One of the most interesting aspects of US monetary policy since 2008 is that while Ben Bernanke certainly is not ignorant of economic history or monetary theory it seems like the Fed under his leadership has not responded nearly as aggressive to the crisis as one should have expected if one from reading Bernanke’s academic […]
All posts found when searching for free banking
Central bank rituals and legitimacy
Posted by Lars Christensen on April 21, 2012
https://marketmonetarist.com/2012/04/21/central-bank-rituals-and-legitimacy/
Nixon was a crook and Arthur Burns was a failed central banker
Back from my trip to Riga and Stockholm and two books had arrived in the mail from Amazon. The first one “Inside The Nixon Administration – the Secret Diary of Arthur Burns 1969-1974” (Edited by Robert Ferrell, 2010). The second one is Larry White’s “Free Banking in Britain” (yes, dear readers believe it or not […]
Posted by Lars Christensen on April 19, 2012
https://marketmonetarist.com/2012/04/19/nixon-was-a-crook-and-arthur-burns-was-a-failed-central-banker/
NGDP level targeting – the true Free Market alternative (we try again)
Most of the blogging Market Monetarists have their roots in a strong free market tradition and nearly all of us would probably describe ourselves as libertarians or classical liberal economists who believe that economic allocation is best left to market forces. Therefore most of us would also tend to agree with general free market positions […]
Posted by Lars Christensen on July 19, 2012
https://marketmonetarist.com/2012/07/19/the-ngdp-level-targeting-the-true-free-market-alternative-we-try-again/
George Selgin outlines strategy for the privatisation of the money supply
I have earlier argued that NGDP targeting is a effectively emulating the outcome under a perfect Free Banking system and as such NGDP level targeting can be seen as a privatisation strategy. George Selgin has just endorsed this kind of idea in a presentation at the Italian Free Market think tank the Bruno Leoni Institute. […]
Posted by Lars Christensen on February 4, 2012
https://marketmonetarist.com/2012/02/04/george-selgin-outlines-strategy-for-the-privatisation-of-the-money-supply/
“Good E-money” can solve Zimbabwe’s ‘coin problem’
The New York Times reports on the Zimbabwe’s so-called “coin problem”: “When Zimbabweans say they are waiting for change, they are usually talking about politics. After all, the country has had the same leader since 1980. But these days, Robson Madzumbara spends a lot of time quite literally waiting around for change. Pocket change, that is. […]
Posted by Lars Christensen on April 26, 2012
https://marketmonetarist.com/2012/04/26/good-e-money-can-solve-zimbabwes-coin-problem/
The monetary transmission mechanism in a ‘perfect world’
I fundamentally think that what really sets Market Monetarism aside from other macroeconomic schools it how we see the monetary transmission mechanism. I this blog post I will try to describe how I think the monetary transmission mechanism would look like in a ‘perfect world’ and how in such a perfect world the central bank […]
Posted by Lars Christensen on May 19, 2013
https://marketmonetarist.com/2013/05/19/the-monetary-transmission-mechanism-in-a-perfect-world/
Robert E. Keleher R.I.P.
I was saddened by the news that Robert E. Keleher has pasted away on May 27 at an age of 67. Keleher pioneered what he termed the Market Price Approach to Monetary Policy. I my view Keleher’s work on monetary policy clearly was similar to Market Monetarism. Here is Kurt Schuler on Freebanking.org: “Bob’s most […]
Posted by Lars Christensen on June 6, 2012
https://marketmonetarist.com/2012/06/06/robert-e-keleher-r-i-p/
Military dictators are independent as well…
Over the last couple of decades independent central banks have become the norm and it is seen as dangerous if politicians threaten the independence of the central banks. Judging from the short-termism of politicians this in many ways makes perfectly good sense and any modern economist would acknowledge that central bank independence is a good […]
Posted by Lars Christensen on March 28, 2012
https://marketmonetarist.com/2012/03/28/military-dictators-are-independent-as-well/
Selgin on Quasi-Commodity Money (Part 1)
George Selgin just send me his new paper on what he has termed Quasi-Commodity Money. George spoke briefly on this topic in his recent presentation at the Italian Free Market think tank the Bruno Leoni Institute. See my comment here on the presentation and my review on a related paper – “L Street – Selgin’s […]
Posted by Lars Christensen on February 7, 2012
https://marketmonetarist.com/2012/02/07/selgin-on-quasi-commodity-money-part-1/
NGDP level targeting – the true Free Market alternative
Tyler Cown a couple of days ago put out a comment on “Why doesn’t the right-wing favor looser monetary policy?” Tyler has three answers to his own question: 1. There is a widespread belief that inflation helped cause the initial mess (not to mention centuries of other macroeconomic problems, plus the problems from the 1970s, […]
Posted by Lars Christensen on February 22, 2012
https://marketmonetarist.com/2012/02/22/ngdp-level-targeting-the-true-free-market-alternative/
The Market Monetarist- Interview with RIAIntel
- Hetzel on “Learning from the Pandemic Monetary Policy Experiment”
- The Fed is still way behind the curve – what an “implied NGDP level target” is telling us
- The ruble has appreciated exactly BECAUSE the sanctions are working
- Ukrainian default risk drops BELOW Russian default risk
- Russia: From crony capitalism to planned economy in three weeks
- New Paper: Digital cash, the conduct of monetary policy and the monetary transmission mechanism
- New paper: The financial sector, welfare gains and regulaton – A Danish Perspective
- Paper: Financial regulation, demand for ‘safe assets’, and monetary conditions
- 10 years of Market Monetarist thinking
The Market Monetarist 