- “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
Paul Romer becoming chief economist at the World Bank looks quite promising for economic development.
Today’s very low money multiplier values mean that commercial banks have ceased to contribute as they once did to the productive employment of scarce savings.
The director of the Consumer Financial Protection Bureau can’t retroactively ratify enforcement actions he took when he lacked the authority to do so.
Lowenstein appears not to have entertained the slightest doubt that the Federal Reserve Act, for all the political maneuvering that led to it, was the best of all possible means for ending this nation’s periodic financial crises.
It approaches incoherence to suppose that real interest rates have approximately reached long-run equilibrium in intertemporal markets, and simultaneously that the level of prices has not yet approximately reached long-run equilibrium in the spot market where money balances exchange against goods.
July 15, 2016
July 12, 2016
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June 20, 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.
By George Selgin. Policy Analysis No. 793. June 21, 2016.
By Ryan Murphy and Alex Nowrasteh. Working Paper No. 37. February 16, 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.
Finance is about the future. A strong financial system frees us from the constraints of time, protects us from uncertainties that lie ahead, and enables us to build a prosperous tomorrow. Please join a distinguished group of speakers at this special Cato Institute summit as they examine the current state of financial regulation and offer proposals for better connecting households and businesses to their preferred future.
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.