Institute of International Monetary Research

24th July: Don't miss Professor Kent Matthews from Cardiff Business School for the next webinar in our series, on the topic of Inflation Expectations vs Money. Register to join us at 3pm: https://buff.ly/3wWzfpU

Tim Congdon explains why he was almost alone in warning about rising inflation as far back as March 2020. He based his assessment on the surge in broad money growth at that time. Many other economists, especially the majorities in central banks who subscribe to three-equation New Keynesianism, focused solely on interest rates, including bond yields. They deny that there is a "separate money channel", but recent evidence suggests that this is incorrect.
Watch now: https://buff.ly/4csz5WJ

2024 06 24 - Quantity theory of money vs. interest rate only

Our latest Monthly Monetary Update explores the fact that broad money growth has touched record lows in China and has virtually stopped in Japan. By contrast, India continues to record strong money growth, driven by surging private sector demand for new bank credit. In the UK and the Eurozone money growth is sluggish, but at least it remains positive. In the USA, as in Japan, money growth has almost come to an end in recent months. Apart from India, money trends in the main countries therefore suggest mediocre, beneath-trend growth in demand and output in the rest of 2024 and early 2025, with central banks likely to react by cutting interest rates.
Read the full update:

Monthly Monetary Update - Institute of International Monetary Research | Insight into monetary policy and inflation Every month, the Institute of International Monetary Research produces a series of notes analysing the latest monetary trends in the world's largest economies

George Selgin's thought-provoking webinar on the subject of Free Banking is now available to view on our YouTube channel.

Watch now: https://buff.ly/4cgwxuJ

Inflation Expectations vs Money.... Professor Kent Matthews from Cardiff Business School ponders this topic in the next webinar in our series. Register to join us on Wednesday 24th July at 3pm: https://buff.ly/3wWzfpU

Want to learn more about monetarism? Our 6-week online course 'Money & Prices: An Introduction to Monetarism' will help you understand what is really happening in the worldwide economy. Find out more at: https://buff.ly/3RkZiw6

Our Chair Tim Congdon is pictured speaking at a Vinson Centre seminar for his new book published by Institute of Economic Affairs: ‘The Quantity Theory of Money: A New Restatement’. Prof. Congdon was one of the few economists who anticipated the high inflation which followed in the wake of the Covid-19 pandemic. Most economists and central bankers were caught off guard because they focused on interest rates and ignored the surge in broad money growth in many developed economies during 2020. The book underscores the urgency for policymakers to reassess monetary policy in order to avoid a repeat of these errors. It is available from the IEA: https://buff.ly/3xfWxqW

Professor Kent Matthews from Cardiff Business School will be the speaker of the next webinar in our series, on the topic of Inflation Expectations vs Money. Register to join us on Wednesday 24th July at 3pm:

Register: https://buff.ly/3wWzfpU

We welcome Professor Kent Matthews from Cardiff Business School the next webinar in our series, on the topic of Inflation Expectations vs Money. Register to join us on Wednesday 24th July at 3pm:

Register: https://buff.ly/3wWzfpU

Our Chairman, Professor Tim Congdon, explains the differences between what he calls "Chicago monetarism" and "broad monetarism", noting the mention of the latter in the latest monetary policy report from the Bank of England.

✂️ Two schools of monetarist thought 14 seconds · Clipped by Institute of International Monetary Research · Original video "IIMR May 2024 Chicago monetarism vs broad monetarism" by Institute ...

Professor Tim Congdon, Chair of the Institute, will be speaking at a Vinson Centre seminar on Wednesday 12th June, held at the Institute of Economic Affairs in London. The topic is 'How are we to explain economists' 'collective failure' to forecast inflation theory correctly in the 2020s?'
Register with the Vinson Centre for this event: https://buff.ly/3fR4czj

The Institute offers two choices of master's degree in conjunction with the University of Buckingham: MSc Money, Banking & Central Banking; or MSc Money, Banking and Wealth Management. Find out more at: https://buff.ly/3wtdyNE

We were delighted to have Leopold von Thadden, ECB, speak to students on the MSc Money, Banking and Central Banking on the subject of 'The ECB monetary policy strategy'. Pictured: students on the course.

George Selgin's thought-provoking webinar on the subject of Free Banking is now available to view on our YouTube channel. George is Senior Fellow and Director Emeritus at the Center for Monetary and Financial Alternatives at The Cato Institute in Washington DC.

Watch now: https://buff.ly/3UYjDv3

A hitherto unknown issue with central bank digital currencies is the possibility that £1 held in the form of a CBDC may find itself in certain circumstances worth less than a £1 coin. A recording of this webinar, part of the Spring Term series from the Institute, is now available on our YouTube channel.

https://buff.ly/3UnHT8y

Recent recession fears for the UK, EU and Eurozone may well have been misplaced. US Broad money growth continues at a reasonable level and is also growing, albeit still weakly, in the UK, Eurozone and Japan. Chinese broad money growth continues to weaken, but remains very strong in India.

IIMR April 2024 The UK's inflation performance; the Bernanke review of the Bank of England In this month's video. Tim Congdon, Chairman of the Institute of International Monetary Research, predicts that inflation will fall closer to the Bank of En...

Professor Pedro Schwartz (IIMR Academic Advisory Council) explains inflation as a monetary phenomenon and thus determined by changes in the amount of money in circulation.
https://buff.ly/3xZSCyc

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Just an hour to go until our free webinar on Free Banking with George Selgin from The Cato Institute 3pm start, May 1st.
Register: https://buff.ly/3VBe4Ds

Join us on May 1st when George Selgin will be the speaker for the second of our Spring series webinars on the topic of free banking. He is senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute and professor emeritus of economics from the University of Georgia. The webinar starts at 3pm.

Register now: https://buff.ly/3VBe4Ds

A short video on Monetary competition for part 19 of our MoneyTalks series. Professor Pedro Schwartz (IIMR Academic Advisory Council and University of Buckingham) describes the position of central banks as the providers of different currencies that compete (in an oligopolistic market) world-wide to increase their profits.

https://buff.ly/4azK1Rk

#MONEYTALKS - EPISODE 19: Monetary competition Professor Pedro Schwartz (IIMR Academic Advisory Council and University of Buckingham) discusses monetary competition and how it works in our days; he also d...

Vol 44, No 1 of the academic journal Economic Affairs features papers by both Samuel Demeulemeester and Kevin Dowd that were first presented at the Institute of International Monetary Research 2023 Monetary Conference.
https://buff.ly/3xEXuJd

- 'The case for 100% money: Ten reasons for separating money issuance from banking' Samuel Demeulemeester (p57)
- 'So far, Central Bank Digital Currencies have failed' Kevin Dowd (p71)

Episode 18 of our MoneyTalks series features Professor Pedro Schwartz (IIMR Academic Advisory Council and University of Buckingham) who explains the fundamentals of the euro and the conditions to remain in the Eurozone - in just 3 minutes!

Watch now:

#MONEYTALKS: Episode 18 - What is the Euro Standard? Professor Pedro Schwartz (IIMR Academic Advisory Council and University of Buckingham) explains the fundamentals of the euro and the conditions to remain in ...

On 17th April, Gabriel Stein of Stein Brothers will discuss a hitherto unknown issue with central bank digital currencies - namely the possibility that £1 held in the form of a CBDC may find itself in certain circumstances worth less than a £1 coin. Don't miss this fascinating free webinar, part of the Spring Term series from the Institute. Please note the 3pm starting time.
Register now: https://buff.ly/4anRHpf

Professor Pedro Schwartz continues his explanation of the gold standard in episode 17 of our MoneyTalks short video series.

#MONEYTALKS: Episode 17 - What is The Gold Standard? Part 2 Professor Pedro Schwartz (IIMR Academic Advisory Council and University of Buckingham) explains the emergence and the running of the classical gold standard ...

By popular demand, the webinar is now available with the lively q&a session at the end. Our thanks to Professor Hanke for allowing us to release this version.
View it now: https://buff.ly/3PuA2Em

Professor Pedro Schwartz continues his explanation of the gold standard in episode 17 of our MoneyTalks short video series. https://buff.ly/3wqLkmq

#MONEYTALKS: Episode 17 - What is The Gold Standard? Part 2 Professor Pedro Schwartz (IIMR Academic Advisory Council and University of Buckingham) explains the emergence and the running of the classical gold standard ...