Monetarists blamed fluctuations in inflation on excessively volatile growth in monetary aggregates. The data supported this hypothesis until 1982. Since 1983 monetary aggregates have been essentially uncorrelated with subsequent inflation in the US. Kochin (1973) argued that well designed...

This paper investigates the impact on health outcomes of the regulation prohibiting physicians from prescribing drugs without a prior physical examination. This requirement could improve health by reducing illegal access to prescription drugs. But it reduces access to health care by making it...

Modern naval warfare is the exclusive province of government. Until relatively recently, however, governments tolerated — even encouraged — private sector participation in maritime hostilities. Naval and merchant vessels were not strongly differentiated from one another, and neither type of...