Profiles

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.

Abstract: This article reviews the analytical justification, the theoretical content, and the practical experience of inflation targeting, which has become the standard framework for monetary policy. It shows that due to the inflation-targeting literature’s neglect for the money demand as part of...

Hayek’s crucial insight that a fundamental banking reform is a prerequisite for monetary reform aiming at international stability is timely today.

This ambitious new book on the foundations of money and monetary institutions is an impressive interdisciplinary exercise.