Lucas M. Engelhardt

Articles

QJAE: Keynesian Supply Shocks and Hayekian Secondary Deflations

08/18/2023 Power & Market Lucas M. Engelhardt

Abstract: In response to the COVID-19 lockdown policies, Guerrieri et al. (2020) developed a new concept: the Keynesian supply shock. A Keynesian supply shock is an aggregate supply shock that leads...

Pandemic Wage Observations

01/31/2022 Power & Market Lucas M. Engelhardt

Labor shortage “fun” fact:Inflation-adjusted weekly median earnings JUMPED in the 2nd quarter of 2020 (probably because so many low-wage workers got laid off), but have been steadily falling since...

Keynesian Supply Shocks and Hayekian Secondary Deflations

11/19/2021 Quarterly Journal of Austrian Economics Lucas M. Engelhardt

Long-standing policy advice based on Austrian business cycle theory would be useful in responding to Keynesian supply shocks—aggregate supply shocks that lead to even larger aggregate demand shocks.

Publications

Is There Such a Thing As a Skyscraper Curse?

09/09/2016 Elizabeth Boyle Lucas M. Engelhardt Mark Thornton

Quarterly Journal of Austrian Economics 19, no. 2 (Summer 2016) ABSTRACT: There is an emerging literature on the subject of skyscrapers and business cycles. Lawrence (1999) first noticed the correlation between important changes in the economy and

Media

Faculty Panel: Theory and Method

07/25/2024 Paul F. Cwik Lucas M. Engelhardt David Gordon Jeffrey M. Herbener Shawn Ritenour Joseph T. Salerno

This is the Austrian answer to today’s economic controversies. Featuring Paul Cwik, Lucas Engelhardt, David Gordon, Jeffrey Herbener, Shawn Ritenour, and Joe Salerno.

Economics of Interventionism

07/25/2025 Lucas M. Engelhardt

Lucas Engelhardt explores the economics of interventionism, tracing Ludwig von Mises’s core argument that state interference in markets is both self-defeating and inherently unstable.

Game Theory

07/24/2025 Lucas M. Engelhardt

Lucas Engelhardt challenges conventional applications of game theory by integrating the Austrian perspective on entrepreneurship.

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