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Bimetallism Revisited

By Milton Friedman

Journal of Economic Perspectives, Fall 1990

Until recently, I shared what I take to be the conventional view of monetary economists about the relative merits of bimetallism and gold monometallism: namely, that bimetallism is an unstable and unsatisfactory monetary standard involving frequent shifts...

Offshoring in a Ricardian World

By Andrés Rodríguez-Clare

American Economic Journal: Macroeconomics, April 2010

This paper proposes a Ricardian model to understand the short-run and long-run aggregate effects of increased fragmentation and offshoring on rich and poor countries. The short-run analysis shows that, when offshoring is sufficiently high, further incr...

How Costly Is Protectionism?

By Robert C. Feenstra

Journal of Economic Perspectives, Summer 1992

How costly is protectionism? This paper begins from a U.S. perspective, examining the costs to both the U.S. and other countries from U.S. protectionism. It emphasizes that substantial costs are imposed on foreign countries by U.S. protectionism. These co...

(Over)insuring Modest Risks

By Justin Sydnor

American Economic Journal: Applied Economics, October 2010

Despite the large literature on anomalies in risky choice, very little research has explored the relevance of these insights in real insurance markets. This paper uses new data on consumers' choices of deductibles for home insurance to provide evidence t...