William J. Luther

Kenyon College

Assistant Professor of Economics

Gambier, OH 43022

United States

http://www.wluther.com

SCHOLARLY PAPERS

40

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CITATIONS
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Top 19,332

in Total Papers Citations

16

Scholarly Papers (40)

1.

Bitcoin is Memory

Journal of Prices & Markets, 3(3), 2015: 22-33.
Number of pages: 12 Posted: 09 Jun 2013 Last Revised: 25 Feb 2015
William J. Luther and Josiah Olson
Kenyon College and Kenyon College
Downloads 2,039 (3,384)
Citation 1

Abstract:

bitcoin, crypto-currency, currency competition, medium of exchange, memory, monetary standard, money, payment system

2.

Can Bitcoin Become a Major Currency?

GMU Working Paper in Economics No. 14-17
Number of pages: 9 Posted: 06 Jun 2014 Last Revised: 21 Jul 2014
William J. Luther and Lawrence H. White
Kenyon College and George Mason University - Department of Economics
Downloads 1,236 (3,924)

Abstract:

Bitcoin, Medium of Exchange, Store of Value, Unit of Account

3.
Downloads 1,168 ( 12,945)
Citation 1

Cryptocurrencies, Network Effects, and Switching Costs

Mercatus Center Working Paper No. 13-17
Number of pages: 45 Posted: 18 Jul 2013 Last Revised: 06 Jun 2015
William J. Luther
Kenyon College
Downloads 1,168 (12,684)
Citation 1

Abstract:

bitcoin, cryptocurrency, currency competition, lock-in, medium of exchange, monetary standard, money, network effects, path dependence, spontaneous switching, standardization

Cryptocurrencies, Network Effects, and Switching Costs

Contemporary Economic Policy, Vol. 34, Issue 3, pp. 553-571, 2016
Number of pages: 19 Posted: 27 May 2016
William J. Luther
Kenyon College
Downloads 0
Citation 1
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Abstract:

4.
Downloads 1,016 ( 16,035)

The Political Economy of Bitcoin

Number of pages: 30 Posted: 29 Nov 2014 Last Revised: 02 Sep 2015
Joshua R. Hendrickson, Thomas L. Hogan and William J. Luther
University of Mississippi, Troy University and Kenyon College
Downloads 1,016 (15,743)

Abstract:

Money matching, Random matching, Endogenous matching, Cryptocurrency, Bitcoin

The Political Economy of Bitcoin

Economic Inquiry, Vol. 54, Issue 2, pp. 925-939, 2016
Number of pages: 15 Posted: 26 Feb 2016
Joshua R. Hendrickson, Thomas L. Hogan and William J. Luther
University of Mississippi, Troy University and Kenyon College
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5.

Using NPR's Planet Money Podcast in Principles of Macroeconomics

Number of pages: 15 Posted: 07 Feb 2014 Last Revised: 09 Dec 2014
William J. Luther
Kenyon College
Downloads 597 (25,570)

Abstract:

National Public Radio, Planet Money, Podcast, Teaching

6.

Labor Economics from an Austrian Perspective

GMU Working Paper in Economics No. 12-41
Number of pages: 57 Posted: 17 Aug 2012
Peter J. Boettke and William J. Luther
George Mason University - Department of Economics and Kenyon College
Downloads 449 (43,558)

Abstract:

Austrian, Austrian business cycle theory, Böhm-Bawerk, entrepreneurship, Hayek, labor, labor theory of value, marginalism, Mises, search, uncertainty, unemployment

7.

The Ordinary Economics of an Extraordinary Crisis

MACROECONOMIC THEORY AND ITS FAILINGS: ALTERNATIVE PERSPECTIVE ON THE WORLD FINANCIAL CRISIS, Steven Kates, ed., Edward Elgar Publishing
Number of pages: 19 Posted: 19 Jan 2010
Peter J. Boettke and William J. Luther
George Mason University - Department of Economics and Kenyon College
Downloads 340 (62,626)
Citation 2

Abstract:

Financial Crisis, Austrian Business Cycle

8.

Hayek, Keynes, and Modern Macroeconomics

Number of pages: 20 Posted: 31 Mar 2010 Last Revised: 30 Jun 2011
Roger Koppl and William J. Luther
Syracuse University and Kenyon College
Downloads 287 (73,385)

Abstract:

animal spirits, cognition, complexity, Great Recession, Hayek, Keynes, radical uncertainty, state of confidence

9.

Positively Valued Fiat Money after the Sovereign Disappears: The Case of Somalia

GMU Working Paper in Economics No. 11-14
Number of pages: 34 Posted: 04 Apr 2011 Last Revised: 28 Jun 2016
William J. Luther and Lawrence H. White
Kenyon College and George Mason University - Department of Economics
Downloads 265 (67,115)
Citation 5

Abstract:

Belief, Focal Point, Inertia, Learning, Monetary Regime, Monetary Standard, Money, Search, Self-fulfilling Prophecy, Somalia, Somali Shilling

10.

Synthesizing State and Spontaneous Order Theories of Money

Advances in Austrian Economics 18 2014
Number of pages: 24 Posted: 03 Sep 2012 Last Revised: 01 Mar 2015
Alexander William Salter and William J. Luther
Texas Tech University - Rawls College of Business and Kenyon College
Downloads 221 (89,935)
Citation 1

Abstract:

chartalism, Knapp, medium of exchange, Menger, money, search, spontaneous order, state theory of money, unit of account

Friedman Versus Hayek on Private Outside Monies: New Evidence for the Debate

Number of pages: 17 Posted: 10 May 2011 Last Revised: 21 Aug 2012
William J. Luther
Kenyon College
Downloads 212 (114,517)
Citation 1

Abstract:

Comparative Monetary Systems, Competitive Monies, Denationalisation of Money, Friedman, Government and the Monetary System, Hayek, Medium of Exchange, Money, Monetary Standards, Monetary Regimes, Network Effects, Regulation

Friedman Versus Hayek on Private Outside Monies: New Evidence for the Debate

Economic Affairs, Vol. 33, Issue 1, pp. 127-135, 2013
Number of pages: 9 Posted: 07 Feb 2013
William J. Luther
Kenyon College
Downloads 1 (554,064)
Citation 1
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Abstract:

competitive monies, Friedman, government and the monetary system, Hayek, monetary regimes, monetary standards, network effects

12.

The Monetary Mechanism of Stateless Somalia

Number of pages: 26 Posted: 29 Apr 2012 Last Revised: 26 Aug 2015
William J. Luther
Kenyon College
Downloads 191 (87,078)
Citation 2

Abstract:

institutions, monetary regime, monetary standard, Somalia, Somali shilling, purchasing power

13.

Movie Production Incentives: Blockbuster Support for Lackluster Policy

Tax Foundation Special Report, No. 173, January 2010
Number of pages: 16 Posted: 20 Jan 2010
William J. Luther
Kenyon College
Downloads 179 (96,422)

Abstract:

Tax Policy, Production Incentives, State and Local Government

14.

On the Empirical Relevance of the Mises-Hayek Theory of the Trade Cycle

Number of pages: 29 Posted: 27 Oct 2013 Last Revised: 08 Apr 2014
William J. Luther and Mark Cohen
Kenyon College and Kenyon College
Downloads 151 (123,191)

Abstract:

Austrian, boom, business cycle, bust, Friedrich A. Hayek, Ludwig von Mises, macroeconomic fluctuation, stage of process, structure of production

15.

An Empirical Analysis of the Austrian Business Cycle Theory

Number of pages: 28 Posted: 11 Jan 2014
William J. Luther and Mark Cohen
Kenyon College and Kenyon College
Downloads 141 (122,617)

Abstract:

Austrian, boom, business cycle, bust, federal funds rate, Friedrich A. Hayek, interest rate, Ludwig von Mises, macroeconomic fluctuation, monetary policy, natural rate of interest, neutral rate of interest, producer price index, productivity rule, recession, stage of process, structure of production

16.

Book Review: L. J. Kotlikoff’s, Jimmy Stewart is Dead: Ending the World’s Ongoing Financial Plague with Limited Purpose Banking

Economic Affairs (Institute for Economic Affairs), Vol. 31, No. 1, 2011
Number of pages: 4 Posted: 27 Feb 2011
William J. Luther
Kenyon College
Downloads 141 (146,381)

Abstract:

Book Review

17.

The Great Recession and its Aftermath from a Monetary Equilibrium Theory Perspective

George Mason University Mercatus Center Working Paper No. 10-63
Number of pages: 29 Posted: 05 Dec 2010
Steven Horwitz and William J. Luther
St. Lawrence University and Kenyon College
Downloads 134 (147,985)

Abstract:

Austrian Economics, Bailout, Business Cycle, FDIC, Monetary Equilibrium Theory, Monetary Systems, Monetary Policy, Moral Hazard, Nominal Income Targeting, The Great Recession

18.

Book Review: B. Mclean and J. Nocera's All the Devils are Here: The Hidden History of the Financial Crisis

Economic Affairs (Institute for Economic Affairs), Forthcoming
Number of pages: 2 Posted: 22 Jul 2011
William J. Luther
Kenyon College
Downloads 126 (167,493)

Abstract:

Book Review

19.

The Explicit Costs of Government Deposit Insurance

Cato Journal, Vol. 34 (1) pp.145-170, Winter 2014
Number of pages: 26 Posted: 13 Jun 2012 Last Revised: 12 Apr 2014
Thomas L. Hogan and William J. Luther
Troy University and Kenyon College
Downloads 116 (175,511)

Abstract:

Actuarially fair, Bank failures, Comparative Institutional Analysis, Deposit insurance, Diamond-Dybvig, FDIC

20.
Downloads 98 (176,591)

Abstract:

monetary systems, monetary regimes, gold standard, Bretton Woods, John Maynard Keynes, Harry Dexter White

21.

The Optimal Austrian Business Cycle Theory

Advances in Austrian Economics 20 2016: 45-60
Number of pages: 21 Posted: 11 Nov 2014 Last Revised: 07 Aug 2016
Alexander William Salter and William J. Luther
Texas Tech University - Rawls College of Business and Kenyon College
Downloads 88 (131,283)

Abstract:

Austrian, boom, business cycle, bust, Friedrich A. Hayek, Ludwig von Mises, macroeconomic fluctuation, structure of production, rational expectations

22.

Estimating Optimal Denominations

Number of pages: 34 Posted: 24 May 2012
William J. Luther
Kenyon College
Downloads 87 (203,027)
Citation 1

Abstract:

Banknotes, Coins, Currency, Denomination, Denomination Structure, Monetary Regime, Monetary Standard, Monetary Unit, Money, Payments, Payment System, Powers-of-Three, Powers-of-Two, Somalia, Somali Shilling

23.
Downloads 81 (192,713)

Abstract:

book review, ownership economics, property, property rights

24.

Monetary Equilibrium and Price Stickiness Reconsidered: A Reply to Bagus and Howden

Review of Austrian Economics 25(3) 2012: 263-269
Number of pages: 7 Posted: 29 Jan 2012 Last Revised: 16 Aug 2014
William J. Luther and Alexander William Salter
Kenyon College and Texas Tech University - Rawls College of Business
Downloads 80 (220,343)

Abstract:

Austrian economics, central banking, commodity standard, fiat money, free banking, macroeconomics, money, monetary equilibrium theory, monetary standard, sticky information, sticky prices

25.

Bitcoin and the Future of Digital Payments

Number of pages: 14 Posted: 18 Jul 2015
William J. Luther
Kenyon College
Downloads 67 (13,085)

Abstract:

Bitcoin, Cryptocurrency, Digital Payments, Payment Systems, Network Effects, Switching Costs, Regulation

26.

Evenly Rotating Economy: A New Modeling Technique for an Old Equilibrium Construct

Number of pages: 25 Posted: 26 Jul 2013 Last Revised: 17 Sep 2013
William J. Luther
Kenyon College
Downloads 64 (241,843)

Abstract:

Austrian economics, evenly rotating economy, general equilibrium, matching, Mises, search, Walrasian

27.

Regulating Bitcoin: On What Grounds?

Number of pages: 19 Posted: 17 Jul 2015 Last Revised: 12 Jan 2017
William J. Luther
Kenyon College
Downloads 50 (93,203)

Abstract:

Bitcoin, Budgetary Policy, Consumer Protection, Cryptocurrency, Drug Trade, Illegal Transactions, Illegal Transfers, Macroeconomic Policy, Monetary Policy, Regulation, Silk Road, Terrorism

28.

The Economics Underlying the Ethics of Fiscal Stimuli

Journal of Lutheran Ethics, Vol. 9, No. 3, 2009
Number of pages: 5 Posted: 19 Jan 2010
William J. Luther
Kenyon College
Downloads 50 (302,430)

Abstract:

29.

The Implicit Costs of Government Deposit Insurance

Number of pages: 18 Posted: 21 Feb 2015 Last Revised: 03 Jun 2015
Thomas L. Hogan and William J. Luther
Troy University and Kenyon College
Downloads 44 (263,090)

Abstract:

Actuarially fair, Bank failures, Comparative Institutional Analysis, Deposit insurance, Diamond-Dybvig, FDIC

30.

Ireland

BOOMS AND BUSTS: AN ENCYLOPDIA OF ECONOMIC HISTORY FROM TULIPMANIA OF THE 1630s TO THE GLOBAL FINANCIAL CRISIS OF THE 21st CENTURY, pp. 418-421, James Ciment, ed., Armonk, NY: M.E. Sharpe, 2010
Number of pages: 3 Posted: 20 Jan 2010 Last Revised: 23 Jul 2011
Joshua C. Hall and William J. Luther
West Virginia University and Kenyon College
Downloads 44 (327,627)
Citation 1

Abstract:

Economic Growth, Institutions, Ireland

31.

Deposit Insurance Is Not Free

Mercatus on Policy, No. 115, 2012
Number of pages: 4 Posted: 18 Dec 2012
William J. Luther and Thomas L. Hogan
Kenyon College and Troy University
Downloads 41 (315,999)

Abstract:

32.

Endogenous Matching and Money with Random Consumption Preferences

Number of pages: 30 Posted: 13 Apr 2014 Last Revised: 21 Aug 2014
Thomas L. Hogan and William J. Luther
Troy University and Kenyon College
Downloads 38 (310,454)

Abstract:

Money matching, Random matching, Endogenous matching, Monetary equilibrium, Monetary policy

33.

Economic Freedom is Negative Liberty: A Comment on Legum (2007) and Stanford (2007)

Real-World Economics Review, Vol. 3, No. 47, pp. 261-262, October 2008
Number of pages: 2 Posted: 20 Jan 2010
Robert A. Lawson, Joshua C. Hall and William J. Luther
Auburn University - Department of Finance, West Virginia University and Kenyon College
Downloads 36 (330,603)

Abstract:

Economic Freedom, Economic Growth, Institutions

34.

Mises and the Moderns on the Inessentiality of Money in Equilibrium

Number of pages: 24 Posted: 03 Mar 2015 Last Revised: 03 Jun 2015
William J. Luther
Kenyon College
Downloads 34 (285,288)
Citation 1

Abstract:

Austrian economics, epistemic frictions, evenly rotating economy, exchange frictions, experimental macroeconomics, general equilibrium, gift exchange, infinite games, matching, Mises, monetary economics, money, search, social norms

35.

Deposit Insurance Is Not Fair

Number of pages: 7 Posted: 11 Mar 2015
Thomas L. Hogan and William J. Luther
Troy University and Kenyon College
Downloads 29 (336,768)

Abstract:

Actuarially fair, Bank failures, Deposit insurance

36.

BRACE for a New Interventionist Economics

Number of pages: 60 Posted: 12 Jun 2014
Roger Koppl and William J. Luther
Syracuse University and Kenyon College
Downloads 19 (391,174)

Abstract:

E32, G12, E5, E6

37.

Suboptimal Equilibria from Nominal GDP Targeting

Number of pages: 22 Posted: 01 Jul 2015
Thomas L. Hogan and William J. Luther
Troy University and Kenyon College
Downloads 8 (414,740)

Abstract:

Monetary Policy, Nominal GDP targeting, Inflation, Economic growth

38.

Banning Bitcoin

Number of pages: 18 Posted: 14 Oct 2016 Last Revised: 22 Oct 2016
Joshua R. Hendrickson and William J. Luther
University of Mississippi and Kenyon College
Downloads 0 (285,288)

Abstract:

Ban, Bitcoin, Cryptocurrency, Currency, Endogenous matching, Money, Money matching, Political economy, Random matching, Transactions policy

39.

Patience and Principles

Number of pages: 13 Posted: 27 Feb 2016 Last Revised: 02 Mar 2016
William J. Luther
Kenyon College
Downloads 0 (455,540)

Abstract:

Macroeconomics, Discount Rate, Grades, Patience, Time Preference

40.

Bitcoin and the Bailout

Quarterly Review of Economics and Finance, Forthcoming
Number of pages: 18 Posted: 15 Nov 2015 Last Revised: 24 Jan 2017
William J. Luther and Alexander William Salter
Kenyon College and Texas Tech University - Rawls College of Business
Downloads 0 (236,524)

Abstract:

bitcoin, cryptocurrency, currency competition, medium of exchange, money, payment system

Other Papers (1)

Total Downloads: 41    Citations: 0
1.

Preface to On the Origins of Money by Carl Menger

Number of pages: 6 Posted: 16 Jun 2014
William J. Luther
Kenyon College
Downloads 31

Abstract:

Carl Menger, Medium of Exchange, Money, Spontaneous Order