--- title: "Research" description: "Research by Bryan Cutsinger in monetary theory, economic history, and public choice — peer-reviewed articles, working papers, and current projects." url: https://bryancutsinger.com/research/ --- # Money, institutions, and the *incentives* behind policy. My research sits at the intersection of monetary economics and economic history, with a recurring focus on seigniorage — the revenue governments raise by creating money — and the public-choice incentives that shape monetary institutions. My current work takes up the credibility of redeemable paper money, whether deflation's effects depend on its source, and the political economy of central banking, alongside a book with Alexander Salter on money and fiscal policy under contract for 2027. ### Curriculum vitae The full record — publications, teaching, presentations, service, and appointments — on a single PDF. [Download my CV (PDF)](https://bryancutsinger.com/downloads/cutsinger-cv.pdf) ## Peer-reviewed articles. 1. [Reviewing the Federal Reserve's 2025 Monetary Policy Framework Review](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=6394999) *Contemporary Economic Policy* Forthcoming **Bryan P. Cutsinger**, Peter N. Ireland, and William J. Luther [SSRN](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=6394999) 2. Captured Gatekeepers: Structural Conflicts of Interest in U.S. Higher Education *European Economic Review* Forthcoming **Bryan P. Cutsinger** and Siri Terjesen 3. 2026 Putting Economics Back in Humanomics *Public Choice* 206: 309–326 **Bryan P. Cutsinger** and Alexander William Salter 4. 2025 Symposium Introduction: Reviewing the Federal Reserve's Framework *Southern Economic Journal* 91, no. 4: 1213–1228 **Bryan P. Cutsinger** and William J. Luther 5. 2024 The Need for a Price Theory Revival *Journal of Private Enterprise* 39, no. 1: 11–44 **Bryan P. Cutsinger** and Alexander William Salter 6. 2023 Assignats or Death: The Politics and Dynamics of Hyperinflation in Revolutionary France *European Economic Review* 157: 104510 **Bryan P. Cutsinger**, Louis Rouanet, and Joshua S. Ingber 7. 2022 Seigniorage Payments and the Federal Reserve's New Operating Regime *Economics Letters* 220: 110880 **Bryan P. Cutsinger** and William J. Luther 8. Insuring Legislative Wealth Transfers: Theory and Evidence *Public Choice* 192: 127–144 **Bryan P. Cutsinger**, Alexander Marsella, and Yang Zhou 9. The Wild Card: Colonial Paper Money in French North America, 1685 to 1719 *European Review of Economic History* 26, no. 2: 185–207 **Bryan P. Cutsinger**, Vincent Geloso, and Mathieu Bédard 10. 2021 The Federal Reserve's Response to the COVID-19 Contraction: An Initial Appraisal *Southern Economic Journal* 87, no. 4: 1152–1174 Nicolás Cachanosky, **Bryan P. Cutsinger**, Thomas L. Hogan, William J. Luther, and Alexander William Salter 11. Forced Savings and Political Malinvestment: An Application of Steven Horwitz's Microfoundations and Macroeconomics *The Review of Austrian Economics* 34, no. 2: 311–322 **Bryan P. Cutsinger** 12. 2020 On the Feasibility of Returning to the Gold Standard *The Quarterly Review of Economics and Finance* 78: 88–97 **Bryan P. Cutsinger** 13. 2019 Seigniorage in the Civil War South *Explorations in Economic History* 72: 74–92 **Bryan P. Cutsinger** and Joshua S. Ingber 14. The Durability of Legislative Benefits and the Role of the Executive Branch's Settlement Authority *Journal of Private Enterprise* 34, no. 1: 1–14 **Bryan P. Cutsinger** ## Book chapters. 1. 2024 There's No Such Thing as a Wage-Price Spiral *The War on Prices: How Popular Misconceptions about Inflation, Prices, and Value Create Bad Policy* Ed. Ryan Bourne · Cato Institute · 29–39 **Bryan P. Cutsinger** 2. 2023 Interest on Reserves: Implications for Austrian Monetary and Business Cycle Theory *A Research Agenda for Austrian Economics* Eds. Steven Horwitz & Louis Rouanet · Edward Elgar · 21–44 **Bryan P. Cutsinger** 3. 2021 Is the Gold Standard Feasible? *The Gold Standard: Retrospect and Prospect* Eds. Peter C. Earle & William J. Luther · American Institute for Economic Research · 165–182 **Bryan P. Cutsinger** ## Books. 1. 2027 Based Money: A Citizen's Guide to Money Mischief and Fiscal Folly *Independent Institute* Book — under contract, anticipated 2027 **Bryan P. Cutsinger** and Alexander William Salter ## Working papers. Current projects — drafts available on request. 1. [As Good as Gold? A Framework for Analyzing Redeemable Paper Money](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4666027) *Explorations in Economic History* Revise & resubmit **Bryan P. Cutsinger** and Joshua R. Hendrickson [SSRN](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4666027) 2. [Rethinking Deflation and Its Effects: A Cross-Country Analysis of Supply-Driven Deflation](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4611943) *Journal of Economic Behavior & Organization* Revise & resubmit **Bryan P. Cutsinger** and Casey Pender [SSRN](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4611943) 3. [Democracy, Dictatorship, and the Monetary Commons](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3934048) Working paper With João Ricardo Faria and Louis Rouanet [SSRN](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3934048) 4. [Free Banking Reform and the Competitiveness of Antebellum Banking Systems](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3934059) Working paper With Mitchell Harvey and Louis Rouanet [SSRN](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3934059) 5. [Monetary Rules without Romance](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3375400) Working paper [SSRN](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3375400) ## Working on a related question? I'm glad to hear from students, coauthors, and journalists about monetary policy, economic history, and the political economy of money. [Get in touch](https://bryancutsinger.com/contact/)