This article addresses some of the recent proposals for the conduct of monetary policies in the post-bubble environment. Advocacy of higher inflation targets is analyzed, and the challenge of maintaining monetary discipline in the face of massive fiscal deficits and mounting government debts is...

What implications do 21st century monetary innovations bring for holdings of central bank money and standards of value? Emerging technologies such as cybercash, e-cash, and smart cards can be expected to reduce demand for central bank money, but the theoretical framework for monetary policy has...

How can Mexico best achieve a stable standard of value and, hence, sound money? Mr. Jordan, president and chief executive officer of the Federal Reserve Bank of Cleveland, explored this question in his address to the DUXX Graduate School of Business Leadership at its Forum on Public Policy in...

An examination of the role of sound money in promoting national prosperity, emphasizing the hazards that emanate from fiscal policies and the challenges that will accompany the European Monetary Union.