Monetary policy

2026 marks the fiftieth anniversary of University of Chicago professor Milton Friedman’s Nobel Memorial Prize in Economic Sciences. Michael D Bordo reflects on how Milton Friedman’s legacy has developed in this time. While Friedman’s revolutionary idea of monetarism has been superseded in some ways, his contributions have played a key role in the evolution of monetary policy and remain critical to contemporary macroeconomic research and central bank policy.

The European Union can pursue financial sovereignty through the digital euro, but sovereignty over money doesn't mean sovereignty over the markets that form around it, writes Jeff Alvares.

In a new paper, Sebastian Edwards details the numerous and varied contributions of University of Chicago faculty to exchange rates and monetary policy from 1892 to 1992.

Social trust in democratic institutions affects the ability of those institutions to carry out policy. In new research, Rustam Jamilov shows how decreasing trust in the U.S. institutions has reduced the ability of the Federal Reserve to influence the economy in states that exhibit lower levels of trust.

In this Q&A about his new book for ProMarket, Paul Tucker explains the changing global order and the need for academics, policymakers and the...

At a recent Centre for Economic Policy Research (CEPR) event, panelists, including the Stigler Center's own Luigi Zingales, reflected on the roles antitrust enforcement...

Four powerful forces—cryptocurrencies, the decoupling of geographical and monetary boundaries, ad-based digital platforms’ foray into the world of payments, and the value of data—are...

In the years leading up to the pandemic, rising inequality created a saving glut of the rich which pushed down interest rates and fueled...

Ten years after Lehman Brothers’ failure, Schumpeter’s analysis of the Great Depression and his warnings to posterity are as timely as they are prophetic,...