Publications

Canonical Austrian business cycle theory holds that a lower rate of interest lengthens the structure of production. Fillieule (2007) derives the opposite conclusion: the average period of production rises with…

When central banks make decisions about inflation, interest rates, or financial stability, they rely heavily on economic research. But where does that research come from? And whose ideas end up…

One of the main promises behind the euro was economic convergence. By sharing a common currency, European economies were expected to become more alike over time, making a single monetary…

For nearly two decades, the European Central Bank has relied on exceptionally low interest rates, massive asset purchases, and generous lending programs to support the economy. These policies were designed…

Monetary policy changes the stability of German banks differently based on their ownership and business goals. Existing literature shows that monetary policies stabilize markets but can also encourage institutions to…

Central banks influence economic debate through research and citations. This paper studies whether citation patterns reflect past colonial ties or present currency hierarchies. Using a bibliometric dataset of 334,750 economics…

Milton Friedman is often quoted as having said something to the effect that inflation is taxation without legislation on multiple occasions during his career (cf. for example Friedman and Friedman…

We revisit the euro’s promise of convergence through a new Divergence Monitor tracking business and financial cycle synchronization since the 1980s. Business cycles became more aligned after 1999, but financial…

The 10th Austrian Economics Meeting Europe will take place at the Université Catholique de l’Ouest (UCO) in Angers (France) from May 28–30, 2026. The conference brings together scholars working in…

For much of the past decade, Europe has been weighed down by prolonged economic stagnation. Growth has slowed, productivity has stalled, and even the continent’s largest economies—Germany and France among…