Academic Papers
Peer-reviewed research and scholarly works examining monetary systems, banking theory, economic history, and proposals for monetary reform.
The Chicago Plan Revisited
Authors: Jaromir Benes, Michael Kumhof
Journal: IMF Working Paper
A modern analysis of the 1930s Chicago Plan for full-reserve banking, showing how it could eliminate bank runs, reduce business cycles, and cut public debt.
Read PaperDebt-Deflation Theory of Great Depressions
Authors: Irving Fisher
Journal: Econometrica
Fisher's seminal work explaining how debt liquidation leads to distress selling, falling asset prices, and economic contraction in a self-reinforcing cycle.
Read PaperCan Banks Individually Create Money Out of Nothing?
Authors: Richard Werner
Journal: International Review of Financial Analysis
Empirical demonstration that banks create money through credit extension, challenging conventional views of banking and money creation.
Read PaperThe Great Depression and the Friedman-Schwartz Hypothesis
Authors: Lawrence H. White
Journal: Journal of Money, Credit and Banking
Critical examination of the role of Federal Reserve policy in causing and prolonging the Great Depression.
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