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Brian C. Albrecht

Modeling Money as a Unit of Account

In a recent Econometrica article, Matthias Doepke and Martin Schneider model money as a standardized unit of account.


James L. Caton

Hawtrey, Cassel, and the Development of Hayek’s Monetary Theory

The inability of Hayek and other scholars to join forces against Keynes’s supposed innovations arguably contributed to Keynes’s victory among academics in the immediate post-war period.


Alexander W. Salter

Case Study: The 2007-8 Financial Crisis

Through incentive and information problems, the Fed–rather than free markets–caused the 2007-8 financial crisis.


Fergus Hodgson

Don’t Believe Olympic-Bid Estimates

It is not just Canada; every single Olympic Games for which data was available exploded its budget, without exception. The Olympics are so grossly miscalculated that the authors concluded that they “have the highest average cost overrun of any type of mega-project.”


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