This dissertation consists of three essays on market and mechanism design. In each essay, I utilize tools and knowledge from game theory, equilibrium theory, and mechanism design to explain agents' behavior and assess the market equilibrium structure in different allocation mechanisms, both with and without monetary transactions. The first two…

The money creation and monetary policy chapters in the leading introductory textbooks commonly present an outdated and misleading approach that is now largely irrelevant. A preferable model would help students understand that money and monetary policy are about bank and household motives, the importance of capital, and the role of credit. An…

This article attempts to make some sense of what is happening to the role of money and the economy in our lives and in our communities. It shows that the picture provided by the discipline of economics makes no sense at all. Corporations and national economies have become wealth extractors as opposed to wealth creators. Only about 3% of daily…

This booklet is a compilation of articles on money market instruments which were published in the "Monthly Review" of the Federal Reserve Bank of Richmond from 1964-1967. They have been revised to include recent changes in the various markets, as well as to reflect currently applicable laws and regulations. The articles are titled: The Money…

This student guide is intended to assist persons employed as supervisors in understanding the main sectors in the national economy. Discussed in the first four sections are the following topics: the economic system (economic decisions and types of economies), the public sector (extent and control of the public sector, finance of the public sector,…

This report describes the main areas of economic research supported by the Ford Foundation in the 1970s, with an emphasis on the work in international economics. It is divided into five sections: the international economy, less-developed countries (LDCs) and the new economic order, the industrialized world and inflation, workers and wages, and…