The Theory of Monetary Institutions
analyzes the often overlooked - but fundamental - questions about monetary policy regimes:
- How and why have monetary institutions evolved into their present forms?
- What are the leading arguments for and against government involvement in money and banking?
- What models do we have for explaining how monetary authorities choose to behave in a discretionary fiat money regime, and how well do they fit?
- What alternatives to the current regime are available, and how would they work?