- “New York’s Bank: The National Monetary Commission and the Founding of the Fed,” by George Selgin
- “A Walk Through the JOBS Act of 2012,” by Thaya Brook Knight
Continuing to rely on the Fed’s flawed model to determine policy would be foolish.
We hope the court decides that federal agencies, like everyone else, must consider the costs of their actions.
There are two versions of the fiscal theory of the price level (FTPL); one true, the other false.
With the particular aim of discovering the best means for supplying last-resort credit when it’s called for, and for not supplying it when it isn’t, I’ve reached a number of tentative conclusions that seem worth reporting.
August 22, 2016
August 9, 2016
August 2, 2016
July 26, 2016
By Finn E. Kydland and Carlos E. J. M. Zarazaga. Research Briefs in Economic Policy No. 58. August 17, 2016.
By Ryan Murphy and Alex Nowrasteh. Working Paper No. 37. August 9, 2016.
By Tyler Goodspeed. Research Briefs in Economic Policy No. 55. July 6, 2016.
By Robert Clifford and Daniel Shoag. Research Briefs in Economic Policy No. 54. June 22, 2016.
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.
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.
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.
In a new paper, Cato scholar George Selgin reviews the origins, organization, and shortcomings of the National Monetary Commission, convened over a century ago, in order to suggest how a new Centennial Monetary Commission might improve upon it.