Mercantilism Never Went Away
The debate over the Export-Import Bank continues, with the bank’s friends in Congress and other high places claiming that the Bank serves an
Monetary Theory
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Understanding Argentina’s Coming Default
The problem is that Argentina had decided to once again prefer deficits and unrestrained government spending to paying its obligations.
Hayek’s Money Economy: The Dynamics of Competitive Equilibrium and Socio-Economic Order
There is no evidence in Hayek's published work that the notion of an end-state ever held any interest. Across more than 60 years of original publications, Hayek's notion of equilibrium was well-defined, dynamic
On the Optimum Quantity of Money
It is pretty well established within Austrian economics that the optimum quantity of money is whatever level is established at any given time.
Dynamic Monetary Theory and the Phillips Curve with a Positive Slope
Don Bellante and Roger W. Garrison (1988) compared two alternative explanations of monetary dynamics: those based on a vertical long-run Phillips curve and those derived from analysis of Hayekian triangles.
Rothbard on Money: A Critical Textual Exegesis
In 1998 I presented a paper which argued that no theory of money was possible—in the sense of there being a stable relationship between a few explanatory variables.
Review of Ludwig von Mises als Pionier der modernen Geld und Konjunkturtheorie by Carsten Pallas
The present work is a doctoral dissertation written at the University of Hamburg. It deals with Mises’s work on monetary economics and business cycle theory.
New Keynesian Monetary Views: A Comment
The fundamental question we have to confront in the theory of monetary policy is therefore not whether money affects the real economy—yes it does, both in the short run and in the long run
The Term Structure of Savings, the Yield Curve, and Maturity Mismatching
Recognizing different types of savings allows for a more fruitful analysis of the business cycle. Sustainable investment activities must be financed by an equivalent amount of savings, both in length of availability and quantity.
The Mystery of the Money Supply Definition
The validity of various definitions of money cannot be ascertained by means of a statistical correlation with national income.
