Monetary Policy

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Rahim Taghizadegan

Fekete was one of the few old Europeans to recognize the central role of money: on the positive side as a means of amicable division of labor, on the negative side as a casualty and lever of political intervention.

Kristoffer Mousten Hansen

The economic analysis of repudiation applies to the debt of all levels of government and to all countries. The central question is not how big the government is or how much it owes, but rather whether the debt is funded by taxes.

Kristoffer Mousten Hansen

What would it mean for the economy if by one fell swoop not just the debt owed to the central bank, but all of it disappeared?

Kristoffer Mousten Hansen

Let us begin with what CBDCs definitely are not: they are not a new kind of cryptocurrency akin to bitcoin.

Gunther Schnabl Taiki Murai

The Japanese experience offers valuable lessons for the US and Europe. A loose monetary policy can stabilize a recession for the short term, but a persistent flood of cheap money paralyzes productivity gains and growth.

Frank Shostak

What matters is not whether the emergence of a bubble is associated with price rises but rather the fact that the emergence of a bubble gives rise to nonproductive bubble activities.