The New Deal and Recovery, Part 27: Deposit Insurance
  • The New Deal and Recovery, Part 26: The RFC, Conclusion
  • The New Deal and Recovery, Part 25: The RFC, Continued
  • The New Deal and Recovery, Part 24: The RFC
  • The New Deal and Recovery, Part 23: The Great Rapprochement
  • The New Deal and Recovery, Part 22: Postwar Monetary Policy
  • Diamond and Dybvig and the Panic of 1907

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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