"Are You Prepared For a Return of Prolonged '70s Style Inflation? In Inflation: The Silent Retirement Killer, Dr. David Phelps examines inflation throughout history, and reveals why the government needs inflation to fund their reckless borrowing and nanny-state promises. Dr. Phelps also exposes...

Nudges are popular instruments in the toolbox of policymakers. Yet, empirical evidence suggests some of these interventions can influence decisions which were not initially targeted, raising the risk to undermine their effectiveness. To analyse such spillover effects, I develop micro-foundations...

Recent studies investigate policies motivating consumers to make an active choice as a way to protect unsophisticated consumers. We analyse the optimal timing of such choice-enhancing policies when a firm can strategically react to them. In our model, a firm provides an automatic enrollment or...

There are increasingly many digital alternatives to physical cash as basic means of payment, many of these offered by non-financial private sector actors. While such a trend towards a cashless society brings the convenience of digital payments to users and can encourage innovation in financial...

The stock market volume decreases in anticipation of FOMC announcements and increases afterward. I find, in the cross-section, that stocks with higher market risk exposure experience greater volume changes. I also find that volume dynamics around FOMC announcements are unlikely to be...

Consumer bankruptcy regulation in the United States as well as in many other countries allow consumers to petition for a partial debt discharge. Usually, a debt release is possible when the debtor behaves in the creditors' best interest, and after filing for bankruptcy, signs over her entire...