Running title: Establish federal monetary authority. T. Alan Goldsborough, chairman of subcommittee.

This book develops an alternative approach. It focuses on the recent, strikingly deviant, experience of Brazil but goes well beyond that single case.

This book is a study of the causes of the Fed’s errors, with lessons for an improved monetary authority, beginning with an examination of the history of central banks, in which it is found that their performance depended on their ...

The open access publication of this book has been published with the support of the Swiss National Science Foundation.

The book concludes with assessments of the performance of the currency board since 1983 and of the Hong Kong economy more widely. This book is designed both to inform lay readers and to provide substance for monetary economists.

Drawing on a wide body of scholarship, this volume presents a novel argument in favor of embedding monetary institutions into a rule of law framework.

In this paper I study the effect of imperfect central bank commitment on inflationary outcomes.