AEI.Org: Scholar: Allan H. Meltzer

Preventing the Next Financial Crisis

Fri, 23 Oct 2009 00:00:00 +0100

Don't be fooled by the bond market. Banks are holding prices down because they can buy Treasuries with free money from the Fed.

What Happened to the "Depression"?

Tue, 01 Sep 2009 00:00:00 +0100

Despite the rhetoric from Washington, we were never close to 25 percent unemployment.

Will the Fed Play Politics?

Mon, 17 Aug 2009 00:00:00 +0100

Ben Bernanke should ignore Congress and start tightening up soon.

Inflation Nation

Mon, 04 May 2009 00:00:00 +0100

If President Obama and the Federal Reserve continue down their current path, we could see a repeat of the inflationary years of the 1970s.

If Barack Obama Could Achieve Only One Financial Reform, What Should It Be?

Mon, 13 Apr 2009 00:00:00 +0100

If President Obama asked for the most urgent financial reform, global or domestic, needed to rebuild the credibility of the financial system, what would be the answer?

Regulation Usually Fails

Wed, 11 Feb 2009 00:00:00 +0100

President Obama should rethink his approach to financial market reform.

Neglected Stimulus Ideas

Mon, 05 Jan 2009 00:00:00 +0100

Economists assess President-elect Barack Obama's fiscal stimulus proposals.

The Epic of Finance

Mon, 15 Dec 2008 00:00:00 +0100

The Ascent of Money is yet another in Niall Ferguson's series of very readable and enjoyable books.

A Plan to Rebuild the Housing Market

Tue, 11 Nov 2008 00:00:00 +0100

The best way to solve the housing market crisis is to increase demand for unsold houses.

Yes, It's a Wreck, but We Can Fix It

Mon, 20 Oct 2008 00:00:00 +0100

Why have the government's efforts to right the economy not yet succeeded?

Keep the Fed Away from Investment Banks

Wed, 16 Jul 2008 00:00:00 +0100

Clear capital requirements are all we need.

Regulatory Overkill

Mon, 31 Mar 2008 01:00:00 +0100

The housing mess is the result of earlier rule-making mistakes. Greater regulation is notthe answerin bringingstability, butrathercontributes to problems in financial markets.

Grading Bernanke: A Symposium

Thu, 27 Mar 2008 01:00:00 +0100

Amid widespread financial turmoil and talk of recession, fivescholars atAEI graded and assessed the Federal Reserve’s recent policy decisions.

That '70s Show

Thu, 28 Feb 2008 00:00:00 +0100

The Fed's job is to prevent inflation and promote economic growth. It should not sacrifice inflation in to manipulate short-term employment numbers.

Why the Crisis?

Thu, 21 Feb 2008 00:00:00 +0100

The roots of the subprime meltdown can be found in the financial industry's compensation system and in the Basel Accords.

The Fed Should Hold Firm

Sat, 15 Sep 2007 00:00:00 +0100

Aloose monetary policy is necessary to head off an economic downturn that is coming our way.

Let 'Em Fail

Sat, 21 Jul 2007 00:00:00 +0100

A no-bailout policy is the only regulation hedge funds need.

Is the IMF Obsolete?

Fri, 18 May 2007 00:00:00 +0100

AEI scholars debate the relevance of the International Monetary Fund.

An Appreciation

Tue, 21 Nov 2006 00:00:00 +0100

A remembrance of Milton Friedman, an extraordinary economist and individual.

From Inflation to More Inflation, Disinflation, and Low Inflation

Mon, 01 May 2006 00:00:00 +0100

Regime Change at the World Bank

Fri, 18 Mar 2005 00:00:00 +0100

Paul Wolfowitz can help to reduce poverty and spread democracy by replacing command and control with incentives to reach those goals.

New Mandates for the IMF and World Bank

Sat, 01 Jan 2005 00:00:00 +0100

New leadership at the IMF and the end of James Wolfensohn’s term at the World Bank in 2005 provide an opportunity for new approaches and much needed reform.

Why the Collapse of the Dollar Is Just a Myth

Mon, 05 Apr 2004 00:00:00 +0100

If theUnited Statescontinues to report productivity growth rates, and profit rates remain high, there should be no shortage of buyers of U.S. assets and equities.

A Monetary History as a Model for Historians

Thu, 01 Jan 2004 00:00:00 +0100

The author discusses the economy and monetary theories of Anna Schwartz and Milton Friedman.

A Jobless Recovery?

Fri, 26 Sep 2003 00:00:00 +0100

One of the enduring half-truths about the economy is that small firms create most new jobs.

Interview with Allan H. Meltzer

Mon, 01 Sep 2003 00:00:00 +0100

A Reality Check for the Conventional Wisdom

Sun, 17 Aug 2003 00:00:00 +0100

To the surprise of most Japan-watchers, the Japanese economy continues to recover.

Leadership and Progress

Fri, 01 Aug 2003 00:00:00 +0100

The Answer Is "No"

Sun, 01 Jun 2003 00:00:00 +0100

Argentina 2002

Sun, 01 Jun 2003 00:00:00 +0100

New IMF Loan Will Not Solve Argentine Crisis

Mon, 13 Jan 2003 00:00:00 +0100

Instead of negotiating assistance in exchange for promises, the International Monetary Fund should withdraw from Argentine domestic policy and accept once and for all that it cannot solve the country's problems.

World Bank Drain

Mon, 13 Jan 2003 00:00:00 +0100

Congress must act and demand reforms from International Development Association and the Asian and African Development Funds, instead of simply writing them a blank check.

Back to Bailouts

Wed, 07 Aug 2002 00:00:00 +0100

The International Monetary Fund and the U.S. Treasury have abandoned their short-lived policy of benign neglect and come galloping back into Latin America.

Depreciate the Yen

Tue, 16 Apr 2002 01:00:00 +0100

As the world economy moves towards recovery, Japan, the second largest economy, lags behind.

A Solution for Argentina

Thu, 24 Jan 2002 01:00:00 +0100

To prevent a run from weak to strong banks in Argentina, the government should underwrite a guarantee of deposits until the sector is recapitalised.

Grants

Tue, 01 Jan 2002 00:00:00 +0100

IFI Reform

Fri, 21 Sep 2001 00:00:00 +0100

The mission of the development banks should be four-fold: promoting economic and social development, improving the quality of life, reducing poverty, and providing global and regional public goods.

The World Bank Is Wrong to Oppose Grants

Thu, 26 Jul 2001 00:00:00 +0100

Needy countries carry official debt, and theyhave nothing but a 25% decline in their standard of living; a major change in the way aid is delivered and administered is needed.

Money and Monetary Policy

Sun, 01 Jul 2001 00:00:00 +0100

Default without Disruption

Thu, 10 May 2001 01:00:00 +0100

Pie-in-the-Sky Debt Relief

Wed, 11 Oct 2000 00:00:00 +0100

Slow Progress in Prague

Tue, 10 Oct 2000 00:00:00 +0100

A Better Way to Help the World

Fri, 28 Apr 2000 01:00:00 +0100

What the World Bank Ought to Be Doing

Tue, 11 Apr 2000 00:00:00 +0100

Current World Bank expenditures are too much for ineffective programs but too little for effective programs.

Monetary Policy in the New Global Economy

Sat, 01 Apr 2000 00:00:00 +0100

A Blueprint for IMF Reform

Wed, 08 Mar 2000 00:00:00 +0100

Liquidity Claptrap

Mon, 01 Nov 1999 00:00:00 +0100

Fixing the IMF

Tue, 01 Jun 1999 00:00:00 +0100

The future role of the International Monetary Fund is today in doubt.

Asian Problems and the IMF

Thu, 01 Jan 1998 00:00:00 +0100

Asia Afloat

Mon, 24 Nov 1997 00:00:00 +0100

What Goes Up . . . Must Come Down

Mon, 21 Apr 1997 00:00:00 +0100

Clinton's Bailout Was No Favor to Mexicans

Fri, 02 Feb 1996 00:00:00 +0100

Monetary, Credit, and (Other) Transmission Processes

Fri, 01 Sep 1995 00:00:00 +0100

The Shadow Tried to Warn Them

Tue, 01 Nov 1994 00:00:00 +0100

As Clinton Spends, the Dollar Weakens

Thu, 30 Jun 1994 00:00:00 +0100

Dear Mr. President . . .

Fri, 14 Jan 1994 00:00:00 +0100

Failure of Uruguay Talks on Trade Would Be a Deficit for All Nations

Sun, 31 Oct 1993 00:00:00 +0100

What the New Europe Needs

Sun, 05 Sep 1993 01:00:00 +0100

United States Leadership and Postwar Progress

Wed, 01 Sep 1993 00:00:00 +0100

Germany's Short-Term Difficulties Dwarfed by Long-Range Problems

Sun, 11 Jul 1993 00:00:00 +0100

Deficit Will Continue

Sun, 30 May 1993 00:00:00 +0100

Why Governments Make Bad Venture Capitalists

Wed, 05 May 1993 00:00:00 +0100

Quality of Health Care Is Bound to Get Worse as Government Intervenes

Sun, 18 Apr 1993 00:00:00 +0100

Clinton Lost Chance to Boost Economy by Not Focusing on Productivity

Sun, 07 Mar 1993 00:00:00 +0100

Real Exchange Rates

Mon, 01 Mar 1993 00:00:00 +0100

The Worst Kind of Short-Term Thinking

Mon, 22 Feb 1993 00:00:00 +0100

Slight Tightening of Monetary Policy Needed to Keep Lid on Inflation

Sun, 14 Feb 1993 00:00:00 +0100

The Deficit

Fri, 01 Jan 1993 00:00:00 +0100

The Attack on Central Banks

Fri, 18 Dec 1992 00:00:00 +0100

A Quick Fix Not Likely to Lead to Long-Term Growth

Sun, 08 Nov 1992 00:00:00 +0100

Prosperity May Not Have Arrived but an Economic Recovery Surely Has

Sun, 13 Sep 1992 00:00:00 +0100

Bill and Al's Excellent Economic Adventure

Tue, 01 Sep 1992 00:00:00 +0100

Applying Market Principles to the Cause of Saving the Environment

Sun, 19 Jul 1992 00:00:00 +0100

Exchange Rates Have Kept Tokyo Stock Woes from Reaching New York

Sun, 24 May 1992 00:00:00 +0100

Massive Aid Program for Russia, As Proposed by Nixon, Isn't the Answer

Sun, 29 Mar 1992 00:00:00 +0100

Worry about Under-Investment, Not Deficits

Tue, 17 Mar 1992 00:00:00 +0100

Fed's Discount Rate Cut Will Fuel Inflation

Tue, 04 Feb 1992 00:00:00 +0100

Patinkin on Keynes and Meltzer

Wed, 01 Jan 1992 00:00:00 +0100

If Middle Class Is Falling Behind, Solutions Lies in Higher Productivity

Sun, 08 Dec 1991 00:00:00 +0100

Western Loans Not Soviet Answer

Sun, 13 Oct 1991 00:00:00 +0100

Pointing Way to Prosperity for East Europe Countries

Sun, 18 Aug 1991 00:00:00 +0100

No One but U.S. Treasury Wants Interest Rate Cuts

Sun, 23 Jun 1991 00:00:00 +0100

Fair Trade Policies Harm This Country's Consumers

Sun, 28 Apr 1991 01:00:00 +0100

No Need to Worry about a 1930s-Style Depression

Sun, 06 Jan 1991 00:00:00 +0100

Soviets Unlikely to Avert Stagnation and Inflation

Sun, 11 Nov 1990 00:00:00 +0100

German Merger to Affect Economies around World

Sun, 22 Jul 1990 00:00:00 +0100

My Life Philosophy

Thu, 01 Mar 1990 00:00:00 +0100

Brady's Treasury Needs Fixing

Mon, 11 Dec 1989 00:00:00 +0100

A History of the Federal Reserve, Vol. I

Tue, 01 Jan 2002 00:00:00 +0100

Thismonumental history of the Federal Reserve System tells the story of one of America's most influential but least understood public institutions.

Money and the Economy

Sun, 01 Jun 1997 00:00:00 +0100

This volume, by two eminent monetarist economists, offers a unique perspective on a key issue of monetary economics: the effect of money on output.

Money, Credit, and Policy

Sun, 01 Jan 1995 00:00:00 +0100

Chapters cover the demand for money, predicting velocity, economies of scale, monetary theory and history, the Great Depression, stagflation, unemployment, the permanence of economic shocks, and more.

Political Economy

Mon, 01 Apr 1991 00:00:00 +0100

This book explores the intricacies of political economy.

Monetary Economics

Mon, 01 May 1989 00:00:00 +0100

This book examines monetary policy and economic issues.

Keynes's Monetary Theory

Wed, 01 Feb 1989 00:00:00 +0100

This book argues that despite the centrality of Keynes's views to macroeconomics and the active controversy about Keynesian policy, his central ideas have been ignored or misstated.

Federal Tax Treatment of State and Local Securities

Tue, 01 Apr 1980 00:00:00 +0100

This study aims to narrow down the differences among experts in taxation and the municipal bond market on the facts and analyses with regard to this matter of public policy.

This Time Is Different: Eight Centuries of Financial Folly

Thu, 29 Oct 2009 10:00:00 +0100

Why Capitalism?

Mon, 09 Mar 2009 19:30:00 +0100

Is Deregulation a Cause of the Financial Crisis?

Fri, 23 Jan 2009 15:00:00 +0100

The End of the American Era: Looking Ahead

Wed, 22 Oct 2008 10:00:00 +0100

Is the Federal Reserve on the Right Track?

Mon, 16 Jun 2008 14:00:00 +0100

What Lies Beyond the Credit Crunch? Part II

Mon, 28 Apr 2008 14:00:00 +0100

Is the IMF Still Relevant?

Tue, 25 Sep 2007 14:00:00 +0100

The Future of Foreign Aid? The Millennium Challenge Corporation Two Years On

Mon, 23 Jan 2006 12:00:00 +0100

Does the Euro Have a Future?

Fri, 16 Sep 2005 14:00:00 +0100

The World Bank under Wolfowitz

Tue, 07 Jun 2005 15:30:00 +0100

In Praise of Empires

Tue, 10 May 2005 10:00:00 +0100

A New Approach to Personal Social Security Accounts

Tue, 29 Mar 2005 12:00:00 +0100

The World's Banker

Mon, 13 Dec 2004 09:30:00 +0100

Policy Challenges of Global Payment Imbalances

Thu, 04 Nov 2004 15:00:00 +0100

Does Federal Government Debt Affect Interest Rates?

Thu, 08 Jul 2004 09:30:00 +0100

Global Economic Challenges for the IMF's New Chief

Wed, 09 Jun 2004 14:00:00 +0100

Three Cheers for Globalization

Wed, 10 Mar 2004 14:00:00 +0100

Should China Float Its Currency?

Wed, 15 Oct 2003 14:30:00 +0100

The Fall of the Dollar and the Global Economy

Tue, 22 Jul 2003 08:45:00 +0100

Annual Dinner 2003

Wed, 26 Feb 2003 18:00:00 +0100

A Tribute to Allan H. Meltzer

Wed, 26 Feb 2003 09:00:00 +0100

A History of the Federal Reserve, Vol. I

Mon, 18 Nov 2002 17:00:00 +0100

The IMF and the Lessons from Argentina and Brazil

Thu, 31 Oct 2002 15:45:00 +0100

The IMF Proposal for Sovereign Debt Restructuring

Mon, 07 Oct 2002 09:00:00 +0100

Does a Stimulus Package Have Unintended Consequences?

Thu, 04 Apr 2002 14:00:00 +0100

Who Lost Argentina?

Tue, 05 Feb 2002 09:30:00 +0100

Is It Really Good Policy to Pay Off the Publicly Held Treasury Debt?

Fri, 23 Feb 2001 09:00:00 +0100

Anna Schwartz

Fri, 14 Apr 2000 12:00:00 +0100

Final Report of the International Financial Institution Advisory Commision

Wed, 08 Mar 2000 11:30:00 +0100

Should the United States Aid the Former Soviet Union?

Mon, 13 Apr 1992 00:00:00 +0100

Regulatory Reform and the Federal Reserve

Thu, 09 Jul 2009 00:00:00 +0100

In regards to the Federal Reserve as super regulator, change is needed and long delayed, but appropriate change must protect the public, not bankers.

Why Capitalism?

Mon, 09 Mar 2009 00:00:00 +0100

Capitalism is the only system that increases both growth and freedom.

Reforming Central Banks

Tue, 17 Jul 2007 00:00:00 +0100

Central bankingneeds to announce and follow a policy rule in order to controlinflation over the long run.

International Monetary Fund Reform

Tue, 07 Jun 2005 00:00:00 +0100

Progress has been made in reforming the International Monetary Fund, specifically in adopting recommendations of the Meltzer Commission. However,greater reform is desirable.

IMF and World Bank Reform 2004

Wed, 19 May 2004 00:00:00 +0100

The IMF should establish a list of policies that countries must adopt to be assured ofcrisis assistance.The World Bank should be monitored by an independent group similar to the GAO.

NABE Speech: Leadership and Progress

Mon, 15 Sep 2003 00:00:00 +0100

Democratic capitalism and the Pax Americana have brought many more global benefits than is often realized.

Leadership and Progress

Wed, 26 Feb 2003 00:00:00 +0100

Meltzer's Irving Kristol Lecture at AEI's 2003 Annual Dinner.

Replenishment of the Multilateral Banks

Thu, 12 Sep 2002 00:00:00 +0100

Testimony by Allan H. Meltzer before the Senate Committee on Foreign Relations on September 12, 2002.

The International Monetary Fund Two Years after the IFIAC (Meltzer) Commission

Wed, 06 Mar 2002 00:00:00 +0100

Testimony by Allan H. Meltzer before the House Financial Services Committee (March 5) and the Joint Economic Committee (March 6).

The World Bank One Year after the Commission's Report to Congress

Thu, 08 Mar 2001 00:00:00 +0100

Statement before the Joint Economic Committee of the U.S. Congress, by Allan H. Meltzer, March 8, 2001.

What's Wrong with the IMF? What Would Be Better?

Thu, 08 Oct 1998 00:00:00 +0100

If a country adopts market-oriented policies of privatization and deregulation, foreign lenders and investors are willing to finance development.

Monetary Reform in the U.S.S.R

Tue, 09 Jul 1991 00:00:00 +0100

False Notes from the Fed, the Treasury, and the SEC

Tue, 22 Jul 2008 00:00:00 +0100

The Federal Reserve, the Treasury, and the Securities and Exchange Commission have taken actions recently that could have profound impact on the nation's financial system.

Stern Lessons on Fed Policies and Actions

Tue, 01 Apr 2008 01:00:00 +0100

What are the implications of the Fed's actions on Bear Stearns? Four AEI scholars look closely at the evidence of what went wrong and what is ahead.

An Appreciation: Milton Friedman, 1912-2006

Thu, 30 Nov 2006 00:00:00 +0100

Although Milton Friedman is no longer with us, his memory will live on through his work.

Regime Change at the World Bank

Wed, 23 Mar 2005 00:00:00 +0100

Paul Wolfowitz can help to reduce poverty and spread democracy by replacing command and control at the World Bank with incentives to reach those goals.

A Jobless Recovery?

Sat, 01 Nov 2003 00:00:00 +0100

While analysts discuss the loss of manufacturing jobs since the George W. Bush administration took office, the Labor Department Household Survey shows such claims to be exaggerated.

Back to Bailouts

Thu, 01 Aug 2002 00:00:00 +0100

Approval of loans to Uruguay and Brazil signals that the Bush administration's position of refusing to bail out mismanaged economies has given way to the mistaken policies of the past.

Depreciate the Yen

Mon, 01 Apr 2002 00:00:00 +0100

Japan’s Ministry of Finance and the Bank of Japan should continue to purchase foreign exchange, stop by selling other assets, and expand money growth until yen deflation ends.

The World Bank Is Wrong to Oppose Grants

Wed, 01 Aug 2001 00:00:00 +0100

The World Bank should provide the poorest countries with performance-based grants rather than loans, which are seldom repaid.

Beyond IMF Bailouts

Tue, 01 May 2001 00:00:00 +0100

International lenders of last resort should instead implement a constructive default framework that encourages prudent policies and secure financial systems in borrowing countries.

Slow Progress in Prague

Sun, 01 Oct 2000 00:00:00 +0100

The September World Bank and IMF meeting in Prague produced important reforms of IMF financial practices, continuing confusion at the World Bank, and a flawed proposal for debt relief.

A Better Way to Help the World

Fri, 28 Apr 2000 00:00:00 +0100

A bipartisan congressional commission has proposed changes to increase the effectiveness of the International Monetary Fund, the World Bank, and other international financial institutions.

Reforming the IMF and the World Bank

Wed, 08 Mar 2000 00:00:00 +0100

In order for the United States to provide effective foreign assistance to other countries, both the International Monetary Fund and the World Bank must undergo substantial reform.

Time for Japan to Print Money

Fri, 17 Jul 1998 00:00:00 +0100

Japan should take the opportunity provided by a new government to change economic policy, pursue monetary expansion, and devalue.

Moral Hazard Goes Global

Thu, 01 Jan 1998 00:00:00 +0100

The damaging impact ofthe international aid package extended to Mexico in 1995 illustrates apattern that maybe repeated in Asia.

The Problems of Monetary Union--and a Better Alternative

Wed, 01 May 1996 00:00:00 +0100

The European Monetary Union is too small to realize benefits;a largely voluntary, decentralized arrangement covering more of the world's trade would be a much more desirable outcome.