- The determination of monetary and fiscal policies, which depend as much on political influences and private incentives as on economic theory. The strong continuities in economic policies are derived from those in private incentives, as evidenced by:
A History of Central Banking in Great Britain and the United States, Cambridge University Press, 2005.
A History of Macroeconomic Policy in the United States, Routledge, 2009.
“Monetary policy and the Great Depression,” Working Paper.
- The quantity theory of money: Monetary theory in the 19th century and today.
“Gold and the quantity theory,” WP
- The Great Depression
“The great deflation of 1929-33 (almost) had to happen,” WP.
- William McChesney Martin, Jr.
A study of his political and economic genius displayed at the New York Stock Exchange, the U.S. Treasury, and the Federal Reserve.
This research is considered in my courses and blog (John Wood’s Policy Watch). Field work is conducted at Wrigley Field (above) and elsewhere.