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The literature connecting economic freedom indexes to income levels and growth generally points in the direction of a positive association. In this paper, we argue that this finding is a highly conservative as the data is heavily biased against finding any effects. The bias emerges as a result...
Persistent link: https://www.econbiz.de/10014260233
Attempting to find the technically optimal monetary policy is futile if the Fed's independence is undermined by political influences. Nobel Laureates F.A. Hayek, Milton Friedman, and James Buchanan each sought ways to constrain and/or safeguard the Fed from political pressures over their...
Persistent link: https://www.econbiz.de/10013038259
n the midst of the current financial crisis the economics profession has seen a monumental resurrection of Keynesian ideas. The debate, which Keynes started back in the 1930s, is being picked up again, not where it left off, but in exactly the same place it started. While Keynesian theories were...
Persistent link: https://www.econbiz.de/10013115212
This paper explores James Buchanan's contributions to monetary economics and argues these contributions form the foundation of a robust monetary economics paradigm. While often not recognized for his contributions to monetary economics, Buchanan's scholarship offers important insights for...
Persistent link: https://www.econbiz.de/10012935280