One of the most common myths in European economic history, and indeed in Economics itself, is that the Black Death of 1347-48, followed by other waves of bubonic plague, led to an abrupt rise in real wages, for both agricultural labourers and urban artisans – one that led to the so-called...

The late Prof. Hans Van Werveke, in two very contentious articles, had contended that the monetary policies of Count Lodewijk van Male (Louis de Male) 'had checked, for some time at least, the decay of the Flemish cloth industry' by allowing its industrial entrepreneurs (weaver-drapers) to pay...

The paper delineates the properties and specificities of modern Croatian money-market transactions and their transition as well as the Solutions applied in this segment by the Republic of Croatia from the moment of declaration ofits in dependence up to nowadays. Such a contemporary monetary...

This paper seeks to provide a new and chiefly monetary explanation for the origins of the sixteenth-century era of sustained inflation (c.1520 - c.1640) commonly known as the Price Revolution'; and in particular it provides an answer to the question: not, as traditionally posed, why did the...

Deciding to undertake a series of tightening actions present unique challenges for Federal Reserve policymakers. These challenges are both political and economic. Using a variety of economic and financial market metrics, this article examines how the economy and financial markets evolved in...

As much of the world grapples with post-Covid price gouging, it seems like a good time to revisit our understanding of inflation. In this post, I’m going to test Jonathan Nitzan and Shimshon Bichler’s ‘stagflation thesis’. The idea is that ‘stagflation’ — economic stagnation...

Der Preisniveauschock ab 2021, der vor allem durch den Krieg in der Ukraine ausgelöst wurde, stellt die Lohnpolitik vor schwierige Herausforderungen. Theoretische und empirische Überlegungen zeigen, dass für alle Arbeitnehmer eine Überwälzung der Wohlfahrtsverluste, die durch die...

Institutions like the IMF, the ECB and many finance ministries and private banks in the world's richest countries are sending out unequivocal calls for strict control of prices to be addressed urgently, given their intrinsic relationship with how the budget deficit and government debt evolve....

The Uruguayan pension system has been recorded as one of the most advanced in the region, being a pillar of the protection policies of the country. However, the financial crisis of the system and the discussions about the cost of social security has been a constant in the national debate. In...

Institutions like the IMF, the ECB and many finance ministries and private banks in the world's richest countries are sending out unequivocal calls for strict control of prices to be addressed urgently, given their intrinsic relationship with how the budget deficit and government debt evolve....