Monetary Policy

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Analysis and Commentary

All That Glitters Is Not Gold

by John H. Cochrane via Grumpy Economist
Thursday, July 18, 2019

I wrote a Wall Street Journal Oped on the gold standard, partly in response to last week's Oped by James Grant (whose "PhD standard" is a great quip) and Greg Yp's excellent column on Judy Shelton and gold.

Featured

Forget The Gold Standard And Make The Dollar Stable Again

by John H. Cochrane via The Wall Street Journal
Wednesday, July 17, 2019

[Subscription Required] Precious metals no longer make sense as a store of value. Instead, peg money to goods and services.

Featured

How Good Or Bad Is The Budget Decision To Issue Foreign Currency Debt?

by Raghuram Rajanvia Economic Times (India)
Saturday, July 13, 2019

India wants to internationalise rupee eventually – to make it a currency other countries will use. 

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Understanding Monetary Policy With John B. Taylor

by John B. Taylorvia PolicyEd
Tuesday, July 2, 2019

Monetary policy plays a critical role in the economy. Central banks use monetary policy to promote robust economic growth and to stabilize the economy when growth is uneven. The independence of central banks allows them to make difficult decisions in the face of political pressure. Understanding monetary policy can help us avoid future recessions or financial crises.

Featured

Why GDP Still Matters

by Bjorn Lomborgvia Project Syndicate
Thursday, June 20, 2019

New Zealand’s focus on wellbeing, rather than GDP, may have the best of intentions. But if GDP does not increase, the government will have less money for its grand schemes. And compared to what it could have had, the country will have less overall wellbeing, worse environmental performance, and weaker human capital.

Golden Gate Bridge in San Francisco, California
Analysis and Commentary

Ominous News From The San Francisco Fed

by David R. Hendersonvia EconLog
Tuesday, June 18, 2019

And you thought the Fed was just about monetary policy. The Federal Reserve Bank of San Francisco wants banks to get extra credit for making loans that help communities adapt to climate change and prepare for future natural disasters.

After Unconventional Monetary Policy

interview with John B. Taylorvia Joint Economic Committee of Congress
Wednesday, March 26, 2014

Hoover Institution fellow John Taylor testified before the Joint Economic Committee of Congress, on March 26, 2014.

Reform of the International Monetary System: Why and How?

by John B. Taylorvia Books by Hoover Fellows
Tuesday, April 30, 2019

An argument that a rules-based reform of the international monetary system, achieved by applying basic economic theory, would improve economic performance.

Analysis and Commentary

Hummel On Understanding Monetary Policy

by David R. Hendersonvia EconLog
Saturday, June 15, 2019

San Jose State University economics professor Jeff Hummel recently wrote a former student to answer a question about how to follow and understand the details of monetary policy. I found it so insightful that I got his permission to post it. I liked the personal reminiscence and the insights in the last paragraph. Here it is.

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Economic Policy Working Group

 
The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple