Research Papers

This paper analyzes the early stages of the formation of the Common Market.

This essay deals with the contradictory dynamics that engulfed Europe from 1959 to 1979, the year of the launching of the European Monetary System.

This essay deals with the EMS experience and its failure, with the Maastricht Treaty, and with the interregnum leading to the formation of the EMU in 1999.

Policy hype but vintage fiscal economics from Godley, Lerner, and Keynes

How antitrust law is ill-equipped to address tech mergers

The Chicago School has long used bankrupt assumptions to strangle antitrust policy.

We adapt simple tools from computational linguistics to construct a new measure of political risk faced by individual US firms: the share of their quarterly earnings conference calls that they devote to political risks.

It was too good to be true: Another effort to vindicate austerity falls victim to flawed methodology.

Frequent civil conflicts in African countries may erode national identity, thus highlighting a reason why civil conflict is costly for growth and development

A report of the Commission on Global Economic Transformation’s subcommittee on Macroeconomics & Finance

A report of the Commission on Global Economic Transformation’s subcommittee on Inequality, Technology, and the Future of Work

Everyone is waking up to the fact that estimates of what is possible in the economy are way off: this paper explains why

This paper presents an historical analysis of the antitrust laws.

Why Italy’s woes are a warning to the whole Eurozone

Prisoners employed in manufacturing constitute 4.2% of total U.S. manufacturing employment in 2005; they produce cheap goods, creating labor demand shock.