Acknowledgements -- About the authors -- Introduction / Stephen Balch and Benjamin Powell -- Crisis and government power -- Crisis without leviathan? / Robert Higgs -- The rule of law during times of economic crisis / Todd Zywicki -- Fiscal crisis -- Fiscal crisis as a quality of progressivist...

In the conduct of monetary policy, there exists a risk-return trade-off between financial conditions and financial stability, which complements monetary policy's traditional trade-off between inflation and real activity. The trade-off exists even if monetary policy does not target financial...