We consider the provision of deposit insurance as the outcome of a non-cooperative policy game between nations. Nations compete for deposits in order to protect their banking systems from the destabilizing impact of potential capital flight. Policies are chosen to attract depositors who...

The Human Development Index (HDI) is widely used as an aggregate measure of overall human well-being. We examine the allocations implied by the maximization of this index using a standard growth model. Maximization of the HDI leads to consumption (excluding education and health expenditures)...

We examine a decentralized monetary economy in which households can use a means of exchange (barter or gold) other than fiat money. The alternative means of exchange may drive out money even if monetary exchange Pareto dominates. Legal restrictions prohibiting other means of exchange may...