Publications

My research focuses on dollarization and monetary institutions, the political economy of populism, and capital theory. Below is a selection of published work across peer-reviewed journals, book chapters, and working papers.

Selected Journal Articles

2026/. Can Dollarization Mitigate the Macroeconomic Cost of Populism? Lessons from Latin America
World Development, Vol. 104, August
Nicolas Cachanosky • John D. Gibson • Emilio Ocampo
DOI: 10.1016/j.worlddev.2026.107402

2025/. The Institutional Impact of Left-Leaning Populism in Latin America
European Journal of Political Economy, Vol. 86, January
Nicolas Cachanosky • João P. Bastos • Alexandre Padilla • Karla C. Hernández
DOI: 10.1016/j.ejpoleco.2024.102629

2022/. Can Dollarization Constrain a Populist Leader? The Case of Rafael Correa in Ecuador
Journal of Economic Behavior and Organization, Vol. 200 (August), pp. 430-442.
Nicolas Cachanosky • Alexander W. Salter • Ignacio Savanti
DOI: 10.1016/j.jebo.2022.06.006

2021/. The Federal Reserve’s Response to the Covid-19 Contraction: An Initial Appraisal
Southern Economic Journal, Vol. 87, No. 4, pp. 1152-1174
Nicolas Cachanosky • Bryan P. Cutsinger • Thomas L. Hogan • William J. Luther • Alexander W. Salter
DOI: 10.1002/soej.12498

2021/. Immigration and Institutional Change: Did Mass Immigration Cause Peronism in Argentina?
Journal of Economic Behavior and Organization, Vol. 184 (April), pp. 1-15
Nicolas Cachanosky • Alexandre Padilla • Alejandro O. Gomez
DOI: 10.1016/j.jebo.2021.01.027

2021/. Why Did Inflation Targeting Fail in Argentina?
Quarterly Review of Economics and Finance, Vol. 80 (May), pp. 102-116
Nicolas Cachanosky • Federico Julián Ferrelli Mazza
DOI: 10.1016/j.qref.2021.01.014

2018/. The Average Period of Production: History of an Idea
Journal of the History of Economic Thought, Vol. 40, No.1, pp. 81-98
Peter Lewin • Nicolas Cachanosky
DOI: 10.1017/S105383721700013X

2018/. The Grecian Horse: Does Immigration Lead to the Deterioration of American Institutions?
Public Choice, Vol. 30, No. 2, pp. 169-192
Alexandre Padilla • Nicolas Cachanosky
DOI: 10.1007/s11127-018-0509-5

2016/. An Empirical Application of the EVA Framework to Business Cycles
Review of Financial Economics, Vol. 30 (September), pp. 60-67
Nicolas Cachanosky • Peter Lewin
DOI: 10.1016/j.rfe.2016.06.006

2015/. Implications of Machlup’s Interpretation of Mises’s Epistemology
Journal of the History of Economic Thought, Vol. 37, No. 1, pp. 111-138
Gabriel J. Zanotti • Nicolas Cachanosky
DOI: 10.1017/S1053837214000777

All Journal Articles

Forthcoming. Do Rights of Nature Protect the Environment? Macro-Level Evidence from Ecuador
Constitutional Political Economy
João P. Bastos • Nicolas Cachanosky • Justin Callais
DOI: 10.1007/s10602-026-09514-6

Forthcoming. Ludwig Lachmann’s Capital and Its Structure At its 70-Year Publication Anniversary
The Review of Austrian Economics
Peter Lewin • Nicolas Cachanosky
DOI: 10.1007/s11138-026-00726-5

Forthcoming. A Lakatosian and Non-conventionalist Reconstruction of Mises
The Review of Austrian Economics
Gabriel J. Zanotti • Agustina Borella • Nicolas Cachanosky
DOI: 10.1007/s11138-025-00681-7

Forthcoming. The Political Economy of Populism Regime Length
Constitutional Political Economy
João P. Bastos • Nicolas Cachanosky • Tomás Faintich
DOI: 10.1007/s10602-025-09465-4

2026. Can Dollarization Mitigate the Macroeconomic Cost of Populism? Lessons from Latin America
World Development, Vol. 104, August
Nicolas Cachanosky • John D. Gibson • Emilio Ocampo
DOI: 10.1016/j.worlddev.2026.107402

2025. Classical Liberalism in Argentina, from 1884 to 2023
Econ Journal Watch, Vol. 22, Issue 1, pp. 415-436.
Alejandro Gómez • Nicolas Cachanosky

2025. The Institutional Impact of Left-Leaning Populism in Latin America
European Journal of Political Economy, Vol. 86, pp. 1-26.
Nicolas Cachanosky • João P. Bastos • Alexandre Padilla • Karla C. Hernández
DOI: 10.1016/j.ejpoleco.2024.102629

2024. Did Dollarization Help Ecuador?
Scottish Journal of Political Economy, Vol. 72, No. 1, pp. 1-11
Nicolas Cachanosky • Emilio Ocampo • Karla C. Hernández • John Ramseur
DOI: 10.1111/sjpe.12397

2024. Classical Liberalism in Argentina, from 1816 to 1884
Econ Journal Watch, Vol. 21, Issue 1, pp. 415-436.
Alejandro Gómez • Nicolas Cachanosky

2023. Hermeneutics and Phenomenology in the Social Sciences: Lessons from the Austrian School of Economics Case
The Review of Austrian Economics, Vol. 36, No. 3, pp. 403-415.
Gabriel J. Zanotti • Agustina Borella • Nicolas Cachanosky
DOI: 10.1007/s11138-021-00548-7

2023. Lessons From Dollarization in Latin America in the 21st Century
The Economists’ Voice, Vol. 20, No. 1, pp. 25-42.
Nicolas Cachanosky • Emilio Ocampo • Alexander W. Salter
DOI: 10.1515/ev-2023-0001

2023. Immigration and Economic Freedom of the US States: Does the Institutional Quality of Immigrants’ Origin Countries Matter?
Contemporary Economic Policy, Vol. 41, No. 3, pp. 489-512.
Alexandre Padilla • Nicolas Cachanosky

2022. Monetary Disorder in Buenos Aires Province (1822-1881)
The Independent Review, Vol. 27, No. 1, pp. 23-35.
Adrián O. Ravier • Nicolas Cachanosky

2022. Can Dollarization Constrain a Populist Leader? The Case of Rafael Correa in Ecuador
Journal of Economic Behavior and Organization, Vol. 200 (August), pp. 430-442.
Nicolas Cachanosky • Alexander W. Salter • Ignacio Savanti
DOI: 10.1016/j.jebo.2022.06.006

2022. The Upper Turning Point in the Austrian Business Cycle Theory
The Review of Austrian Economics, Vol. 35, No. 1, pp. 89-97
Anthony J. Evans • Nicolas Cachanosky • Robert Thorpe
DOI: 10.1007/s11138-019-00497-2

2021. Latin America Left-Populism, Price of Commodities, and Economic Crises
Journal of Private Enterprise Education, Vol. 36, No. 2, pp. 1-17.
Nicolas Cachanosky • Alexandre Padilla

2021. Microfoundations and Macroeconomics: 20 Years
The Review of Austrian Economics, Vol. 34, No. 2, pp. 279-288
Nicolas Cachanosky
DOI: 10.1007/s11138-020-00500-1

2021. The Federal Reserve’s Response to the Covid-19 Contraction: An Initial Appraisal
Southern Economic Journal, Vol. 87, No. 4, pp. 1152-1174
Nicolas Cachanosky • Bryan P. Cutsinger • Thomas L. Hogan • William J. Luther • Alexander W. Salter
DOI: 10.1002/soej.12498

\2021. Immigration and Institutional Change: Did Mass Immigration Cause Peronism in Argentina?
Journal of Economic Behavior and Organization, Vol. 184 (April), pp. 1-15
Nicolas Cachanosky • Alexandre Padilla • Alejandro O. Gomez
DOI: 10.1016/j.jebo.2021.01.027

2021. Why Did Inflation Targeting Fail in Argentina?
Quarterly Review of Economics and Finance, Vol. 80 (May), pp. 102-116
Nicolas Cachanosky • Federico Julián Ferrelli Mazza
DOI: 10.1016/j.qref.2021.01.014

2020. A Panel Data Analysis of Latin American Populism
Constitutional Political Economy, Vol. 31, No. 3, pp. 321-343
Nicolas Cachanosky • Alexandre Padilla
DOI: 10.1007/s10602-020-09302-w

2020. Immigration and Economic Freedom: Does Education Matter?
The Journal of Private Enterprise, Vol. 35, No. 1, pp. 29-57
Alexandre Padilla • Nicolas Cachanosky • Jonathan Beck

2020. Rediscovering Buchanan’s Rediscovery: Non-Market Exchange versus Antiseptic Allocation
Public Choice, Vol. 183, No. 3-4, pp. 461-477
Nicolas Cachanosky • Edward J. Lopez
DOI: 10.1007/s11127-020-00819-0

2020. Entrepreneurship in a Theory of Capital and Finance: Illustrating the Use of Subjective Quantification
Managerial and Decision Economics, Vol. 41, No. 5, pp. 735-743
Peter Lewin • Nicolas Cachanosky
DOI: 10.1002/mde.3133

2020. The Super-Alertness of Central Banks
The Review of Austrian Economics, Vol. 33, No. 1-2, pp. 187-200
Nicolas Cachanosky • Alexander W. Salter
DOI: 10.1007/s11138-019-00436-1

2020. Immigration, Economic Freedom, and Ideology
The International Trade Journal, Vol. 34, No. 1, pp. 5-17
Alexandre Padilla • Nicolas Cachanosky
DOI: 10.1080/08853908.2019.1695026

2019. Can Bitcoin Become Money? The Monetary Rule Problem
Australian Economic Papers, Vol. 58, No. 4, pp. 365-374
Nicolas Cachanosky
DOI: 10.1111/1467-8454.12158

2019. Re-switching, the Average Period of Production and the Austrian Business Cycle Theory: A Comment on Fratini
The Review of Austrian Economics, Vol. 32, No. 4, pp. 375-382
Peter Lewin • Nicolas Cachanosky
DOI: 10.1007/s11138-019-00460-1

2019. Latin American Populism in the 21st Century
The Independent Review, Vol. 42, No. 2, pp. 209-226
Nicolas Cachanosky • Alexandre Padilla

2018. The Cost of Populism in Argentina, 2002-2015
MISES: Interdisciplinary Journal in Philosophy, Law and Economics (special issue)
Nicolas Cachanosky

2018. The Role of Capital Structure in Austrian Business Cycle Theory
The Journal of Private Enterprise, Vol. 33, No. 2, pp. 21-32
Nicolas Cachanosky • Peter Lewin

2018. Substance and Semantics: The Question of Capital
Journal of Economic Behavior and Organization, Vol. 150, No. 4, pp. 423-432
Peter Lewin • Nicolas Cachanosky
DOI: 10.1016/j.jebo.2018.01.024

2018. Value and Capital: Austrian Capital Theory, Retrospect and Prospect
The Review of Austrian Economics, Vol. 31, No. 1, pp. 1-26
Peter Lewin • Nicolas Cachanosky
DOI: 10.1007/s11138-016-0374-8

2018. The Average Period of Production: History of an Idea
Journal of the History of Economic Thought, Vol. 40, No.1, pp. 81-98
Peter Lewin • Nicolas Cachanosky
DOI: 10.1017/S105383721700013X

2018. The Grecian Horse: Does Immigration Lead to the Deterioration of American Institutions?
Public Choice, Vol. 30, No. 2, pp. 169-192
Alexandre Padilla • Nicolas Cachanosky
DOI: 10.1007/s11127-018-0509-5

2017. Secular Growth in Garrison’s Model: A Comment
The Quarterly Journal of Austrian Economics, Vol. 40, No. 5, pp. 354-359
Nicolas Cachanosky

2017. Entrepreneurship and Bitcoin: Breaking the Network Effect
The Review of Austrian Economics, Vol. 30, No. 3, pp. 263-275
Malavika Nair • Nicolas Cachanosky
DOI: 10.1007/s11138-016-0348-x

2017. Austrian Economics, Market Process, and the EVA Framework
Journal of Business Valuation and Economic Loss Analysis, Vol. 12 (s1)
Nicolas Cachanosky
DOI: 10.1515/jbvela-2016-0014

2017. The Myth of the Natural Resource Curse: A Case Study for Algeria
The Journal of Private Enterprise, Vol. 32, No. 2, pp. 1-15
Mohammed Akacem • Nicolas Cachanosky

2017. The View from Vienna: An Analysis of the Renewed Interest in the Mises-Hayek Theory of Business Cycles
The Review of Austrian Economics, Vol. 30, No. 2, pp. 169-192
Nicolas Cachanosky • Alexander W. Salter
DOI: 10.1007/s11138-016-0340-5

2017. A Mathematical Version of Garrison’s Model
The Quarterly Journal of Austrian Economics, Vol. 19, No. 3, pp. 225-247
Nicolas Cachanosky • Alexandre Padilla

2016. Offsetting and Sterilization Mechanisms in Argentina (1992-2014)
Credit and Capital Markets, Vol. 49, No. 4, pp. 515-534
Nicolas Cachanosky • Carolyn Thomas

2016. Ludwig von Mises’s Approach to Capital as a Bridge Between Austrian and Institutional Economics
Journal of Institutional Economics, Vol. 12, No. 4, pp. 847-866
Eduard Brown • Peter Lewin • Nicolas Cachanosky
DOI: 10.1017/S1744137416000102

2016. An Empirical Application of the EVA Framework to Business Cycles
Review of Financial Economics, Vol. 30 (September), pp. 60-67
Nicolas Cachanosky • Peter Lewin
DOI: 10.1016/j.rfe.2016.06.006

2016. Indirectly Productive Entrepreneurship
Journal of Entrepreneurship and Public Policy, Vol. 5, No. 2, pp. 161-175
Alexandre Padilla • Nicolas Cachanosky
DOI: 10.1108/JEEP-03-2015-0016

2016. Financial Framework for Understanding Macroeconomic Cycles: The Time Structure of Production is Relevant
Journal of Financial Economic Policy, Vol. 8, No. 2, pp. 268-280
Peter Lewin • Nicolas Cachanosky
DOI: 10.1108/JFEP-07-2015-0041

2016. Financial Foundations of Austrian Business Cycle Theory
Advances in Austrian Economics, Vol. 20, pp. 15-44
Nicolas Cachanosky • Peter Lewin
DOI: 10.1108/S1529-213420160000020002

2016. Argentina’s Post 2001 Economy and the 2014 Default
The Quarterly Review of Economics and Finance, Vol. 60 (May), pp. 70-80
Nicolas Cachanosky • Carolyn Thomas
DOI: 10.1016/j.qref.2015.08.002

2016. Monetary Policy, the Composition of GDP, and Crisis Duration in Europe
Global Economic Review, Vol. 45, No. 2, pp. 206-219
Andreas Hoffmann • Nicolas Cachanosky
DOI: 10.1080/1226508X.2015.1137484

2015. Fiscal Policy and Crowding Out Effects in Capital Based Macroeconomics with Idle Resources
The Journal of Private Enterprise, Vol. 30, No. 4, pp. 81-95
Adrián O. Ravier • Nicolas Cachanosky

2015. U.S. Monetary Policy’s Impact on Latin America’s Structure of Production (1960-2010)
Latin American Journal of Economics, Vol. 52, No.1, pp. 95-116
Nicolas Cachanosky
DOI: 10.7764/LAJE.52.1.95

2015. Expectations in Austrian Business Cycle Theory: Market Share Matters
The Review of Austrian Economics, Vol. 28, No. 2, pp. 151-165
Nicolas Cachanosky
DOI: 10.1007/s11138-014-0267-7

2015. Implications of Machlup’s Interpretation of Mises’s Epistemology
Journal of the History of Economic Thought, Vol. 37, No. 1, pp. 111-138
Gabriel J. Zanotti • Nicolas Cachanosky
DOI: 10.1017/S1053837214000777

2015. A Proposal of Monetary Reform for Argentina: Flexible Dollarization and Free Banking
The Independent Review, Vol. 19, No. 3, pp. 397-426
Nicolas Cachanosky • Adrián O. Ravier

2014. Roundaboutness is not a Mysterious Concept: A Financial Application to Capital Theory
The Review of Political Economy, Vol. 24, No. 6, pp. 648-665
Nicolas Cachanosky • Peter Lewin
DOI: 10.1080/09538259.2014.957475

2014. The Mises-Hayek Business Cycle Theory, Fiat Currencies, and Open Economies
The Review of Austrian Economics, Vol. 27, No. 3, pp. 281-299
Nicolas Cachanosky
DOI: 10.1007/s11138-012-0188-2

2014. The Effects of U.S. Monetary Policy in Colombia and Panama (2002-2007)
The Quarterly Review of Economics and Finance, Vol. 53, No. 3, pp. 428-436
Nicolas Cachanosky
DOI: 10.1016/j.qref.2014.03.003

2014. Hayek’s Rule, NGDP Targeting, and the Productivity Norm: Theory and Application
Journal of Stock & Forex Trading, Vol. 3, No. 2, pp. 1-9
Nicolas Cachanosky
DOI: 10.4172/2168-9458.1000121

2013. Huerta de Soto’s Concerted Expansion: A Prisoner’s Dilemma in Free Banking?
Laissez-Faire, Vol. 38-39, pp. 1-6
Nicolas Cachanosky

2012. Mises on Fractional Reserves: A Review of Huerta de Soto’s Argument
New Perspectives on Political Economy, Vol. 7, No. 2, pp. 203-230
Nicolas Cachanosky

2012. The Law of National Guaranteed Banks in Argentina (1887-1890): Free Banking Failure or Regulatory Failure?
The Independent Review, Vol. 16, No. 4, pp. 569-590
Nicolas Cachanosky

2011. A Comment on Barnett and Block on Time Deposit and Bagus and Howden on Loan Maturity Mismatching
Journal of Business Ethics, Vol. 104, No. 2, pp. 219-221
Nicolas Cachanosky
DOI: 10.1007/s10551-011-0900-3

2011. Calculation and Equilibrium Problems in Coase Theorem
Quarterly Journal of Austrian Economics, Vol. 14, No. 1, pp. 63-77
Nicolas Cachanosky

2010. The Endogenous Stability of Free Banking: Crisis as an Exogenous Phenomenon
New Perspectives on Political Economy, Vol. 6, No. 1, pp. 31-48
Nicolas Cachanosky

2010. The Austrian School and Game Theory: An Analysis of Spontaneous Orders
Revista de Instituciones, Ideas y Mercados, No. 52, pp. 52-58
Nicolas Cachanosky

2009. The Definition of Inflation According to Mises: Implications for the Debate on Free Banking
Libertarian Papers, Vol. 1, No. 9, pp. 1-7
Nicolas Cachanosky

Non-Refereed Journal Articles

2021. The Austrian School: 150 Years
LIBERTAS: Segunda Época, Vol. 6, No. 1, pp. 1-11
Nicolas Cachanosky

2021. Capital: Three-Dimensionally Speaking
LIBERTAS: Segunda Época, Vol. 6, No. 1, pp. 1-11
Peter Lewin • Nicolas Cachanosky

2019. What is so Extreme About Mises’s Extreme Apriorism: Reply to Scott Scheall
LIBERTAS: Segunda Época, Vol. 4, No. 1, pp. 1-6
Gabriel J. Zanotti • Nicolas Cachanosky

2017. Economic and Philosophical Implications of Hayek’s Knowledge Problem
LIBERTAS: Segunda Época, Vol. 2, No. 1, pp. 67-79
Nicolas Cachanosky • Alexandre Padilla

2017. Monetary Policy in India and the U.S.: Is the Taylor Rule Relevant?
International Review of Business & Economics, Vol. 1, No. 1
Bansi Sawhney • Kishore Kulkarni • Nicolas Cachanosky

2016. La Matemática y la Tradición Austriaca: Respuesta a Rafael Beltramino
LIBERTAS: Segunda Época, Vol. 1, No. 2, pp. 95-103
Nicolas Cachanosky

2016. Problemas Matemáticos en la Teoría de Precios
LIBERTAS: Segunda Época, Vol. 1, No. 1, pp. 11-27
Juan C. Cachanosky • Nicolas Cachanosky

Book Chapters

Forthcoming. Hayek’s Two Epistemologies: Economics and Sciences in General
In Candela, R. (ed.) UFM Companion to F. A. Hayek.
Gabriel J. Zanotti • Nicolas Cachanosky

Forthcoming. Hayek’s Average Period of Production: A Step Forward and a Missed Opportunity
In Candela, R. (ed.) UFM Companion to F. A. Hayek
Nicolas Cachanosky • Peter Lewin

2023. Accounting and Finance: Capital and Cost in Economics
In Horwitz, S., and Rouanet, L. (eds.) A Research Agenda for Austrian Economics
Peter Lewin • Nicolas Cachanosky

2022. Can Cryptocurrencies become a Commonly Accepted Means of exchange?
In Caton, J. (ed.) The Economics of Blockchain and Cryptocurrency.
Nicolas Cachanosky

2022. Capital Theory and the Theory of the Firm
In Bylund, P. (ed.) Modern Guide to Austrian Economics.
Peter Lewin • Nicolas Cachanosky

2018. Unintended Consequences of ECB Policies in Europe’s Periphery
In Godart-van der Kroon, A., and Volanthen, P. (eds.) Banking and Monetary Policy from the Perspective of Austrian Economics. Springer
Andreas Hoffmann • Nicolas Cachanosky

2017. El Deterioro Económico de Argentina Durante el Gobierno Kirchner-Kirchner
In Arqueros, C. and Iriarte, A. (eds.) Chile y América Latina: Crisis de las Izquierdas del Siglo XXI. Chile: Instituto Res República and Instituto del Desarrollo
Nicolas Cachanosky

2017. Economic Value Added: Una Aplicación Financiera al Análisis Económico
In Giménez Bonet, W., and Tournisov, A. (eds.) Libertad y Convicciones: Ensayos en Honor al Dr. Juan Carlos Cachanosky, Chapter 3. Guatemala: Editorial Episteme.
Nicolas Cachanosky

2015. Employment VISAs: An International Comparison
In Powell, B. (ed.) The Economics of Immigration: Market-Based Approaches, Social Science, and Public Policy, Chapter 5, pp. 92-142. Oxford: Oxford University Press.
Alexandre Padilla • Nicolas Cachanosky

2012. Una Introducción a la Economía Clásica
In Ravier, A. (ed.) Lecturas de Historia del Pensamiento Económico. Madrid: Unión Editorial. Chapter VIII, pp. 147-166
Nicolas Cachanosky