Debates about the nature and economic role of money are mostly informed by evidence from the 20th century, but money has existed for millennia. We argue that there are many lessons to be learned from monetary history that are relevant for current topics of policy relevance. The past acts as a...

We exploit a recurring natural experiment to identify the effects of money supply shocks: maritime disasters in the Spanish Empire (1531-1810) that resulted in the loss of substantial amounts of monetary silver. A one percentage point reduction in the money growth rate caused a 1.3% drop in real...

Physical distancing reduces transmission risks and slows the spread of COVID-19. Yet compliance with shelter-in-place policies issued by local and regional governments in the United States was uneven and may have been influenced by science skepticism and attitudes towards topics of scientific...

In combating the spread of COVID-19, some governments have been reluctant to adopt lockdown policies due to their perceived economic costs. Such costs can, however, arise even in the absence of restrictive policies, if individuals' independent reaction to the virus slows down the economy. This...