In a free market economy from which fiduciary media are excluded, economic progress will be limited, perhaps severely, by the high cost and correspondingly limited supply of small-denomination money
This article presents two alternative interpretations of the role of banks in the monetary transmission process. The interpretation based on the work of Mises, Hayek, and Rothbard leads to the conclusion that central banking and monetary policy are "generators of the business cycle." The other interpretation presents a Keynesian theory minus the liquidity preference theory of the rate of interest.
This paper discusses Ludwig von Mises's proposals for monetary reform. We will largely focus on technical aspects--the concrete practical steps he recommended
An excellent summary of the recent mainstream debates on the role of a central bank and the conduct of monetary policy and provides a framework for monetary policy that ignores all the lessons
We explore several unaddressed issues in George Selgin’s (1988) claim that the best monetary system to maintain monetary equilibrium is a fractional reserve free banking one.
This article contains two parts that correspond to the two main fields of monetary theory.
In the last twenty years, continual financial innovation has led to the increased use of MMMFs as a substitute for checkable deposits. While many technical considerations suggest that it
In this article it will be argued that collective corruption - which is the logical result of government interventionism in the field of money production
The recently edited Festschrift in honor of Pascal Salin is a highly varied and disparate collection of contributions by colleagues, admir
