We study the effects of inflation in models with various trading frictions. The framework is related to recent search-based monetary theory, in that trade takes place periodically in centralized and decentralized markets, but we consider three alternative mechanisms for price formation:...

In October 2008, Iceland's banking system collapsed. Within a week, the three major banks comprising ninety percent of the Icelandic banking system had failed. A long-running dispute on who ought to pay for the deposits in failed Icelandic banks has poisoned relations between Iceland, the United...

According to the Monetary Gold principle, the the International Court of Justice (ICJ) will not exercise its jurisdiction where the legal interests of a third state ‘would form the very subject-matter of the decision'. This principle has been interpreted narrowly by the ICJ and therefore only...