The current financial crisis has drawn attention to consumers' use of the home equity line of credit (HELOC) to finance consumption. Although many economists have repeatedly noted that such borrowing fueled additional consumption, attempts to quantify the boost to consumer spending have been...

Competitive market forces can improve the means of payment in the same way that market forces improve virtually all goods and services. Furthermore, the overall historical record highlights the importance of preserving citizens' ability to use whichever form of money they choose. The current tax...

Although several researchers have examined the impact of copying in other contexts, relatively little theoretical work exists that allows for the presence of a profit maximizing music industry as an intermediary between the creators of intellectual property and consumers. This paper develops a...