Working Papers
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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鈥檚 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 鈥渃onvictions鈥 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The Consumer Welfare Standard of antitrust is outdated and defective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?
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Working Paper Series
Measuring the Impact of Campaign Finance on Congressional Voting: A Machine Learning Approach
Mar 2022
Using aggregate campaign finance data as well as a Transformer based text embedding model we can predict roll call votes for legislation in the US Congress with more than 90% accuracy.
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Working paper
Equality Denied: Tech and African Americans
Feb 2022
EEO-1 employment data document the vast over-representation of Asian Americans and vast under-representation of African Americans at tech companies in recent years. How did this happen?
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Working Paper Series
Pricing for Medicine Innovation: A Regulatory Approach to Support Drug Development and Patient Access
Feb 2022
US regulators can step in to ensure drug pricing both supports patient access and drug development
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Working Paper Series
Why Diagnostic Expectations Cannot Replace REH
Jan 2022
A formal argument that Kahneman and Tversky鈥檚 compelling empirical findings, and those of other behavioral economists, do not provide a basis for a general approach to specifying participants鈥 鈥減redictable errors.鈥
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Working Paper Series
Industrial Feudalism and Wealth Inequalities
Jan 2022
In a society where asset ownership is incredibly unequal, social mobility become severely diminished
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Working Paper Series
The Changing Shape of the World Automobile Industry: A Multilayer Network Analysis of International Trade in Components and Parts
Jan 2022
The pandemic and electrification are shaking the foundations of the auto industry
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Working Paper
Asset Prices Under Knightian Uncertainty
Dec 2021
A tractable formalization of the Knightian uncertainty faced by an economist and market participants in an intertemporal asset-price model.
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Working Paper Series
Can Panel Data Methodologies Determine the Impact of Climate Change on Economic Growth?
Dec 2021
Some cautionary remarks