We derive forecast confidence bands using a Global Projection Model covering the United States, the euro area, and Japan. In the model, the price of oil is a stochastic process, interest rates have a zero floor, and bank lending tightening affects the United States. To calculate confidence...

This paper identifies the extent to which James Buchanan's interpretation of Knut Wicksell's unanimity rule, as spelled out in the second essay in "Finanztheoretische Untersuchungen" (1896), has come to dominate the public economics literature despite competing with the interpretation offered by...

This study examines the link between consumer expenditures and the Conference Board's Index of Consumer Attitudes, an index highly regarded for some time as a useful leading indicator of consumer expenditures. However, the theory that identifies why it may be useful in an analysis of consumption...

This paper describes an internationally-oriented course module for intermediate microeconomics. We describe the collaboration project as well as the results of implementing it at an US and Peruvian university. In the project, US university students were partnered with comparable students at a...

Purpose – Wicksell's contributions to welfare economics are viewed as largely aligned with Pareto efficiency and James Buchanan's work in public choice. This conflicts with the Scandinavian representation of Wicksell as the forefather of the modern Swedish socialist economy. The purpose of...

We derive forecast confidence bands using a Global Projection Model covering the United States, the euro area, and Japan. In the model, the price of oil is a stochastic process, interest rates have a zero floor, and bank lending tightening affects the United States. To calculate confidence...

FRONT COVER -- ECONOMIC THEORY BY TAUSSIG, YOUNG, AND CARVER AT HARVARD -- COPYRIGHT PAGE -- CONTENTS -- PART I: CORRESPONDENCE BETWEEN FRANK H. KNIGHT, WALTER B. SMITH, AND F. TAYLOR OSTRANDER, 1933-1937 -- PART II: MAURICE BECK HEXTER'S NOTES FROM HARVARD UNIVERSITY, 1921-1922 -- INTRODUCTION...