The U.S. coronavirus recession began in late February of 2020 and was over in two months. The rapid recovery was due to the Coronavirus Aid, Relief, and Economic Stability Act (CARES Act), a large fiscal stimulus program initiated in late March 2020, that was accompanied by a strong expansionary...

The aim of this paper is to provide information on how often women direct family expenditures over recreation and travel (Recreation and travel), the extent of their empowerment, and the factors that promote it. Bargaining and feminist theory predict that married women are more empowered to make...

We develop a framework thinking about how to restart and sustain growth and development in Africa. The framework has three themes - politics and institutions, macroeconomic management, and enhancing productivity. We conclude that African governments can begin to overcome regression and decline...

This paper examines the interwar housing cycle in comparison to what transpired in the United States between 2001 and 2011. The 1920s experienced a boom in construction and prolonged retardation in building in the 1930s, resulting in a swing in residential construction's share of GDP, and its...

Economists and psychologists have each puzzled over the nature of decision making and the formation of expectations. Mainstream economists currently base their theory of expectation formation on the assumption of rationality Rationality implies unbiased forecasts and learning from past mistakes....

Thomas Schelling was recognized by the Nobel Prize committee as a pioneer in the application of game theory and rational choice analysis to problems of politics and international relations. However, although he makes frequent references in his writings to this approach, his main explorations and...

In this paper, I consider a body of observational evidence not commonly studied by social scientists, namely the behavior of men and women (mostly men) in the military. I focus here on three issues: first the behavioral foundations for creating an effective military unit; second, evidence that...

This paper examines the interwar housing cycle in comparison to what transpired in the United States between 2001 and 2011. The 1920s experienced a boom in construction and prolonged retardation in building in the 1930s, resulting in a swing in residential construction's share of GDP, and its...

Do economic downturns provide a long term boost to the growth of potential output? The answer, based on an examination of Depression era experience, is nuanced. TFP growth across the 1930s resulted from the confluence of three tributaries. The first was the continuing high rate of TFP growth...