Central Banking

In Search of the Monetary Standard

Central banks create the monetary standard. Standard Federal Reserve System (Fed) rhetoric is that the Federal Open Market Committee (FOMC) pursues the...

The Future of Money: The Case for Central Bank Digital Currencies

"Money as we know it stands at the threshold of yet another major transformation in its long and storied history," writes Eswar...

Constitutional Limits to Independent Agencies and Central Banks: A Mini-Course With Paul Tucker (Part 2)

The Federal Reserve and the ECB have been taking unprecedented steps to react to the financial impact of Covid-19. To frame the debate around the...

LATEST NEWS

Elections Hinder Companies’ Access to Credit

A large body of literature has produced uncertain conclusions about how elections affect firms’ access to credit. In a wide-ranging analysis of...

How Financial Contracting Could Help the Police Force Manage Its Aims More Effectively

Hamid Mehran proposes funded deferred pay, an incentive structure to mitigate the risk and costs of police misconduct.

Event Notes: “China’s Political Economy” in Review

The Stigler Center's "China Political Economy" webinar series returns Thursday, February 9. Here's a reminder of what we covered in our first...

To Build an Equitable Economy, We Must Understand Capitalism’s Racist Heritage

American capitalism was built on racial exploitation, from the enslavement of Black people to institutionalized discrimination and its structural impact on our...

How To Ensure Industrial Policy Promotes Public Over Private Gain

Industrial policy was once so out of fashion that it was jokingly called “the policy that shall not be named.” Now it’s...