Economic commentators have at times speculated that the Federal Reserve’s current monetary policy of lowering interest rates is too restrictive and may ultimately lead to declining prices and stagnant economic growth in the U.S. similar to the deflationary experience in Japan. Alex Cukierman of Tel-Aviv University suggests, however, that...

This conference will honor the work of Allan H. Meltzer, AEI visiting scholar and professor at Carnegie Mellon University where he holds the title of Allan H. Meltzer Professor of Political Economy and Public Policy. On the day of AEI’s annual dinner when Mr. Meltzer will receive the Irving Kristol...