The institutional arrangements governing the creation of money in the United States have changed dramatically since the Revolution. Yet beneath the surface the story of wartime money creation has remained much the same. During wars against minor powers, the government was able to fund the war by...

Why does inequality vary across societies? We advance the hypothesis that in a market economy, where earning differentials reflect variations in productive traits, a significant component of the differences in income inequality across societies can be attributed to variation in societal...

This paper investigates effects of forced marriages in the Pol Pot regime on educational investments for their children. Specifically, we focus on the difference in educational investments between the couples who faced different social environments under the Pol Pot regime. Using the complete...