We revisit the unintended consequences of the European Central Bank's (ECB) low-interest rate policies with a focus on the periphery countries of the European Union (EU) since the 2000s from a modern Austrian perspective. We argue that convergence expectations and the ECB's expansionary monetary...

I study the economies of Colombia (floating exchange rate) and Panama (dollarized) to illustrate how the monetary policy of a large economy can export capital structure distortions to small open economies that follow a different exchange rate regime. If these distortions bear enough weight, then...

In this article, I study the effects of U.S. monetary policy on Latin America's production structure prior to two recent economic crises. In particular, I study the effects of monetary policy on the real economy at the industrial level. I find that changes in the Federal Funds rate produce...

This paper uses a Synthetic Control Analysis to examine the economic effectiveness of dollarization in Ecuador. We address common concerns surrounding the adoption of dollarization as a policy and provide several solutions to those concerns. We find that dollarization resulted in significant...