The Cato Institute is a non-profit public policy research foundation headquartered in Washington, D.C. The Institute is named for Cato's Letters, a series of libertarian pamphlets that helped lay the philosophical foundation for the American Revolution.
The Cato Institute seeks to broaden the parameters of public policy debate to allow consideration of the traditional American principles of limited government, individual liberty, free markets and peace. Toward that goal, the Institute strives to achieve greater involvement of the intelligent, concerned lay public in questions of policy and the proper role of government.
The Fiscal Commission's Omission by Tad DeHaven
President Barack Obama’s National Commission on Fiscal Responsibility and Reform was given the seemingly impossible task of crafting a budgetary blueprint to head off the country’s looming debt…
Folding the Fed by Richard W. Rahn
If you are building a fence and you try using a hammer rather than a shovel to dig the postholes, progress will be slow if not nonexistent. The Federal Reserve is supposed to maintain the value of…
Mon
Sep
28
Agreements and Disagreements
The discussion seems to be careening into ever more technical issues, with George Selgin now invoking “Calvo-pricing probability parameters” and “Ramsay-optimal monetary policy.” Although I find this…
Yes, the Lags Are Long and Variable
I agree with Sumner that the Fed has the ability to create hyperinflation. The questions are how long it would take for this to happen and by which mechanism it would transpire. The mechanism I have…
Taxing Banks for Holding Reserves
In his first reply to the three of us, Scott Sumner asked: “Does anyone have any thoughts on my proposal to charge a negative interest rate on excess reserves as a way of reducing the hoarding of…
Score-Keeping with Selgin
George, every time I read your arguments it makes me want to chop a few more tenths of a percent off my proposed NGDP growth target. This was no exception. However I am still not completely convinced…
