The U.S. Congress issued paper money called Continental Dollars to finance the American Revolution. The story of the Continental Dollar is familiar to all -- a lot were issued and hyper-inflation ensued. However, the details of this story are less well known. Scholars even disagree over how much...

For the six major British North American colonies, five of whom independently issued their own fiat paper money, exchange rates between these colonies are constructed and combined with price indices to test purchasing power parity between these colonies. Purchasing power parity is then tested...

The U.S. Congress issued paper money called Continental Dollars to finance the American Revolution. The story of the Continental Dollar is familiar to all -- a lot were issued and hyper-inflation ensued. However, the details of this story are less well known. Scholars even disagree over how much...

The monetary powers embedded in the U.S. Constitution were revolutionary and led to a watershed transformation in the nation’s monetary structure. They included determining what monies could be legal tender, who could emit fiat paper money, and who could incorporate banks. How the debate at...

Convicts account for at least one-quarter of British migration to mid-eighteenth-century America. Their transportation to and disposal in America was essentially an experiment in privatizing post-trial criminal justice. A model of this trade is developed that yields testable implications...