Phasing out the penny could result in needing to make more nickels, and the U.S. Treasury Department loses far more money on ...

Donald Trump has ordered the US Treasury to stop minting new pennies, citing that each one-cent coin costs 3.69 cents to ...

“For far too long the United States has minted pennies which literally cost us more than 2 cents,” Trump posted on his social ...

Gregory Mankiw makes a similar point in his famous paper 'The Macroeconomist as Scientist and Engineer' (2006): "The real world of macroeconomic policymaking can be disheartening for those of us ...

December 6, 2020, Opinion: "In the evolution of the U.S. economy over the past four decades, one fact stands out as especially puzzling: the large and fairly steady decline in interest rates. Consider ...

This essay discusses the reasons for and implications of the decline in real interest rates around the world over the past several decades. It suggests that the decline in interest rates is largely ...

February 2021, Book Chapter: "I bring up this fact because we live in a time when inequality is high, when demonizing the rich is popular in some political circles, and when various policies are being ...