Monetary Policy refers to the the process governments use to control money. In many countries, Monetary policy is controlled by a central bank. Central Bankers usually use a few different tools at their disposal in order to control the money supply, availability of credit, and the interest rates. Many economists feel that monetary policy can have a deleterious effect on the macro economy if used improperly . A monetary policy that restricts the availability of credit would be considered tight, while a policy that expands the availability of credit would be considered loose. Many economists feel that monetary policy has a significant impact on the economic growth of a country and can have an adverse affect as well, resulting in inflation.
Selected Articles:
- “Bretton Woods: 1944-1971“, by Paul Stevens
- “Free Market Money: A Key to Peace”, by Steven Horwitz
- “Where the Monetarists Go Wrong”, by Henry Hazlitt
- “One Currency for the World?“, by Henry Hazlitt
- “In Search of a New Monetary Order”, by Hans F. Sennolz
- “A Market Choice of Money”, by Ellis W. Lamborn
- Monetary-Policy Disasters of the Twentieth Century by Kirby R. Cundiff
- A Credit Expansion Economy by Clarence Carson
- Monetary Cross Roads by Hans F. Sennolz
- The Making of an International Monetary Crisis by Paul Stevens
