is the Allan H. Meltzer University Professor of Political Economy at Carnegie Mellon University. His teaching and research interests include the history of US monetary policy, size of government, macroeconomics, and the relation of money to inflation and unemployment in open and closed economies. Professor Meltzer has served as a consultant on economic policy for the US Congress, US Treasury, the Federal Reserve, the World Bank and the US and foreign governments, and was Chair, the International Financial Institution Advisory Commission. He is founder and chairman of the Shadow Open Market Committee, and is Honorary Advisor to the Bank of Japan. He is the author of many books and papers in the field of economics.