WHO IS AFRAID OF THE FRIEDMAN RULE?

Who Is Afraid of Randomness?

We finally understand. Things are the way they are because they can't be otherwise. Ivar Ekeland

Who is afraid of Staphylococcus?

The continent of Africa has an extraordinary richness of flora, and a tradition of herbal or traditional medicines 1 . The low cost and high acceptance 2 of, and ease of access 3 to such ‘therapies’ make them the most common form of African alternative medicine. However, only a relatively small number of plant species and their extracts have been studied 4 , with minimal information available r...

Who is Afraid of the “Precautionary Principle”?

Implementing the Friedman Rule

In cash-in-advance models, necessary and sufficient conditions for the existence of an equilibrium with zero nominal interest rates and Pareto optimal allocations place restrictions only on the very long-run, or asymptotic, behavior of the money supply. When these asymptotic conditions are satisfied, they leave the central bank with a great deal of flexibility to manage the money supply over an...

Who is Afraid of Political Instability?

An unstable macroeconomic environment is often regarded as detrimental to economic growth. Among the sources contributing to such instability, the literature has assigned most of the blame to political issues. This paper empirically tests for a causal and negative long-term relation between political instability and economic growth, but finds no evidence of such a relationship. Sensitivity anal...