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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.
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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.
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Case Study: The 2007-8 Financial Crisis
Through incentive and information problems, the Fed–rather than free markets–caused the 2007-8 financial crisis.
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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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