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Research, Talks and other Presentations

My current resume.

My Latest Global Economics Column on Substack

Global Economics: https://globalecon.substack.com/

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Academic Research

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Working Papers

  • "Populist Walking Sticks: Redefining Growth Stories in Populist Economies" [With Ege Asutay and Andreas Freytag] 2024 Draft to be presented at 2025 Public Choice Society Meetings
    Abstract: Populist policies are known to often generate a walking stick pattern of high output growth and low inflation followed by low growth and high inflation. Traditionally, researchers have viewed this as resulting primarily from populist monetary and fiscal policies that ignore intertemporal budget constraints. We show that this same walking stick pattern can also be driven by real-sector
    reallocative policies that are a direct manifestation of populist ideology.
    Using an open economy, monetary Romer (1990) endogenous growth model, we show that the real re-allocation of workers away from jobs perceived as “elite” – here modelled as researchers – to manufacturing industries generates an initial output boom but lowers productivity growth, causing a subsequent decline. Basic monetary policy that respects intertemporal budget constraints in this
    environment still generates all the classic, Dornbusch & Edwards (1990), populist patterns: boom-bust output cycles, low-high inflation, and trade deficits followed by capital flow reversals.
    We use the model along with recent political economy research such as Funke et al. (2023) as well as recent political science contributions to organize the data as well as test its implications using Vector Autoregressions (VAR) on a sample of populist and non-populist governments from the early 20th Century until today. Our empirical results support that the model and it’s real-policy implications
    provide useful insights for understanding populism and its macroeconomic effects.

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  • "Adding Outside Money to Sidrauskian Models: Mechanisms Matter", 2023 Draft.  Currently under revision.
    Abstract: The Sidrauski (1967) model in much monetary research even today. His mechanism to add outside money to the model leads to specific conclusions that focus on the role of money but not on the role of monetary policy in economies. This paper focuses on the “monetary mechanisms” possible in Sidrauski’s original model. It explores three possible mechanisms in Sidrauski-models: (1)via net fiscal transfers, (2) via commodity exchanges, and (3) via capital exchanges. The results show that his original formulation was both unrealistic and infeasible for the conduct of monetary policy, especially from a central bank balance sheet perspective. Adding money instead through government purchases of real-valued goods or capital leads to a natural role for the balance sheet of the central bank helping to make sense of traditional  monetary regimes and provide insights to modern regimes.

  • "150 Years of Inflation: An FTPL Perspective". 2024 Draft. [With Jack French and Daniel Hogan]

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​Published Research

 

Book Chapters:

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Non-Academic Writing​

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Lectures & Speeches

(I'm trying to do better writing up and posting my talks. Please bear with me.)

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Economic/Professional

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TV and Written Interviews

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Honorary Hungarian Consul

  • "The Tangible and Intangible Threats to Freedom" (PDF), talk given for the 1956 Anniversary at the Hungarian House in Wallingford, CT. October 25, 2021

  • My Remarks on the 61st Anniversary of the Hungarian 1956 Revolution and Freedom Fight (October 22, 2017 in Wallingford, CT, USA)

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