Working Papers
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Working Paper
Muth’s Hypothesis Under Knightian Uncertainty
Dec 2022
A Novel Account of Inflation Forecasts
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Working Paper
Separating electricity from gas prices through Green Power Pools: Design options and evolution
Nov 2022
Moving away from fossil fuels, towards a system with a far greater contribution from variable renewables, means that the current system is not fit for purpose.
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Working Paper
Inflation in the Time of Corona and War: The Plight of the Developing Economies
Nov 2022
Fears of ‘stagflation’ have come back to haunt macroeconomic policy makers all over the globe
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Working Paper Series
Navigating the Crises in European Energy
Sep 2022
Price Inflation, Marginal Cost Pricing, and Principles for Electricity Market Redesign in an Era of Low-Carbon Transition
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Working Paper Series
China’s Development Path: Government, Business, and Globalization in an Innovating Economy
Aug 2022
China’s successful technological development path stands in contrast to the corporate financialization model in the United States
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Working Paper Series
The Role of Public REITs in Financialization and Industry Restructuring
Jul 2022
Real Estate Investment Trusts (REITs) are considered “passive” investors and are exempt from corporate tax. But in reality, they play a very active role in reshaping whole industries, like healthcare.
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Working Paper Series
Monetary Policy for the Climate? A Money View Perspective on Green Central Banking
Jul 2022
Central banks can encourage climate-friendly investments by offering financial institutions favorable haircuts on green collateral
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Working Paper
Permanent Scars: The Effects of Wages on Productivity
Jul 2022
A persistent regime of low wages may determine very negative long-term consequences on the economy.
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Working Paper Series
Pari Passu Lost and Found: The Origins of Sovereign Bankruptcy 1798-1873
Jun 2022
Pari passu clauses were deliberately crafted to gain an upper hand in sovereign bankruptcy disputes brought to the London stock exchange’s jurisdiction
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Working Paper
Inflation in the Time of Corona and War
Jun 2022
Are there alternative, less socially costly, ways to bring inflation down?
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Working Paper
Setting the Record Straight on the Libertarian South African Economist W. H. Hutt and James M. Buchanan
Jun 2022
Despite his opposition to South Africa’s apartheid, Hutt embraced notions of black inferiority
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Working Paper Series
Government Deficits and Interest Rates: A Keynesian View
Apr 2022
Contrary to the neoclassical loanable funds theory, historical bond yields show Keynes was right that “convictions” anchor long-term interest rates
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Working Paper
Investing in Innovation: A Policy Framework for Attaining Sustainable Prosperity in the United States
Apr 2022
Business firms are not alone in making investments in the productive capabilities required to generate innovative goods and services. Household units and government agencies also make investments in productive capabilities upon which business firms rely for their own investment activities.
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Working Paper Series
An Economic Defense of Multiple Antitrust Goals: Reversing Income Inequality and Promoting Political Democracy
Mar 2022
The Consumer Welfare Standard of antitrust is outdated and defective
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Working Paper Series
After the Allocation: What Role for the Special Drawing Rights System?
Mar 2022
How could the new SDR allocation help developing countries?