Alternatives and Supplements: Fun on the Internet
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Monetary History

International Payments and Limits on Policy

An official from the Bank of Canada explains how floating and fixed exchange rates have influenced Canadian monetary policy:

Rules of the Game

Jeffrey Frankel examines the conflict between those who wanted fixed exchange rates and those who favored floating rates:

Early Monetary Policy

The Federal Reserve Bank of Minneapolis explains the real-bills doctrine as a sidebar to an interview with Alan Meltzer (which is somewhat long but worth reading):

Monetary Recovery

The Federal Reserve Bank of Richmond has a article on the life and contributions of William McChesney Martin, who dominated the Federal Reserve during the 1950s and 1960s:

Measuring Monetary Policy

The Federal Reserve Bank of New York explains Federal Funds:


I have not yet found an appropriate entry for this topic. Until I do, here is a game or simulation in which you get to set monetary policy in a fictional economy:

Policy Rules

One of the most discussed policy rules currently is the Taylor rule, which is ignored in CyberEconomics. The Federal Reserve Bank of San Francisco explains what the Taylor rule is:


The central message of credibility is expressed in a fable by Aesop:

The article, "Fed Power Tied To Policy Credibility," appeared in Forbes magazine:

Money Maturity

The late James Tobin, one of America's premier Keynesians, writes about monetary policy in The Concise Encyclopedia of Economics:

These links were checked on July 4, 2008

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Copyright Robert Schenk

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