Bank reform demands monetary reform

On Monetary Stability and Monetary Reform

The Goal of Monetary Reform

The essential reason that a 100-percent-reserve gold standard should be the ultimate goal of monetary reform is that it would secure the economic system against the evils both of inflation and of deflation–depression. In addition, it would be consistent with the fundamental moral–political principle of the absence of the initiation of physical force and thus the positive presence of individual ...

Chile's Elites Face Demands for Reform

Monetary Union, Entry Conditions and Economic Reform

This paper models the behaviour of a potential entrant into a monetary union where there is an inflation entry condition. In addition to making a monetary policy decision during a qualifying period, the potential entrant must make a decision about structural reform. The paper shows that the entry condition can have two undesirable effects. First, it can lead to multiple equilibria because infla...

Monetary Reform in an Uncertain Environment

The 20thcentury has produced a rich array ofmonetary experience. The experience can be organized in several different ways. One emphasizes the role ofgold in international monetary arrangements. Early in the century, domestic monies of major trading countries were convertible into gold at a pre-established fixed price, and gold coins circulated. Currently, governments do not set the price of go...