(WP 2010-09) Does Money Matter? An Empirical Investigation

This paper uses a simultaneous-equations model of the new consensus macroeconomic model to examine whether the inclusion of the money stock in the aggregate demand function improves the statistical fit of the model. The results indicate that the consensus model is accurate for the U.S. in that the inclusion of money does not increase the predictive power of the model. However, the results reveal that the estimated coefficients are more robust when money is included as an instrumental variable in the simultaneous equations consensus model

Does Money Matter? An Empirical Investigation

This paper uses a simultaneous-equations model of the new consensus macroeconomic model to examine whether the inclusion of the money stock in the aggregate demand function improves the statistical fit of the model. The results indicate that the consensus model is accurate for the U.S. in that the inclusion of money does not increase the predictive power of the model. However, the results reveal that the estimated coefficients are more robust when money is included as an instrumental variable in the simultaneous equations consensus modelConsensus Macro Model; Monetary Policy; Phillips Curve; Taylor Rule

CONSTITUTIONAL LAW-DUE PROCESS-BILL OF ATTAINDER-LOYALTY OATHS FOR CITY EMPLOYEE

In 1948, pursuant to an amendment to its charter, Los Angeles passed an ordinance which provided that all city employees must (1) take an oath that they did not espouse, and had not espoused within five years prior to the effective date of the ordinance, the forceful overthrow of the government; that they were not, nor had they been within the same period, affiliated with a group espousing such aims, and that they would not join any such group while in city employ, and (2) execute an affidavit relating whether they had ever belonged to the Communist Party, and if so the dates of their membership. Two appellants took the oath but refused to execute the affidavit; the remaining fifteen appellants refused to comply with either part of the ordinance. All were discharged, and sued for reinstatement and back salaries. The California Court of Appeals denied relief; certiorari was granted by the United States Supreme Court. Held, affirmed, Justices Black and Douglas dissenting, and Justices Frankfurter and Burton dissenting in part. The ordinance was a reasonable regulation of its employees by the city; it did not constitute a bill of attainder, or deny the appellants due process of law. Garner v. Board of Public Works of City of Los Angeles, 341 U.S. 716, 71 S.Ct. 909 (1951)

The Fragile Fabric of Union: Cotton, Federal Politics, and the Global Origins of the Civil War.

Cotton’s Effect on the Southern Political Economy This excellent book begins by emphasizing the usefulness of studying past societies by investigating their leaders’ views on political economy. This research method leads not to the determinism of pure economics nor to a purely legali...

The Slave Power: Its Character, Career, and Probable Designs: Being an Attempt to Explain the Real Issues Involved in the American Contest

The dismal science and American slavery 19th century analysis of King Cotton For decades, historians have used classical economist John Cairnes\u27 The Slave Power as a vital source of analysis and information about the economy of slavery and the society it produced. Cairne...

A Nation of Counterfeiters: Capitalists, Con Men, and the Making of the United States

Counterfeit Capitalism in the Antebellum Era The history of antebellum counterfeiting, supplemented with a brief sojourn into the latter part of the nineteenth century and the beginning of the twentieth, is amply detailed in this book by Stephen Mihm. Historians will be interested in how ...

Cwbr Author Interview: The British Gentry, The Southern Planter, And The Northern Family Farmer: Agriculture And Sectional Antagonism In North America

Interview with James L. Huston, Regents Professor of History at Oklahoma State University Interviewed by Zach Isenhower Civil War Book Review (CWBR): Today the Civil War Book Review is happy to speak with James L. Huston, Regents Professor of History at Oklahoma State University. Professor Huston previously authored, among several books, Calculating the Value of the Union: Slavery, Property Rights, and the Coming of the Civil War, as well as Stephen A. Douglas and the Dilemma of Democratic Equality. Today we get to talk about his most recent book, The British Gentry, the Southern Planter, and the Northern Family Farmer: Agriculture and Sectional Antagonism in North America. Professor Huston, thank you for joining us today. James L. Huston (JH): My pleasure, and thank you for the invitation

EVIDENCE-PRIVILEGE-CONFIDENTIAL COMMUNICATIONS BETWEEN HUSBAND AND WIFE

Husband sued for divorce alleging that wife drank excessively and humiliated him in public by her conduct, and that she continually made false and profane accusations designed to make his life unbearable. As proof of the latter charge, plaintiff was allowed to introduce in evidence a wire recording of conversations between plaintiff and defendant in their bedroom. Plaintiff\u27s son by a previous marriage had, by prearrangement with plaintiff, installed in their bedroom a microphone connected to a wire-recorder in the son\u27s adjoining bedroom, with which recordings were made of four separate conversations between plaintiff and defendant. The recordings substantiated plaintiff\u27s theory, but revealed that plaintiff had goaded his wife into making her remarks and had asked her to speak louder at several points, claiming he could not hear her. Held, decree for husband reversed. The recordings were not admissible because the conversations are privileged as confidential communications by the wife to her husband. Hunter v. Hunter, 169 Pa. Super. 498, 83 A. (2d) 401 (1951)

The Nebraska-Kansas Act of 1854

Review of: "The Nebraska-Kansas Act of 1854," edited by John R. Wunder and Joann M. Ross