Recently added articles from The Cato Journal:
Editor's note.(Editorial)
Mar 22, 2008; Dorn, J. A. ... This issue of the Cato Journal features articles that were first presented at the Cato Institute's 25th Annual Monetary Conference, November 14, 2007. The theme of that conference--Monetary Arrangements in the 21st Century--raises important questions about the types of monetary regimes ...
The Fed's road toward greater transparency.
Mar 22, 2008; Bernanke, Ben S. ... The more fully the public understands what the function of the Federal Reserve System is, and on what grounds its policies and actions are based, the simpler and easier will be the problems of credit administration in the U.S. --Federal Reserve Board, Annual Report, 1923 (p. 38) ...
The role of the renminbi in the world economy.
Mar 22, 2008; Hu, Fred ... As China's economy has continued its remarkable expansion and gained an increasingly important role in the global economy, China's currency, the renminbi (RMB), has also captured growing attention from investors and policymakers around the world. In this article, I briefly discuss three ...
The case for price stability with a flexible exchange rate in the New Neoclassical Synthesis.(Report)
Mar 22, 2008; Goodfriend, Marvin ... The New Neoclassical Synthesis is a natural starting point for the consideration of welfare-maximizing monetary arrangements in the international context. Alternatively known as the New Keynesian model, this consensus model of monetary policy deserves our attention because it embodies ...
Monetary policy and the legacy of Milton Friedman.
Mar 22, 2008; Schwartz, Anna J. ... So many well-deserved tributes have been paid to the memory of Milton Friedman that I propose to pay him tribute in a special way by talking about my long association with him. Before I do so, I note his activities before the 1950s, when we started working together. For the record, ...
Milton Friedman and the Euro.(Report)
Mar 22, 2008; Martino, Antonio ... Milton Friedman did not like the euro. In early 1999 I wrote to him mentioning my daughter Erika's thesis and, in a letter dated March 127 1999, he wrote back: <Pre>Erika's thesis on "The Euro and the Dollar" is one of the subjectsI have been maintaining a real interest ...
Milton Friedman and the case against currency monopoly.(Report)
Mar 22, 2008; Selgin, George ... A longstanding tradition in economics, dating back at least to Adam Smith, looks askance at statutory monopolies, condemning almost all of them as unnecessary barriers to economic progress. Thanks largely to this tradition most of the monopolies present in Smith's day are no longer ...
The federal reserve's role in the great contraction and the subprime crisis.(Report)
Mar 22, 2008; Timberlake, Richard H. ... Milton Friedman liked to recall that his experience with the Great Depression as a young man living in New York had a major effect on his career decision to study economics. So, we can count at least one good thing that came out of that tragic, unnecessary experience. I had ...
Economic development and the role of currency undervaluation.(Report)
Mar 22, 2008; Bhalla, Surjit S. ... This article is concerned with the determinants of economic growth, and, in particular, with the role of policy in directing the pattern of growth in developing economies. Over the years, economists and policymakers have focused primarily on fiscal and exchange rate policy. While the role ...
Freedom from Want: American Liberalism and the Global Economy.
Mar 22, 2008; Griswold, Daniel ... Freedom from Want: American Liberalism and the Global Economy Edward Gresser Brooklyn, N.Y.: Soft Skull Press, 2007, 230 pp. Trade policy has become a partisan affair in Washington. Major trade bills in Congress typically pit pro-trade Republicans backed by big business against ...
The Cult of Statistical Significance: How the Standard Error Costs Us Jobs, Justice, and Lives.
Mar 22, 2008; Van Doren, Peter ... The Cult of Statistical Significance: How the Standard Error Costs Us Jobs, Justice, and Lives Stephen T. Ziliak and Deirdre N. McCloskey Ann Arbor, Mich.: University of Michigan Press, 2008, 3,52 pp. How do many scientific disciplines estimate and report results? Practitioners ...
My Grandfather's Son.(Supreme Discomfort: The Divided Soul of Clarence Thomas)(Book review)
Mar 22, 2008; Shapiro, Ilya ... My Grandfather's Son Clarence Thomas New York: HarperCollins, 2007, 289 pp. Supreme Discomfort: The Divided Soul of Clarence Thomas Kevin Merida and Michael A. Fletcher New York: Doubleday, 2008, 422 pp. Whatever you think of his politics or jurisprudence, Clarence ...
Rumsfeld's Wars: The Arrogance of Power.(Book review)
Mar 22, 2008; Popescu, Ionut ... Rumsfeld's Wars: The Arrogance of Power Dale R. Herspring Lawrence, Kans.: University Press of Kansas, 2008, 247 pp. Donald Rumsfeld will go down in history as one of the worst secretaries of defense since the end of World War II. This is the conclusion reached by Dale ...
World War IV: The Long Struggle against Islamofascism.(Book review)
Mar 22, 2008; Preble, Christopher ... World War IV: The Long Struggle against Islamofascism Norman Podhoretz New York: Doubleday, 2007, 230 pp. "9/11 constituted an open declaration of war on the United States and ... the war into which it catapulted us was nothing less than another world war." So says Norman ...