Center for Monetary and Financial Alternatives

The Center for Monetary and Financial Alternatives is dedicated to revealing the shortcomings of today’s centralized, bureaucratic, and discretionary monetary and financial-regulatory systems and to identifying, studying, and promoting alternatives more conducive to a stable, flourishing, and free society. The Center brings together unparalleled expertise with an Executive Advisory Council made up of financial experts, an Academic Advisory Council that includes many of the world’s leading monetary economists, and multiple scholar affiliates as adjuncts, senior fellows, and full-time experts at Cato. The Center engages with policymakers, academics, students, and the public through original research, public policy analysis, educational events, multimedia resources, and its blog,

Executive Advisory Council

  • John A. Allison, Former President and CEO, Cato Institute, former Chairman and CEO, BB&T Corporation, and Chair, Executive Advisory Council, Center for Monetary and Financial Alternatives
  • Sean Fieler,  President of Equinox Partners, L.P. and the Kuroto Fund, L.P
  • Robert Gelfond, CEO and Founder, MQS Management
  • James Grant, Founder and Editor, Grant’s Interest Rate Observer
  • Richard Kovacevich, Chairman Emeritus, Wells Fargo and Co.
  • Robert L. Luddy,  Founder and CEO, CaptiveAire
  • George Melloan,  Former Deputy Editor, Wall Street Journal
  • Judy Shelton, Co-Director, Sound Money Project, Atlas Network
  • Jeffrey S. Yass, Managing Director, Susquehanna International Group

Council of Academic Advisors

  • Leszek Balcerowicz,  Professor of Economics, College of Europe; former Chairman of the National Bank of Poland, and former Finance Minister and Deputy Prime Minister
  • Guillermo Calvo, Professor of Economics and Director of the Program in Economic Policy Management, Columbia University
  • Kenneth French,  Carl E. and Catherine M. Heidt Professor of Finance, Tuck School of Business, Dartmouth College
  • Edward J. Kane, Professor of Finance, Boston College
  • George Kaufman, John F. Smith Jr. Professor of Finance and Economics, Loyola University Chicago
  • David Laidler, Professor of Economics (Emeritus), University of Western Ontario
  • Bennett T. McCallum, H. J. Heinz Professor of Economics, Carnegie Mellon University
  • Vernon L. Smith, Nobel Laureate (Economics) and Professor of Economics, Chapman University
  • John B. Taylor, Mary and Robert Raymond Professor of Economics, Stanford University
  • Richard H. Timberlake, Professor Emeritus (Economics), University of Georgia
  • William R. White, Chairman, Economic Development and Review Committee, OECD  (Paris); former Economic Adviser and Head of the Monetary and Economic Department, Bank for International Settlements
  • Geoffrey Wood, Professor of Monetary Economics (Emeritus), University of Buckingham
  • Randall Wright, Ray Zemon Professor of Liquid Assets and Professor of Economics, University of Wisconsin-Madison
  • Leland B. Yeager, Professor Emeritus (Economics), Auburn University and University of Virginia

Of Special Note

A Walk Through the JOBS Act of 2012: Deregulation in the Wake of Financial Crisis

A Walk Through the JOBS Act of 2012: Deregulation in the Wake of Financial Crisis

In 2011, on the heels of the Dodd-Frank Act, Congress unexpectedly passed legislation that rolled back financial regulations. The legislation, the Jumpstart Our Business Start-ups Act, or JOBS Act of 2012, aims to help small businesses access capital by lowering barriers in several areas of the securities laws. While larger businesses can turn to capital markets to raise funds, small businesses rely more on community banks, which have been disappearing. Yet, although the JOBS Act has taken important strides toward beneficial deregulation, more work remains to be done.

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2016 Hayek Lecture

George Selgin gave the Institute of Economic Affairs 2016 Hayek Lecture, discussing the history of free banking systems that achieved financial and price stability.


Educational Programs

EconTalk LIVE: David Beckworth on Monetary Policy and the Great Recession

The Cato Institute’s Center for Monetary and Financial Alternatives is pleased to announce another installment of its “live” edition of EconTalk. Join Russ Roberts as he interviews David Beckworth on the part that the Federal Reserve and other central banks played (and the part they ought to have played) in the Great Recession.

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Monetary Rules for a Post-Crisis World

Monetary Rules for a Post-Crisis World

Central banks’ part in the Great Recession, and the lackluster recovery since, are reviving interest in monetary rules and raising crucial questions. Could the Fed have performed better if they had adhered to a monetary rule? Could rules have avoided the financial crisis, or future ones? If so, which rules work best? The Cato Institute’s Center for Monetary and Financial Alternatives will team up with the Mercatus Center at George Mason University to host a day-long academic conference exploring these pressing questions about monetary policy rules for a post-crisis world.