Two decades of financial crises have dramatically expanded central banks’ powers. In 2008, and then again in 2020, unelected banking officials found themselves suddenly responsible for the public welfare – not just because it was necessary but based on an idea that their independence from...

The ability to finance conflict likely affects the odds of sustaining a war and succeeding in it. Recent literature explores rebel group funding, but far less is known about how states finance their own war efforts. This paper posits that the design of central banks should affect civil war...

The ability to finance conflict likely affects the odds of sustaining a war and succeeding in it. Recent literature explores rebel group funding, but far less is known about how states finance their own war efforts. This article posits that the design of central banks should affect civil war...