In studies concluding that public debt may hamper GDP growth, the debt tipping effects are estimated as if there were a single global currency. This means that such studies ignore the likely biggest cause of changes in growth rates, namely damage from exchange rate liquidity shocks because we do...

The thesis of this paper is that there is no historical precedent for Europe's monetary union (EMU). While it is possible to point to similar historical experiences, the most obvious of which were in the 19th century, occurred in Europe, and had “union†as part of their names, EMU...

We examine Trevon Logan's 2009 claim to have found low levels of nutrition among British worker's households in the late 19th century. Using the same data, we conclude that Logan's estimates are thirty percent too low. Logan buttressed his estimates by claiming that the income elasticity of...