Corporate market power has risen in recent decades, and new estimates in this note suggest that the likely wave of small and medium-sized enterprise bankruptcies from the ongoing pandemic will further strengthen market concentration. Whether and how policymakers should address this issue is...

Counterfeit money is the topic of television, movies, and lore but hardly seen by most of us - for only about one in ten thousand notes is found to be counterfeit, annually, in the USA (Judson and Porter 2003). And while the value of globally seized and passed counterfeit American dollars has...

To ensure free access to a patented innovation while protecting the patentee’s profit, I would like to propose new legislation of patents, in which the International Central Bank would supply the Intellectual Property Currency. The Currency would enhance innovations based on the concept of...