. Investment, not exports, emerges as the proximate source of the French economy's resistance to the Great Depression. And fiscal … policy emerges as the major determinant of the surge in French investment spending. Previous accounts have emphasized the … fluctuations in the decade after 1921. In contrast, we argue here for a more balanced view of the roles of monetary and fiscal …

functions of money. So-called stable coins are intended to bridge this gap, but whether they can be successfully scaled up and …

In an open economy, savings- and investment-promoting policies may have very different effects on the capital account … effects in both the short and long run. We focus on the different effects of savings- and investment-promoting U.S. tax … fundamentally depending on the degree of international capital mobility. In the absence of such mobility, savings- and investment …

investment goods. A long view from economic history is most supportive of the last of these four views …Four explanations for secular stagnation are distinguished: a rise in global saving, slow population growth that makes … investment less attractive, averse trends in technology and productivity growth, and a decline in the relative price of …

demand for tax smoothing and public investment. Governments whose ability to provide such services is limited may therefore …