Academic Publications
 

"The Calculus of Dissent: Bias and Diversity in FOMC Projections," Public Choice 191: 105–135. 2022.

"Bank Lending and Interest on Excess Reserves: An Empirical Investigation," Journal of Macroeconomics 69: 103333. 2021.

"Hayek, Cassel, and the Origins of the Great Depression" (with Lawrence H. White) Journal of Economic Behavior & Organization 181: 241-251. 2021.

"The Federal Reserve’s Response to the COVID-19 Contraction: An Initial Appraisal," (with Nicholas Cachanosky, Bryan P. Cutsinger, William J. Luther, and Alexander W. Salter) Southern Economic Journal 87(4): 1152-1174. 2021. 

"A Review of the Regulatory Impact Analysis of Risk-Based Capital and Related Liquidity Rules," Journal of Risk & Financial Management, 14(1): 1-29. 2021.

"Suboptimal Equilibria from Nominal GDP Targeting" (with William J. Luther) Journal of Private Enterprise 35(2): 61-78. 2020.

"War, Money, and Economy: Inflation and Production in the Fed and pre-Fed Periods" (with Daniel J. Smith) Review of Austrian Economics. Forthcoming.

"Has Dodd-Frank affected bank expenses?" (with Scott Burns) Journal of Regulatory Economics, 55(2): 214–236. 2019.
 
"Endogenous Matching and Money with Random Consumption Preferences" (with William J. Luther) B.E. Journal of Theoretical Economics, 19(2): 1-9. 2019.
 

"Expectations and NGDP Targeting: Supply-Side Problems with Demand-Side Policy" (with Alexander William Salter) Journal of Private Enterprise, 34(3): 89-106. 2019. 

"Central Banking Without Romance" (with Daniel J. Smith and Robin Aguiar-Hicks) European Journal of Comparative Economics 15(2): 293-214. 2018.
 
"Evaluating Risk-based Capital Regulation" (with Neil Meredith and Harry Pan) Review of Financial Economics, 36:83–96. 2018. 

 
"The Political Economy of Bitcoin" (with Joshua Hendrickson and William J. Luther) Economic Inquiry, 54(2): 925–939. 2016   

"Risk and Risk-Based Capital of U.S. Bank Holding Companies" (with Neil Meredith) Journal of Regulatory Economics, 49(1): 86-112. 2016.  

"Alternatives to the Federal Deposit Insurance Corporation" (with Kristine Johnson) The Independent Review, 20(3): 433-454. 2016.
 

"The Implicit Costs of Government-Provided Deposit Insurance" (with William J. Luther) Journal of Private Enterprise, 31(2) Summer 2016: 1-13.
 

“Banking Regulations and Knowledge Problems” (with G.P. Manish) Advances in Austrian Economics, 20: 213-234. 2016.

"Ben Bernanke and Bagehot's Rules" (with Rachel Le and Alex Salter) Journal of Money, Credit and Banking, 47(2-3): 333-348. 2015.
 

"Has the Fed Improved U.S. Economic Performance?" Journal of Macroeconomics, 43(2015): 257-266. 2015.

"Capital and Risk in Commercial Banking: A Comparison of Capital and Risk-based Capital Ratios," Quarterly Review of Economics and Finance, 57(2015): 32-45. 2015.

"Risk-Based Capital Revisited: Evidence from the Early 2000s" (with Neil Meredith and Harry Pan) Journal of Financial Regulation and Compliance, 23(2): 115-134. 2015.
 

"Changing Perceptions of Maturity Mismatch in the US Banking System: Evidence from the Equity Markets" (with Andrew T. Young and Travis Wiseman). Southern Economic Journal, 81(1): 193-210. 2014.
 

"Explicit Costs of Government-Provided Deposit Insurance" (with William J. Luther) Cato Journal, 34(1): 145-170. 2014.
 

 
Working Papers  

"Fed Forecasting since the Great Recession," Under review.
 

"Aggregate Demand Shocks and the Great Recession," Working paper.


Book Chapters

“Alternatives to the Federal Deposit Insurance Corporation” (with Kristine Johnson), pp.60-95 in Peirce, Hester and Ben Klutsey, ed. Reframing Financial Regulation: Enhancing Stability & Protecting Consumers, Washington, DC: The Mercatus Center at George Mason University. 2016.
 

Policy Papers

“Costs of Compliance with the Dodd-Frank Act,” Baker Institute Issue Brief 09.06.19. September 6, 2019.

  
"What Caused the Post-crisis Decline in Bank Lending?" Baker Institute, Issue Brief, 01.10.19. January 10, 2019.   

"Strong, Simple Regulations Promote Financial Stability," Baker Institute, Issue Brief 05.21.18. May 21, 2018.
 
"Deposit Insurance is Not Fair" (with William Luther) American Institute for Economic Research, Research Briefs. April 25, 2017.

"The Failure of Risk-based Capital Regulation" (with Neil Meredith and Harry Pan) Mercatus on Policy no. 120. 2013.

"Deposit Insurance is Not Free" (with William J. Luther) Mercatus on Policy no. 115. 2012.
 

"Competition in Currency: The Potential for Private Money" Policy Analysis, no. 698. 2012.