[![Media Name: cj-v36n2-cover.jpg](/sites/cato.org/files/styles/serial_cover_phone/public/serials/covers/cj-v36n2-cover.jpg?itok=tatVcz8Q)](https://www.cato.org/sites/cato.org/files/serials/files/cato-journal/2016/5/cj-v36n2-full.pdf) 

# Spring/​Summer 2016 

Vol. 36 No. 2 

Edited by [James A. Dorn](https://www.cato.org/people/james-dorn) 

[ 

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## Rethinking Monetary Policy 

##### Articles 

#### [Editor’s Note ](/cato-journal/spring/summer-2016/editors-note)

By [James A. Dorn](https://www.cato.org/people/james-dorn) 

#### [Revisiting Three Intellectual Pillars of Monetary Policy ](/cato-journal/spring/summer-2016/revisiting-three-intellectual-pillars-monetary-policy)

By Claudio Borio 

#### [Rethinking the International Monetary System ](/cato-journal/spring/summer-2016/rethinking-international-monetary-system)

By John B. Taylor 

#### [Commitment, Rules, and Discretion ](/cato-journal/spring/summer-2016/commitment-rules-discretion)

By Charles I. Plosser 

#### [What Monetary Policy Can Do ](/cato-journal/spring/summer-2016/what-monetary-policy-can-do)

By Jeffrey M. Lacker 

#### [The Powers and Limits of Monetary Policy ](/cato-journal/spring/summer-2016/powers-limits-monetary-policy)

By Manuel Sanchez 

#### [Real and Pseudo Monetary Rules ](/cato-journal/spring/summer-2016/real-pseudo-monetary-rules)

By [George Selgin](https://www.cato.org/people/george-selgin) 

#### [Friedman and the Bernanke-Taylor Debate on Rules versus Constrained Discretion ](/cato-journal/spring/summer-2016/friedman-bernanke-taylor-debate-rules-versus-constrained-discretion)

By Harris Dellas and George S. Tavlas 

#### [Nudging the Fed Toward a Rules-Based Policy Regime ](/cato-journal/spring/summer-2016/nudging-fed-toward-rules-based-policy-regime)

By Scott Sumner 

#### [Monetary Policy and the Knowledge Problem ](/cato-journal/spring/summer-2016/monetary-policy-knowledge-problem)

By Gerald P. O’Driscoll Jr. 

#### [Needed: A Federal Reserve Exit from Preferential Credit Allocation ](/cato-journal/spring/summer-2016/needed-federal-reserve-exit-preferential-credit-allocation)

By [Lawrence H. White](https://www.cato.org/people/lawrence-white) 

#### [The New Monetary Framework ](/cato-journal/spring/summer-2016/new-monetary-framework)

By [Jerry L. Jordan](https://www.cato.org/people/jerry-jordan) 

#### [Does the Federal Reserve Know What It’s Doing? ](/cato-journal/spring/summer-2016/does-federal-reserve-know-what-its-doing)

By Alex Pollock 

#### [Learning the Right Lessons from the Financial Crisis ](/cato-journal/spring/summer-2016/learning-right-lessons-financial-crisis)

By [Kevin Dowd](https://www.cato.org/people/kevin-dowd) and Martin Hutchinson 

#### [Permazero ](/cato-journal/spring/summer-2016/permazero)

By James Bullard 

##### Book Reviews 

##### [*Relic: How Our Constitution Undermines Effective Government— and Why We Need a More Powerful Presidency* by William G. Howell and Terry M. Moe](/cato-journal/spring/summer-2016/relic-how-our-constitution-undermines-effective-government-why-we)

By F. H. Buckley 

##### [*Frank: A Life in Politics from the Great Society to Same-Sex Marriage* by Barney Frank](/cato-journal/spring/summer-2016/frank-life-politics-great-society-same-sex-marriage-barney-frank)

By [Mark A. Calabria](https://www.cato.org/people/mark-calabria) 

##### [*The Tragedy of European Civilization: Towards an Intellectual History of the Twentieth Century* by Harry Redner](/cato-journal/spring/summer-2016/tragedy-european-civilization-towards-intellectual-history)

By Juliana Geran Pilon 

##### [*Private Governance: Creating Order in Economic and Social Life* by Edward P. Stringham](/cato-journal/spring/summer-2016/private-governance-creating-order-economic-social-life-edward-p)

By Alain Marciano 

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