Author Archives: wcoats

About wcoats

I specialize in advising central banks on monetary policy and the development of the capacity to formulate and implement monetary policy.  I joined the International Monetary Fund in 1975 from which I retired in 2003 as Assistant Director of the Monetary and Financial Systems Department. While at the IMF I led or participated in missions to the central banks of over twenty countries (including Afghanistan, Bosnia, Croatia, Egypt, Iraq, Israel, Kazakhstan, Kenya, Kosovo, Kyrgystan, Moldova, Serbia, Turkey, West Bank and Gaza Strip, and Zimbabwe) and was seconded as a visiting economist to the Board of Governors of the Federal Reserve System (1979-80), and to the World Bank's World Development Report team in 1989.  After retirement from the IMF I was a member of the Board of the Cayman Islands Monetary Authority from 2003-10 and of the editorial board of the Cayman Financial Review from 2010-2017.  Prior to joining the IMF I was Assistant Prof of Economics at UVa from 1970-75.  I am currently a fellow of Johns Hopkins Krieger School of Arts and Sciences, Institute for Applied Economics, Global Health, and the Study of Business Enterprise.  In March 2019 Central Banking Journal awarded me for my “Outstanding Contribution for Capacity Building.”  My most recent book is One Currency for Bosnia: Creating the Central Bank of Bosnia and Herzegovina. I have a BA in Economics from the UC Berkeley and a PhD in Economics from the University of Chicago. My dissertation committee was chaired by Milton Friedman and included Robert J. Gordon.

The New Covid-19 Support Bill

The New Covid-19 assistance bill could add an additional 1.9 trillion dollars to support the fight against Covid-19.  In discussing the 2 trillion dollar CARES Act last April I wrote that: “The idea is that as the government has requested/mandated … Continue reading

Posted in Debt, Money | Tagged , , , , , | 3 Comments

Cancer in the Republican party

Does Rep. Marjorie Taylor Greene really believe that “a plane did not hit the Pentagon on 9/11, the Clintons crashed JFK Jr’s plane and that the 2018 California wildfires were started by a space laser controlled by Jews”? “Karl Rove … Continue reading

Posted in Government | Tagged , , , , , , | 1 Comment

My Travels to Jerusalem

Palestine: The Oslo Accords before and after, My travels to Jerusalem By Warren L Coats (2021) Kindle and paperback versions available at: Oslo Accords: Before and After An intimate account of the establishment of the Palestine Monetary Authority and related … Continue reading

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Access to COVID-19 vaccines

In less than one year from learning of this virus, we now have two approved safe and effective covid-19 vaccines with at least one more on the way. Millions of doses have already been produced. This is a near miracle. … Continue reading

Posted in Healthcare, regulation | Tagged , , , , , | 4 Comments

Conflicts of interest in government

I want my government to be run as efficiently as possible for the benefit of all of us. Appointing people to run it with experience in what they oversee contributes to that objective. Conflicts of interest–serving the interests of friends … Continue reading

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Facebook and Immigration

December 3rs’s WSJ started an article on immigration as follows: “The Trump administration has sued Facebook Inc., accusing the social-media company of illegally reserving high-paying jobs for immigrant workers it was sponsoring for permanent residence, rather than searching adequately for available … Continue reading

Posted in immigration, trade | Tagged , | 8 Comments

Hi Grandpa

The following story actually happened: Around 10 am Wednesday morning the phone rang. I picked it up and said, “Hello”. “Hi Grandpa,” was the reply. There are few things that grandfathers like hearing more than that, though often with a … Continue reading

Posted in Family | Tagged | 1 Comment

The Rule of Law: China and the U.S.

The rule of law has been an essential and critical foundation of successful free market economies. It provides the certainty of property rights and contracts needed for entrepreneurs to risk their capital in business undertakings. But as our business and … Continue reading

Posted in Foreign policy, trade | Tagged , , , , , , , , , | 1 Comment

The Thanksgiving Revolt

Sadly, Thanksgiving and healthcare more generally has been politicized (or “weaponized” as I said in a report to the UNDP with regard to the monetary system in Yemen–my advice was that nothing as important as the monetary system should be … Continue reading

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Judy Shelton’s monetary policy

I share Judy Shelton’s support for monetary policy with a hard anchor. Following currency board rules, the public should determine the money supply they want to hold at its fixed price. Historically, gold was the most common hard anchor. It … Continue reading

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