On April 29, the International Monetary Fund published a working paper summarizing the lessons that have been learned for monetary policy from the financial crisis.
On April 28, the Federal Reserve Bank of St. Louis published a study which found that increases in the money supply had little impact in lowering unemployment.
In an April 27 commentary, University of Chicago economist Casey Mulligan said that under current circumstances inflation would do more good than harm.
In an April 20 commentary, University of Chicago economist Casey Mulligan argues that the impact of short-term interest rates on the business sector is much smaller than generally believed.
On April 13, the European Central Bank published a working paper argues that analyses of the money supply are distorted by failing to take account of the fact that some 60 percent of U.S. currency circulates outside the U.S.
On April 12, the Adam Smith Institute published a study by economist Scott Sumner urging central banks to target nominal gross domestic product – rather than interest rates, inflation, unemployment, exchange rates or the money supply – in conducting monetary policy.
On April 11, the Federal Reserve Bank of Chicago published a study analyzing the impact of commodity prices on core inflation. It finds little relationship.
On April 6, the Federal Reserve Bank of New York published a study which concluded that the Fed’s policy of quantitative easing was successful.
In an April 6 commentary, economist John Makin says that the Federal Reserve has reached the limit of what it can do to stimulate growth via monetary policy.
I last posted items on this topic on April 6.
Bruce Bartlett is an American historian and columnist who focuses on the intersection between politics and economics. He blogs daily and writes a weekly column at The Fiscal Times. Bartlett has written for Forbes Magazine and Creators Syndicate, and his work is informed by many years in government, including as a senior policy analyst in the Reagan White House. He is the author of seven books including the New York Times best-seller, Imposter: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy (Doubleday, 2006).
