Monetary Economics
Monetary policy influences inflation, employment, and economic activity. A stable but dynamic monetary system is vital for supporting economic growth, individual liberty, and a prosperous society. Therefore, we examine the causes and consequences of monetary policy (including inflation), identify ideal and practical steps towards a better monetary policy regime, and look at monetary alternatives and financial regulation.
Research Publications for Monetary Economics
TL Hogan
OP-1793,'Principles for Climate-Related Financial Risk Management for Large …, 2023
General Institutional Considerations of Blockchain and Emerging Applications
PC Earle, DM Waugh
The Emerald Handbook on Cryptoassets: Investment Opportunities and …, 2023
Cryptocurrencies, Blockchain, and Public Choice
RM Yonk, D Waugh
Cryptocurrency Concepts, Technology, and Applications, 2023
Cash, crime, and cryptocurrencies
JR Hendrickson, WJ Luther
The Quarterly Review of Economics and Finance 85, 200-207, 2022
TL Hogan
The Review of Austrian Economics, 1-4, 2022
The Value of Bitcoin in the Year 2141 (and beyond!)
JR Hendrickson, WJ Luther
The Economics of Blockchain and Cryptocurrency, 51-68, 2022
Articles
Inflation Declined in March, But Remains High
“Market participants continue to expect the Fed will cut its federal funds rate target this year — just not anytime soon.” ~ William J. Luther
Is Argentine Disinflation Sustainable?
“Milei’s lack of political support in Congress adds to the uncertainty surrounding his ability to successfully pass deregulatory reforms… it is premature to declare victory on the fiscal and inflationary fronts in Argentina.” ~Nicolás Cachanosky
The New Zimbabwean ZiG: Sixth Time a Charm?
“Even the most faithfully implemented commodity-backed money standard is fundamentally predicated on the integrity and competence of its overseers.” ~Peter C. Earle
A Better Model Won’t Fix The Fed
“The whole point of expectations-responsive monetary policy is to remove the discretionary and technocratic elements from central banking. Disappointingly but unsurprisingly, the Fed is doing the opposite: doubling down on discretion and technocracy.” ~Alexander W. Salter
Inflation We Can Feel But Don’t Measure
“Regardless of whether one thinks that the CPI should include interest rates and/or asset prices, it seems clear that consumers factor in these costs when evaluating the cost of living.” ~Joshua R. Hendrickson
How the US Treasury Induced a New Era of Swiss Monetary Policy
“Central bankers are told that their domestic monetary policy obligations…must be balanced with or even subjugated to currency management practices that accommodate American exporters and competitors more broadly.” ~Mariana F. Trujillo and Peter C. Earle