Scientific Observations on Financial Markets
The Big Problem of Small Change offers the first credible and analytically sound explanation of how a problem that dogged monetary authorities for hundreds of years was finally solved.
"Even though bailouts mitigate the adverse effects of banking crises, we find that the economy is ex ante better off without bailouts: the ‘diabolic loop’ they create is too costly."
"How credible is central bank research? The answer matters for the policymakers who use the research and for the taxpayers who fund it."
A comprehensive analysis of European craft guilds through eight centuries of economic history
Cascaldi-Garcia, Danilo, Cisil Sarisoy, Juan M. Londono, John Rogers, Deepa Datta, Thiago Ferreira, Olesya Grishchenko, Mohammad R. Jahan-Parvar, Francesca Loria, Sai Ma, Marius Rodriguez, and Ilknur Zer