This paper provides a critique on “The Effects on Output of Money Growth and Interest Rate Volatility in the United States” by Paul Evans and offers alternative measures of interest rate variability as well as for money growth variability. These alternative measures were then used to conduct...

In this paper, we examine whether energy prices are cyclical and begin by looking at why the price of any good would be cyclical. With few explainable and largely insignificant exceptions, we find that energy prices are not responsive to the U.S. business cycle. We find that crude oil and...

Milton Friedman, one of greatest economists of all time, died on November 16, 2006 at age 94. He was famous for his conclusion that “inflation is always and everywhere a monetary phenomenon,” and for the related notion that ultimately the only thing a central bank, such as the Federal...