goods. But available evidence is at least as consistent, if not more so, with an alternative where individuals are 'time … or more higher than that implied by the traditional model. And we estimate that cigarette excise taxes are much less …

valuable consumption and production goods. As Hahn (1965) shows, this situation puts fiat money's market value or liquidity …. I call this view the Price Theory of Money; (2) fixed-income assets linked to fiat money, especially if they are …

theory of law, our finding that the public courts do not automatically generate efficient rules is disappointing, since it … strongly influenced by economic considerations and explicable in economic terms, is evidence that economic theory has a major …

Obstfeld and Rogoff (2000) have reinvigorated an old literature on the link between home bias in the goods market and … home bias in the asset market by arguing that trade costs in the goods market can account for the observed portfolio home … different expenditure allocation across countries, which leads to different inflation rates when measured in the same currency …

Many papers in the recent literature in open economy macroeconomics make different assumptions about the currency in … which firms set their export prices when nominal prices must be pre-set. But to date, all of these studies take the currency … can choose the currency in which they set prices for sales to foreign markets. We make two alternative assumptions about …