This paper shows that so-called modern monetary theory (MMT) lacks a sound economic foundation for its far-reaching policy recommendations. This paper's main contribution to the literature concerns the theoretical foundation of MMT. A simple macroeconomic model shows that MMT is...

Despite some indications to the contrary, religion still plays an important role in contemporary society. In this paper, the association between religion and the quality of public goods and services, measured by the so-called “delivery quality” index of the Worldwide Governance Indicators...

An evolutionary model of European football was applied to analyze a two-stage indirect evolution game in which teams choose their utility function in the first stage, and their optimal talent investments in the second stage. Given the second-stage optimal aggregate-taking strategy (ATS) of...