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Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and ...
The article presents a speech by Roger W. Ferguson, Jr., Vice Chairman of the U.S. Federal Reserve Board, delivered April 17, 2006 at the Conference on Modern Financial Institutions, Financial Markets...
The article presents a speech by Jack Guynn, President and CEO of the Federal Reserve Bank of Atlanta delivered to the Kiwanis Club of Atlanta in Atlanta, Georgia on August 22, 2006. He discusses less...
In recent decades the central banks in Taiwan and Thailand--the Central Bank of China and the Bank of Thailand--have experienced contrasting changes in their respective status within the hierarchy of ...
An orthodox currency board (CB) renders central banking redundant for interest and exchange rate determination. Thereby, monetary policy is de facto outsourced. Foreign direct investment (FDI) in bank...
Recent studies on institutional theory and the public policy field called for efforts to pry open the black box of institutional and policy change. This article offers a response to this call. It demo...
The Committee on International Economic and Policy Reform is a non-partisan, independent group of experts, comprised of academics and former government and central bank officials. Its objective is to ...
This paper examines central banking in general and the Federal Reserve system in particular from the perspective of the theory of public choice. It is common to rationalize central banking as being ...
What is commonly called “money” can be held in either of two forms. There are deposits, from which payments can be made by check, and currency or hand-to-hand money. Even though the total demand fo...
The Great Monetary Paradox Most conventional economists are very much aware of markets. Indeed, a sound understanding of the function of markets and prices is what distinguishes economists from eve...

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