The strength of the Federal Reserve's commitment to low inflation is truly a milestone in the history of U.S. monetary policy. Using advances in monetary economics, the Fed has been able to identify policy mistakes that led to high and volatile inflation in the past. Learning from experience,...

This paper is intended as a positive analysis of temporary government policy actions under a gold standard. To understand a gold standard is to understand the private valuation of money and gold as assets, and how their asset values can be influenced by government money and gold policy actions...