Joplin, Missouri, and Tuscaloosa, Alabama, were both devastated by deadly tornadoes in 2011, but have pursued different approaches to recovery. Tuscaloosa followed the new normal path of developing a detailed recovery plan, while Joplin eschewed planning and allowed businesses and homeowners to...

One of the lingering questions for development economists is the question of economic transition and whether or not development can be promoted by a strong political leader. Earlier writings on leadership and economic development tend to fall into one of two camps: (1) Leaders matter and can...

We assess the impact of two groups of economists; mainline economists, who regard economics primarily as the science of exchange and mainstream economists, who perceive economics primarily as the science of choice. To control for scholarly quality we investigate the citation impact of Nobel...

Attempting to find the technically optimal monetary policy is futile if the Fed's independence is undermined by political influences. Nobel Laureates F.A. Hayek, Milton Friedman, and James Buchanan each sought ways to constrain and/or safeguard the Fed from political pressures over their...

How do political environments influence the behavior of economists who transition from academic and business environments to policymaking positions? And, more specifically, are an economist's preexisting beliefs and principles congruent with their policy stances and actions once they transition...

Payday lenders have increasingly received public and regulatory scrutiny. By their nature, payday lenders are in the business of providing short-term, unsecured loans to financially vulnerable individuals, often with high financing fees that amount to triple-digit annual percentage rates (APR)....

While often advanced as a means to protect consumers, occupational licensing is increasingly being recognized as a barrier to entry that benefits the licensed industry to the detriment of consumers. Furthermore, it often restricts economic mobility, especially among minority groups. Given that...

The declining financial health of public pension systems is increasingly becoming a budget concern for many state and local governments. While the academic literature has identified several factors behind the growth in unfunded state and local public pension liabilities, there is mixed evidence...

Despite the widespread adoption and strict enforcement of balanced budget requirements, U.S. state and local governments have accumulated trillions in unfunded pension liabilities. While many casual factors for this growth in unfunded liabilities, including liberal discount rates and inadequate...