The Theory of Monetary Institutions

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?