"This book started out as a biography of the dollar, not of a man. It was intended to be an international version of the story I had told in The New Lombard Street: How the Fed Became the Dealer of Last Resort (2011). That book was a biography of the Fed, as seen through the analytical lens of...

This paper shows that the monetary policy paradigm that was in place before the financial crisis worked very well and that the crisis occurred only after policy makers deviated from that paradigm. The paper also evaluates monetary policy during the financial crisis by dividing the crisis into...