The super-alertness of central banks

Nicolás Cachanosky, Alexander W. Salter

Research output: Contribution to journalArticlepeer-review

1 Scopus citations


This paper applies Kirzner’s theory of entrepreneurial alertness to central banking. As opposed to entrepreneurs operating within the market, central banks can operate outside the market by defining its structure and regulations. We label as “super-alertness” the particular type of Kirznerian alertness that central banks are required to have to successfully achieve stable monetary equilibrium.

Original languageEnglish
Pages (from-to)187-200
Number of pages14
JournalReview of Austrian Economics
Issue number1-2
StatePublished - Mar 1 2020


  • Alertness
  • Central banking
  • Free banking
  • Monetary equilibrium
  • Super-alertness


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