Monetary Policy in an Uncertain World

Ten years after the 2008 financial crisis we are again facing the possibility of economic turmoil as the Fed and other central banks exit their unconventional monetary policies. Although central banks will move gradually, unforeseen circumstances could trigger a flight to safety and a collapse of asset prices. Contributors to this volume draw lessons from the decade of unconventional monetary policies and offer proposals for reducing monetary uncertainty, including adopting a rules-based monetary regime.

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James A. Dorn is Vice President for Monetary Studies, Editor of the Cato Journal, Senior Fellow, and Director of Cato’s annual monetary conference. He has written widely on Federal Reserve policy and monetary reform, and is an expert on China’s economic liberalization. He has edited more than ten books, including Monetary Alternatives: Rethinking Government Fiat Money, The Search for Stable Money (with Anna J. Schwartz), The Future of Money in the Information Age, and China in the New Millennium. His articles have appeared in the Wall Street Journal, Financial Times, South China Morning Post, and scholarly journals. He has been a columnist for Caixin and writes for Forbes.com. From 1984 to 1990, he served on the White House Commission on Presidential Scholars. Dorn has been a visiting scholar at the Central European University and Fudan University in Shanghai. He holds a PhD in economics from the University of Virginia.