Working Papers
The Anatomy of Capital Returns over the Very Long Run: Germany, 1465–2025
Economics Working Paper 26128
November 6, 2026
Federal debt has now hit 100% of GDP. With no sign that spending will be reined in anytime soon, John Cochrane looks at the possible consequences — and potential fixes for — an economy headed for a reckoning.
Related
Articles
Data Center Siting And Community Opposition
Where data centers locate to fuel the growth of artificial intelligence (AI) is of burgeoning political importance with economic and environmental implications. We highlight local factors associated with siting and opposition.
November 3, 2026
Event
Money and Power: Historical Lessons for Stablecoins and U.S Dollar Dominance
The Hoover Institution Economic Policy Working Group hosted “Money and Power: Historical Lessons for Stablecoins and U.S Dollar Dominance” with Michael D. Bordo, the Duncan Stewart Distinguished Visiting Fellow at the Hoover Institution.
April 23, 2026