All Articles tagged central bank

• Book Reviews
  July 06, 2023 CDT
  Book Review: A Guide to Good Money: Beyond the Illusions of Asset Inflation
  Joseph Solis-Mullen

  An excellent primer for those who wish understand the opacities of modern money, Brown and Pringle's new book also suggests monetary reforms, including a gold standard. Review by Joseph Solis-Mullen.

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• Book Reviews
  September 01, 2022 CDT
  Book Review: The Fed Unbound: Central Banking in a Time of Crisis
  Joseph Solis-Mullen

  Joseph Solis-Mullen reviews Lev Menand's new book that, as Solis-Mullen says, "confirms everything Austrians have been saying all along."

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• Articles
  July 15, 2022 CDT
  The United States’ First Business Cycle: An Austrian Interpretation of the Panic of 1797
  Nicholas CurottTyler A. Watts

  The First Bank of the United States induced credit expansion, inflation, speculative overinvestment, external specie drain, and finally, a recession in 1797, all consistent with Austrian business cycle theory.

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• Articles
  June 03, 2022 CDT
  Hazlitt, Hayek, and How the Fed Made Itself into the World’s Biggest Savings and Loan
  Alex Pollock

  Alex Pollock's Henry Hazlitt Memorial Lecture, given at the 2022 Austrian Economics Research Conference, surveys the Fed's foray into mortgage markets. As Hazlitt said, "the ardor for inflation never dies."

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• Book Reviews
  January 10, 2022 CDT
  Book Review: Money and the Rule of Law: Generality and Predictability in Monetary Institutions
  Peter C. Earle

  Peter Earle reviews Boettke, Salter, and Smith's argument that the rule of law should be brought to bear on the Federal Reserve, to rein in its distortions and disruptions.

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• Book Reviews
  August 05, 2021 CDT
  Book Review: Monetary Policy after the Great Recession: The Role of Interest Rates
  Nikolay Gertchev

  Nikolay Gertchev reviews Arkadiusz Sieron's effort to investigate the failure of expansionary monetary policy to address the challenges of the 2008-09 Great Recession.

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• Articles
  April 15, 2021 CDT
  Measuring the Quality of Money
  Vytautas Žukauskas

  Vytautas Žukauskas shows that the demand for money depends on its quality, and develops an empirical composite indicator that measures the quality of money in the eurozone.

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• Articles
  April 15, 2021 CDT
  The Illusions of Inflation Targeting, with an Application to Ukraine
  Nikolay Gertchev

  Nikolay Gertchev shows that the inflation-targeting literature provides an illusionary vision of what a modern central bank can achieve. The monetary history of Ukraine illustrates the pitfalls of inflation targeting.

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• Book Reviews
  May 20, 2020 CDT
  Book Review: “The Economists’ Hour: False Prophets, Free Markets, and the Fracture of Society”
  David Gordon

  David Gordon reviews Binyamin Appelbaum's "The Economists' Hour," in which Applebaum argues that manipulable consumers are competent to select wise leaders, and blames the market for the failures of government.

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• Book Reviews
  May 20, 2020 CDT
  Book Review: “Banking and Monetary Policy from the Perspective of Austrian Economics”
  Joseph Salerno

  Joseph Salerno reviews Godart-van der Kroon and Vonlanthen's indispensable book on monetary economics from an explicitly Austrian perspective.

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• Notes and Replies
  March 21, 2020 CDT
  A Note on Some Recent Misinterpretations of the Cantillon Effect
  Arkadiusz Sieroń

  Sieroń comments on Book and Sumner regarding the Cantillon effect, arguing that the Austrian analysis of the Cantillon effect is correct.

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• Book Reviews
  March 21, 2020 CDT
  Book Review: “The Bitcoin Standard: The Decentralized Alternative to Central Banking”
  Kristoffer Hansen

  Kristoffer Hansen reviews Saifedean Ammous' "The Bitcoin Standard" and is pleased to find a rarity: a reasonable treatment of bitcoin from the point of view of Austrian economics.

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• Articles
  December 31, 2019 CDT
  Interest Rates, Roundaboutness, and Business Cycles: An Empirical Study
  Mark Gertsen

  Can policy-induced deviations from the natural rate of interest increase roundaboutness in production? Mark Gertsen studies 28 developed economies using an ARDL model, and finds Austrian boom-bust dynamics.

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• Articles
  December 31, 2019 CDT
  Negative Inflation Targeting: A Proposal of a Non-Distortionary Monetary Policy
  Tomáš Frömmel

  Tomáš Frömmel contends that a negative inflation target combined with the Taylor Rule can be a non-distortionary monetary policy consistent with Austrian business cycle theory.

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• Articles
  December 31, 2019 CDT
  Over the Cliff: How Brazil’s 2004–2016 Business Cycle Became Its Worst Recession in a Century
  Henrique MaiaDale SteinreichBruno Saboia de Albuquerque

  Brazil's most severe recession in over a century, which lasted over two years and saw unemployment of nearly 12 percent, offers empirical support for the Austrian business cycle theory.

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• Book Reviews
  December 31, 2019 CDT
  Book Review: Money, Inflation, and Business Cycles: The Cantillon Effect and the Economy
  Mark Thornton

  Mark Thornton reviews Arkadiusz Sieroń's important new book on the Cantillon Effect, which indicates that the effect of new money on the economy depends on where it is injected.

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