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2. Monetary Policy and the Legacy of Milton Friedman
- Author:
- Anna J. Schwartz
- Publication Date:
- 03-2008
- Content Type:
- Journal Article
- Journal:
- The Cato Journal
- Institution:
- The Cato Institute
- Abstract:
- So many well-deserved tributes have been paid to the memory of Milton Friedman that I propose to pay him tribute in a special way by talking about my long association with him. Before I do so, I note his activities before the 1950s, when we started working together. For the record, Friedman was not a monetarist when our collaboration began.
3. The IMF's Dubious Proposal for a Universal Bankruptcy Law for Sovereign Debtors
- Author:
- Anna J. Schwartz
- Publication Date:
- 03-2003
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- The International Monetary Fund has proposed a universal bankruptcy tribunal to deal with sovereign debt restructuring. But does the international financial system really need such a mechanism? There has been little demand by sovereign borrowers or their creditors for a universal bankruptcy law, and few countries have had to enter into debt restructuring procedures. The absence of such a law does not appear to have created chaotic conditions even in those cases.
- Topic:
- Economics, International Organization, International Political Economy, and International Trade and Finance
4. Time to Terminate the ESF and the IMF
- Author:
- Anna J. Schwartz
- Publication Date:
- 08-1998
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- The International Monetary Fund and the U.S. Treasury Department's Exchange Stabilization Fund are undemocratic institutions unaccountable for their actions. Their current functions have little to do with their original missions. The ESF is used by the executive branch to circumvent Congress in the provision of foreign aid. Its foreign exchange interventions have, in any event, always been wasteful and ineffective at controlling the relative price of the U.S. dollar. The IMF has also been used to provide massive bailouts in the cases of Mexico in 1995 and of Asian countries since 1997. Defenders of the IMF as an international lender of last resort are misinformed since the IMF does not and cannot serve that purpose. Both institutions should be abolished, not reformed, because they are not needed to resolve currency crises and they preclude superior solutions.
- Topic:
- Economics, International Trade and Finance, and Political Economy
- Political Geography:
- United States, Asia, and Mexico
5. Cato Institute's 15th Annual Monetary Conference
- Author:
- Anna J. Schwartz, Stanley Fischer, Jerry L. Jordan, Leland B. Yeager, Francisco Gil-Diaz, Roberto Salinas-Leon, A. James Meigs, Lawrence Kudlow, William A. Niskanen, Michael Prowse, and Bert Ely
- Publication Date:
- 10-1997
- Content Type:
- Working Paper
- Institution:
- The Cato Institute
- Abstract:
- On Tuesday, October 15, 1997 the Cato Institute continued its 15 year tradition of exploring pressing and timely issues in international fiscal policy with its meeting Money and Capital Flows in a Global Economy. Speakers including Federal Reserve Chairman, Alan Greenspan; First Deputy Managing Director of the International Monetary Fund, Stanley Fisher; and the Bank of Mexico's Vice Governor, Francisco Gil-Díaz, convened to sort through the pressing issues relevant to global capital flows that face the world economy.
- Topic:
- Economics, Globalization, and International Political Economy
- Political Geography:
- South America, Latin America, North America, Mexico, and Nagasaki