Working Papers
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Working Paper
Distributive Profiles Associated with Domestic Versus International Specialization in Global Value Chains
Feb 2023
If primary commodities and mid-to-high-tech manufacturing products are produced by industries with different wage shares, there are distributive implications of deepening trade integration with certain regions with respect to others.
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Working Paper
What Next for the Post Covid Global Economy: Could Negative Supply Shocks Disrupt Other Fragile Systems?
Jan 2023
The principal threat to economic stability currently is the overhang of debt, both private and public.
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Working Paper
Monopsony in Professional Labor Markets: Hospital System Concentration and Nurse Wages
Jan 2023
Increased hospital system consolidation in small Metropolitan Statistical Areas is adversely related to nurse wage growth.
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Working Paper
Exorbitant Privilege? On the Rise (and Rise) of the Global Dollar System
Jan 2023
Things are going to break and central banks are going to have to respond, but the mental frame that most people will be using is not well suited for understanding how the world now works
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Working Paper
Myth and Reality in the Great Inflation Debate: Supply Shocks and Wealth Effects in a Multipolar World Economy
Jan 2023
A critical reappraisal of the case in favor of monetary tightening pressed by inflation hawks is overdue.
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Working Paper
Why Economists Should Support Populist Antitrust Goals
Dec 2022
The Consumer Welfare Standard is severely limited or defective, preventing it from being an appropriate standard for modern antitrust.
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Working Paper
Muth鈥檚 Hypothesis Under Knightian Uncertainty
Dec 2022
A Novel Account of Inflation Forecasts
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Working Paper
Separating electricity from gas prices through Green Power Pools: Design options and evolution
Nov 2022
Moving away from fossil fuels, towards a system with a far greater contribution from variable renewables, means that the current system is not fit for purpose.
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Working Paper
Inflation in the Time of Corona and War: The Plight of the Developing Economies
Nov 2022
Fears of 鈥榮tagflation鈥 have come back to haunt macroeconomic policy makers all over the globe
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Working Paper Series
Navigating the Crises in European Energy
Sep 2022
Price Inflation, Marginal Cost Pricing, and Principles for Electricity Market Redesign in an Era of Low-Carbon Transition
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Working Paper Series
China鈥檚 Development Path: Government, Business, and Globalization in an Innovating Economy
Aug 2022
China鈥檚 successful technological development path stands in contrast to the corporate financialization model in the United States
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Working Paper Series
The Role of Public REITs in Financialization and Industry Restructuring
Jul 2022
Real Estate Investment Trusts (REITs) are considered 鈥減assive鈥 investors and are exempt from corporate tax. But in reality, they play a very active role in reshaping whole industries, like healthcare.
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Working Paper Series
Monetary Policy for the Climate? A Money View Perspective on Green Central Banking
Jul 2022
Central banks can encourage climate-friendly investments by offering financial institutions favorable haircuts on green collateral
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Working Paper
Permanent Scars: The Effects of Wages on Productivity
Jul 2022
A persistent regime of low wages may determine very negative long-term consequences on the economy.
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Working Paper Series
Pari Passu Lost and Found: The Origins of Sovereign Bankruptcy 1798-1873
Jun 2022
Pari passu clauses were deliberately crafted to gain an upper hand in sovereign bankruptcy disputes brought to the London stock exchange鈥檚 jurisdiction