On Hayek's denationalization of money, free banking and inflation targeting Footnote1

1 We would like to thank two referees from this journal for perceptive and insightful comments on an earlier draft of this paper. In addition, we thank T.K. Rymes, Amir Kia, and particularly Professor Charles Goodhart for comments that led to the refinement of parts of our analysis.

References

• Bank of England . 1999 . The Transmission Mechanism of Monetary Exchange , London : The Monetary Policy Committee, Bank of England .
   Google Scholar
• Bernanke , B. S. , Thomas , L. , Adam , S. P. and Miskin , F. , eds. 1999 . Inflation Targeting , Princeton : Princeton University Press .
   Google Scholar
• Checkland , S. G. 1975 . Scottish Banking: A History, 1695 – 1973 , Glasgow : Collins .
   Google Scholar
• Ferris , J. S. and Galbraith , J. A. 2003 . Indirect convertibility as a monetary rule for inflation targeting . Applied Financial Economics , 13 ( 10 ) : 753 – 761 .
   Google Scholar
• Hayek , F. A. 1976 . Denationalisation of Money , London : The Institute of Economic Affairs .
   Google Scholar
• Hayek , F. A. 1978 . Denationalisation of Money , 2nd edition , London : The Institute of Economic Affairs .
   Google Scholar
• Hayek , F. A. 1986 . Market Standards for Money . Economic Affairs , 6 ( 4 ) : 8 – 11 .
   Google Scholar
• Hayek , F. A. 1990 . Denationalization of Money - the Argument Refined , 3rd edition , London : The Institute of Economic Affairs .
   Google Scholar
• Kaufman , G. G. 2004 . Depositor liquidity and loss sharing in bank failure resolutions . Contemporary Economic Policy , 22 ( 2 ) : 237 – 249 .
   Google Scholar
• Klein , B. 1975 . The competitive supply of money . Journal of Money, Credit, and Banking , 6 ( 4 ) : 423 – 452 .
   Google Scholar
• Klein , B. and Leffler , K. 1981 . The role of market forces in assuring contractual performance . Journal of Political Economy , 89 ( 4 ) : 615 – 641 .
   Web of Science ®Google Scholar
• Selgin , G. and White , L. H. 1987 . The evolution of a free banking system . Economic Inquiry , 25 ( 3 ) : 439 – 458 .
   Web of Science ®Google Scholar
• Selgin , G. and White , L. H. 1994 . How would the invisible hand handle money . Journal of Economic Literature , 32 : 1718 – 1749 .
   Web of Science ®Google Scholar
• White , L. H. 1995 . Free Banking in Britain , 2nd edition , London : Institute of Economic Affairs .
   Google Scholar
• White , L. H. 1999 . The Theory of Monetary Institutions , Malden, MA : Blackwell Publishers .
   Google Scholar