Recent experience with the coronavirus has raised important questions about the preparedness of governments for such an event. However, an important question as it pertains to preparedness is determining how much a government should be willing to spend each year in order to prevent a pandemic...

The recent experience of high and persistent inflation caught many policymakers and economists by surprise. This naturally raises questions about what caused inflation and why it was so unexpected. In this paper, I argue that the Quantity Theory of Money provides a useful framework for...

Many policymakers and economists are surprised by the recent high and persistent inflation. This naturally raises questions about what caused it and why it was so unexpected. This paper argues that the quantity theory of money provides a useful framework for forecasting inflation. Anyone...