created by James Caton |

Markets are not convinced that the Federal Reserve will live up to its new average inflation target. Expected annual inflation is around 1.8%, depending on the measure employed. An expected inflation...

created by Austin Cherkas |

With the 2020 Presidential Election looming ever closer, voters must decide between republican President Donald Trump and democratic presidential nominee Joe Biden. These two candidate appear to...

created by Veeshan Rayamajhee and Pablo Paniagua |

Following the work of Paul Samuelson, many economists have assumed that whenever markets struggle to provide certain public goods and services, the state should aid their production. This simplistic...

One of the great challenges in doing empirical research is trying to determine what might have happened under different circumstances.

Take the question of whether or not legalizing recreational...

created by Raymond March |

In a surprising memo released last month by Secretary of Health and Human Services Alex Azar, federal agencies under the umbrella of his department are now prohibited from passing additional...

created by Raymond March |

As Covid-19 began to spread through the United States in February, many feared hospitals would become overwhelmed with infected patients. To meet the demands a global pandemic places on our healthcare...

created by James Caton |

The Fed can generate inflation. Perhaps that seems obvious. After all, the Fed can create money at essentially zero marginal cost. But the point has been disputed. Several decades ago, a generation of...

created by Veeshan Rayamajhee and Pablo Paniagua |

In her 2009 Nobel lecture, Elinor Ostrom underscored the following point: if we continue to presuppose two optimal organizational forms (markets or states), two types of goods (private or public), and...

created by Raymond March |

In the nearly eight months since Covid-19 arrived in the United States, the country has undergone extensive lockdowns, trying economic hardship, and prolonged social isolation. Despite these...

created by James Caton |

On Thursday, August 27, Jerome Powell announced that the Federal Reserve is changing policy on two counts. First, the Federal Open Market Committee (FOMC) will now target the average rate of...

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