Joshua R. Hendrickson

Senior Affiliated Scholar

Joshua R. Hendrickson is an associate professor at the University of Mississippi. His work primarily centers on issues related to monetary theory, history, and policy. He has written extensively on nominal GDP targeting and the political economy of Bitcoin. His work has appeared in the Journal of Money, Credit and Banking, the Journal of Economic Dynamics and Control, Macroeconomic Dynamics, the Journal of Economic Behavior & Organization, Economics & Politics, Economic Inquiry, the Journal of Macroeconomics, and the Southern Economic Journal. He received his PhD in economics from Wayne State University and his MA and BA in economics from the University of Toledo.

Publications & Appearances

| Monetary Policy Monetary Policy
| Research Papers Research Papers

Is the Quantity Theory Dead? Lessons from the Pandemic

By
- Joshua R. Hendrickson
January 17, 2023

Abstract: Many policymakers and economists are surprised by the recent high and persistent inflation. This naturally raises

Monetary Policy

| Monetary Policy Monetary Policy
| Mercatus Original Podcasts Mercatus Original Podcasts
| Macro Musings Macro Musings

Josh Hendrickson on Economic Growth, National Defense, and US Monetary Policy

May 16, 2022

Josh Hendrickson is Associate Professor of Economics at the University of Mississippi and Chair of the Economics Department…

| Monetary Policy Monetary Policy
| Policy Briefs Policy Briefs

What Would Milton Friedman Say about the Coordination of Monetary and Fiscal Policy?

By
- Joshua R. Hendrickson
May 2, 2022

This policy brief is part of a Mercatus Symposium titled “What Would Milton Friedman Say?” The symposium explores what the late

Monetary Policy

| Monetary Policy Monetary Policy
| Feature Feature

Mercatus Symposium | What Would Milton Friedman Say?

By
- Scott Sumner
- David Beckworth
- Joshua R. Hendrickson
- Patrick Horan
- Peter Ireland
- Julius Probst
May 2, 2022

| Monetary Policy Monetary Policy
| Policy Briefs Policy Briefs

Central Banks Are Inflation Creators, Not Inflation Fighters

By
- Joshua R. Hendrickson
February 22, 2022

Over the past 50 years, economists have spilled a lot of ink studying and debating periods of high inflation that began in the

Monetary Policy

| Monetary Policy Monetary Policy
| Policy Briefs Policy Briefs

What Happens When Governments Pay for Spending with Money Creation? Lessons from the Early Riksbank

By
- Joshua R. Hendrickson
October 6, 2021

In recent years, Modern Monetary Theory (MMT) has received greater attention in both the popular press and in the public debate

Monetary Policy

| Healthcare Healthcare
| Policy Briefs Policy Briefs

The Coronavirus and Lessons for Preparedness

By
- Joshua R. Hendrickson
March 27, 2020

In the midst of a pandemic, the most pressing issues are those of containment and mitigation—both in terms of the virus itself

| Monetary Policy Monetary Policy
| Working Papers Working Papers

Commodity Money, Free Banking, and Nominal Income Targeting

By
- Joshua R. Hendrickson
June 13, 2019

Some have argued that nominal income targeting is desirable because it would replicate characteristics of a free banking regime

Monetary Policy

| Monetary Policy Monetary Policy
| Policy Briefs Policy Briefs

How Should the Central Bank Determine Its Target for Nominal Income Growth?

By
- Joshua R. Hendrickson
June 13, 2019

There are many monetary theories of the business cycle, but a common theme among these theories is that a deviation between the

Monetary Policy

| Academic & Student Programs Academic & Student Programs
| Journal Articles Journal Articles

Preventing plunder

By
- Joshua R. Hendrickson
- Alexander William Salter
- Brian Albrecht
December 2018

A growing body of research highlights the correlation between strong, centralized states and economic growth. Given the