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Xuebin Zhao

Independent

SCHOLARLY PAPERS

29

DOWNLOADS

841

TOTAL CITATIONS

0

Scholarly Papers (29)

1.

Beyond the Liquidity Trap: How Digital Divisibility Dismantles the Engine of Keynesian Deflationary Spirals

Number of pages: 19 Posted: 20 Sep 2025 Last Revised: 31 Oct 2025
Xuebin Zhao
Independent
Downloads 64 (933,592)

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Deflation, Liquidity Trap, Keynesian Economics, Digital Currency, Infinite Divisibility, Monetary Theory, Algorithmic Denomination, Central Banking, Triffin Dilemma, International Monetary System

2.

The Liquidity Continuum: How Financial Innovation  Transformed Keynes's Binary World

Number of pages: 26 Posted: 16 Nov 2025 Last Revised: 28 Apr 2026
Xuebin Zhao
Independent
Downloads 62 (980,173)

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Keynes, Liquidity Preference, Liquidity Trap, Cash Fetish, Monetary History, Volcker Shock, Zero Interest-Rate Policy (ZIRP), Falsification

3.

A Critique That Does Not Reach: Equal Output and the Limits of Cambridge Reswitching

Number of pages: 25 Posted: 30 Dec 2025 Last Revised: 17 Jun 2026
Xuebin Zhao
Independent
Downloads 48 (1,097,529)

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Reswitching Paradox, Cambridge Capital Controversy, Austrian Capital Theory, Structure of Production, Roundaboutness, Technique Selection, Critical Time Horizon, Interest Rate Bounds

4.

The Forgotten Friction: How the "Smallest Coin Problem" Amplified the Great Depression

Number of pages: 15 Posted: 19 Dec 2025
Xuebin Zhao
Independent
Downloads 42 (1,157,785)

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Smallest Coin Problem, Deflationary Amplifier, Sales Tax Tokens, Monetary Friction, Great Depression, Digital Divisibility, Deflationary Spiral, Monetary Technology

5.
Downloads 41 (1,196,171)

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Range-Clearing, Price Searcher, Range of Equilibrium, Cognitive Efficiency, Entrepreneurial Discovery, Perfect Competition, Price Theory, Subjective Value Theory

6.
Downloads 41 (1,170,409)

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Cryptocurrency, Systemic Co-optation, Stablecoins, ​Dollar Hegemony, DeFi, Austrian School, Monetary History

7.

Calvo's "Probability Zombie" and the Specter of Machine Learning: On the "Predictionist" Fallacy in Modern Macroeconomics

Number of pages: 14 Posted: 13 Nov 2025 Last Revised: 19 Nov 2025
Xuebin Zhao
Independent
Downloads 38 (1,209,354)

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Economic Methodology, New Keynesian Macroeconomics, Calvo Pricing, Machine Learning, Prediction vs. Explanation, Austrian School, Praxeology, Ptolemaic Astronomy

8.
Downloads 35 (1,277,121)

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Price-Searcher Theory, Marginal Revenue Product (MRP), Entrepreneurial Profit, Distribution Theory, Exploitation Theory, Value of Marginal Product (VMPL), Austrian School of Economics, Subjective Value Theory

9.

Rethinking the Sraffa-Hayek Debate from the Foundation of the Glass House

Number of pages: 11 Posted: 12 Dec 2025
Xuebin Zhao
Independent
Downloads 35 (1,263,436)

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Sraffa-Hayek Debate, Natural Rate of Interest, Monetary Neutrality, Capital Theory, Austrian Business Cycle Theory, Glass House Currency, Digital Divisibility, Monetary Architecture

10.

The Name Game: How Contractual Form, Not Reserve Ratios, Defines Money

Number of pages: 13 Posted: 17 Dec 2025
Xuebin Zhao
Independent
Downloads 33 (1,277,121)

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Fractional-Reserve Banking (FRB), Austrian School of Economics, Contract Theory, Category Mistake, Free Banking, Murray Rothbard, Financial Regulation, Money Market Funds

11.

The Glass House: An Engineering Blueprint for a Sound Money

Number of pages: 21 Posted: 23 Oct 2025 Last Revised: 17 Jan 2026
Xuebin Zhao
Independent
Downloads 31 (1,304,549)

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Monetary Economics, Austrian School of Economics, Gold Standard, Cryptocurrency, Denationalisation of Money, Hyper-Sovereign Currency, Hayek, F.A.

12.

Range-Clearing: A Market-Structure Analysis Framework Based on Intervals and Covariance

Number of pages: 24 Posted: 24 Dec 2025
Xuebin Zhao
Independent
Downloads 30 (1,332,057)

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Range-Clearing, Market Thickness, Interval Equilibrium, Covariance Structure, Austrian Microfoundations, Price Dispersion, Market Structure Diagnostics, Bargaining Range

13.

Range-Clearing and the Illusion of Sticky Prices : A Microfoundation Based on Subjective Value

Number of pages: 10 Posted: 15 Dec 2025
Xuebin Zhao
Independent
Downloads 27 (1,359,097)

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Macroeconomic Policy, Transaction Costs, Plain State of Rest (PSR), Monetary Disequilibrium Theory (MDT), Range-Clearing, Price Stickiness, Market Clearing, Subjective Value Theory

14.

The Axiomatic Filter: Conceptual Engineering for a Science of Intersubjective Truth

Number of pages: 25 Posted: 21 Nov 2025
Xuebin Zhao
Independent
Downloads 27 (1,385,945)

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Conceptual Engineering, Axiomatic Foundations, Intersubjective Consensus, Folk Psychology, Criteria for Axiomatic Status, Philosophical Methodology, Philosophy of the Social Sciences, Philosophy of Mind, Human Nature

15.
Downloads 26 (1,372,601)

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Range-Clearing Theory, Behavioral Economics, Rationality, Praxeology, Subjective Value, Cognitive Constraints, Value Rationality, Homo Economicus

16.

Consensual Truth: A Probabilistic Theory of Intersubjective Knowledge as a Foundation for the Human Sciences

Number of pages: 23 Posted: 19 Dec 2025 Last Revised: 20 Dec 2025
Xuebin Zhao
Independent
Downloads 25 (1,385,945)

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Philosophy of Mind, Epistemology, Intersubjective Consensus, Epistemological Symmetry, Philosophy of Science, Falsifiability, Methodological Pluralism, Austrian Economics

17.

The Two Conditions of Fisher’s Debt-Deflation Spiral

Number of pages: 36 Posted: 18 Dec 2025 Last Revised: 16 Jun 2026
Xuebin Zhao
Independent
Downloads 25 (1,399,036)

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Deflation, Monetary Policy, Fisher Effect, Smallest Coin Problem, Conceptual Critique, Debt-Deflation, Liquidity Trap, Digital Currency

18.

Beyond Efficiency: Market Cognition and Information Filtering under Range-Clearing

Number of pages: 14 Posted: 16 Dec 2025
Xuebin Zhao
Independent
Downloads 25 (1,399,036)

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Range-Clearing, Cognitive Efficiency, Efficient-Market Hypothesis (EMH), Information Filter, Subjective Value Theory, Punctuated Equilibrium, Cognitive Costs, Price Stickiness

19.

Greenspan's "Treason": The Fatal Collusion of Limited Liability and the Central Bank

Number of pages: 18 Posted: 09 Dec 2025 Last Revised: 12 Dec 2025
Xuebin Zhao
Independent
Downloads 24 (1,399,036)

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Limited Liability, Alan Greenspan, Austrian Business Cycle Theory, Central Banking, Systemic Risk, Moral Hazard, Lender of Last Resort, Monetary Constitutionalism

20.

A Formal Model of the Cantillon Effect

Number of pages: 15 Posted: 02 May 2026
Xuebin Zhao
Independent
Downloads 22 (1,518,554)

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Cantillon Effect, Flow-Stock Distinction, Monetary Transmission Mechanism, Redistribution, Stock Redistribution, Staggered Receipt, Richard Cantillon, Price Level Adjustment

21.

The Price of Life: How Range-Clearing Theory Explains the "Trust Cliff" in High-Stakes Trading

Number of pages: 14 Posted: 12 Jan 2026
Xuebin Zhao
Independent
Downloads 21 (1,436,435)

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Range-Clearing Theory, Subjective Value, Experimental Economics, Costly Switch, Micro-Foundations

22.

The End of Consumer Surplus: Reconstructing Welfare Economics under the Range-Clearing Theory

Number of pages: 13 Posted: 16 Dec 2025
Xuebin Zhao
Independent
Downloads 20 (1,459,862)

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Consumer Surplus, Range-Clearing Theory, Welfare Economics, Subjective Value Theory, Point Equilibrium, Interpersonal Comparisons of Utility, Austrian School, Epistemological Critique

23.
Downloads 20 (1,448,301)

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Monetary Constitutionalism, Rules versus Discretion, Gold Standard, Sound Money, Political Viability, Economic Sovereignty, Debt-Deflation Spiral, Algorithmic Elasticity, Radical Transparency

24.
Downloads 18 (1,541,665)

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pure time-preference theory, interest, capital theory, representative agent, methodology, Austrian economics

25.

The Presumption of Intervention: Exposing the Unexamined Premises of the Anti-Gold Consensus

Number of pages: 19 Posted: 20 Apr 2026 Last Revised: 29 Apr 2026
Xuebin Zhao
Independent
Downloads 16 (1,491,251)

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Gold Standard, Austrian Economics, Sound Money, Deflation Phobia, Infinite Divisibility, Modern Monetary Theory (MMT)

26.
Downloads 15 (1,500,778)

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Deflationary Spiral, Smallest Coin Problem, Monetary Divisibility, Transaction Costs, Liquidity Trap, Keynesian Economics, Austrian Business Cycle Theory, Agent-Based Model (ABM), Monetary Theory, Computational Economics

27.

Beyond Power and Sympathy : Trade-Capacity as the Foundation for a Cosmopolitan Ethics

Number of pages: 28 Posted: 19 Nov 2025 Last Revised: 22 Nov 2025
Xuebin Zhao
Independent
Downloads 15 (1,500,778)

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Moral Philosophy, Moral Circle, Trade, Cosmopolitanism, Applied Ethics, Interstellar Ethics, AI Ethics, Animal Rights, Utilitarianism, Deontology

28.

HANK After Cantillon: Two Hidden Premises and a Breakeven Condition

Number of pages: 35 Posted: 04 May 2026 Last Revised: 15 May 2026
Xuebin Zhao
Independent
Downloads 9 (1,548,648)

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Cantillon effect, monetary policy transmission, heterogeneous agent models, balance-sheet channel, staggered receipt, inflation, income distribution, breakeven condition

29.

Discounting as a Distributional Weapon: When Time Structure Asymmetry Reverses Welfare Signs

Number of pages: 15 Posted: 07 May 2026 Last Revised: 21 May 2026
Xuebin Zhao
Independent
Downloads 6 (1,566,597)

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discounting, time structure, welfare criterion, quasi-hyperbolic discounting, cost-benefit analysis