Alternatives to the Fed?

12 Pages Posted: 19 Apr 2013

See all articles by Bennett T. McCallum

Bennett T. McCallum

Carnegie Mellon University - David A. Tepper School of Business; National Bureau of Economic Research (NBER)

Date Written: October 19, 2010


There are three main alternatives to the Federal Reserve that need to be discussed. These are the gold standard, private competitive supply of money, and the Yeager-Greenfield plan for an automatically stabilized unit of account. I will attempt to provide some relevant considerations in this article.

Keywords: federal reserve bank, central banking, financial crisis of 2008, U.S. monetary policy, gold standard, free markets, privatization

JEL Classification: E52, E58, E60

Suggested Citation

McCallum, Bennett T., Alternatives to the Fed? (October 19, 2010). Cato Journal, Vol. 30, No. 3, 2010. Available at SSRN:

Bennett T. McCallum (Contact Author)

Carnegie Mellon University - David A. Tepper School of Business ( email )

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