Quarterly Journal of Austrian Economics

Professor Joseph Salerno (2019) has commented on my recent reconstruction of the income effect from a causal-realist perspective (Israel, 2018b). In this rejoinder, I clarify my position and show that the main points of criticism in Salerno’s response are unfounded.

Economists have tried to explain business cycles as well as fluctuations in the economy, but over the past two centuries, the explanations have fallen into two areas.

Quinn’s American Bonds shows that the federal government’s credit policies were important factors behind the particular evolution of securitization and credit markets in the United States.

Brendan Brown reviews "Narrative Economics," which argues that "economic fluctuations are substantially driven by contagion of oversimplified and easily transmitted variants of economic narratives."