Category Archives: Money & Banking

Cato Journal: Revisiting Three Intellectual Pillars of Monetary Wisdom

A new issue of the Cato Journal, which collects the proceedings of last year’s Annual Monetary Conference, was released last week.  Those proceedings include a paper by Claudio Borio, head of the Bank for International Settlement’s monetary and economic department, which Alt-M … Continue reading

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Competition in (British) Banking

Writing for FT.com’s “The Exchange” blog, economists Diane Coyle and Jonathan Haskel suggest that Britain’s regulators — namely, the Competition and Markets Authority and the Bank of England — have got it wrong on competition in banking.  The authors argue that “the … Continue reading

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Quantitative Easing: A Requiem

When the Federal Open Market Committee (FOMC) meets in Washington next week, its members are widely expected to vote to raise interest rates for the first time since June 2006. By doing so, they will move towards monetary policy normalization, … Continue reading

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Rethinking Monetary Policy – Cato’s 33rd Annual Monetary Conference

More than two hundred people gathered at the Cato Institute last Thursday for our 33rd Annual Monetary Conference. Over the course of three addresses and four panel discussions, a distinguished cast of speakers — including St. Louis Fed president James Bullard, … Continue reading

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Reforming the Federal Reserve’s Rescue Authority: Warren and Vitter Come to Cato

For all the ink spilled on TARP — the bailout package authorizing the Treasury to purchase or insure up to $700 billion of “troubled assets” during the financial crisis — that program is dwarfed by another market intervention that occurred around … Continue reading

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The Problems with NGDP Targeting

Central banks lack both the power and the knowledge needed to deliver stable growth. Canadian central bank chief Mark Carney, who will become governor of the Bank of England in June, caused a stir on both sides of the Atlantic when … Continue reading

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The return of the recession

So it’s official: Britain has double-dipped. Is anyone really surprised? Of course, today’s number are relatively insignificant in statistical terms, and there is every chance that the Office of National Statistics will revise them a few months down the line. … Continue reading

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