I consider recent proposals that the government should attempt to stabilize the nominal value of a CPI futures contract. Under a variety of conditions arbitrageurs will break the peg and bankrupt the central bank, the central bank ends up in a gaming problem with private traders, or the regime...

Economic Welfare presents an important collection of leading writings in the fields of policy evaluation. The volume focuses on the conceptual issues behind welfare economics, drawing upon contributions from economics, moral philosophy and social philosophy. The selected readings are designed to...

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