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Blog: AIER | American Institute for Economic Research
"His analysis implies the Fed could buy every financial asset in the world without causing inflation." ~ Alexander W. Salter
Blog: AIER | American Institute for Economic Research
"There's no way for non-market actors to direct credit more reliably than market actors. The discipline of profit and loss is essential." ~ Alexander W. Salter
Blog: AIER | American Institute for Economic Research
"Congress is free to define 'price stability' however it wishes. If it wants a strict inflation target in all circumstances, that's its right. But legislators would be well-advised to pay close attention to the microeconomic foundations of monetary policy." ~ Alexander W. Salter
Blog: AIER | American Institute for Economic Research
"The Fed's experiment with 'average inflation targeting,' which made policy even more discretionary and hence less predictable, has been a failure. It's time for the Fed to recommit to credible price stability." ~Alexander W. Salter
Blog: AIER | American Institute for Economic Research
"Provided the recent monthly inflation figures give us an accurate forecast, the real federal funds rate is significantly above the natural rate. This indicates monetary policy is restrictive." ~ Alexander W. Salter
Blog: AIER | American Institute for Economic Research
"The Fed may not need to tighten any further, depending on how markets continue to react to its recent policy changes. But this is no time for complacency.' ~ Alexander W. Salter
Blog: AIER | American Institute for Economic Research
"According to DeSantis, political elites want to 'regulate [bitcoin] out of existence' because it threatens their plans for social control. He's right." ~ Alexander W. Salter
Blog: AIER | American Institute for Economic Research
"Until recently, we knew liberty without order was decadent and order without liberty was tyrannical. But many powerful and influential figures have decided this wisdom is obsolete because it obstructs their demands for 'systemic equity' or their desire to 'own the libs.'" ~ Alexander W. Salter
Blog: AIER | American Institute for Economic Research
"GOP lawmakers absolutely should head CBDC efforts off at the pass, and the party's presidential candidates should support that rejection." ~ Alexander W. Salter
Blog: AIER
"Dollar depreciation is why prices are rising. The Fed's monetary policy, aided and abetted by the President's and Congress's massive deficits, are the real cause." ~ Alexander W. Salter
In: Journal of institutional economics, Band 17, Heft 1, S. 37-52
ISSN: 1744-1382
AbstractThis paper identifiespolitical property rightsandjurisdictional rivalryas two important mechanisms that drive political and economic development. After developing a general framework to explain relative performance in the 'market for governance', we argue that Western Europe during the High Middle Ages presented initial conditions conducive to the development of effective states. We extend the framework by analyzing city-state governance in Renaissance Italy, as well as public finance practices in early modern Germany. We conclude by discussing the implications of our argument for the literature on state capacity and economic development. The takeaway is that well-aligned political property rights and competition in the provision of governance services can promote the protective and productive state while forestalling the predatory state.
In: The quarterly review of economics and finance, Band 71, S. 1-13
ISSN: 1062-9769
In: Public choice, Band 180, Heft 3-4, S. 243-256
ISSN: 1573-7101
In: The quarterly review of economics and finance, Band 69, S. 22-28
ISSN: 1062-9769
In: The quarterly review of economics and finance, Band 66, S. 50-56
ISSN: 1062-9769