From the Blog
New research shows how citation metrics create perverse incentives for corruption in economics
Summers and Stansbury mark a dramatic shift from New Keynesian orthodoxy, but only make it halfway to understanding the demand-driven nature of stagnant growth
Mott walks us through answers many careful readers of Kalecki, Keynes, Steindl, and Minsky knew all along.
An update from the meeting of the Commission on Global Economic Transformation (CGET) in Cape Town
Many indicators say the US is close to full employment: Hours of work tell a different story.
How Investor-owned Physician Practices Are Driving up Healthcare Costs
A Comment on Summers and Stansbury
Why Pushing on a String Has Never Worked
INET Video
GDP doesn’t tell the whole story—Robert McMaster explains the Economic Democracy Index
Wade Hands argues that empiricism without theory is insufficient
What is economics for? What is it about? How should it be done? How can it be of use to us? How is it connected to morals and politics?
An animated look at economic history with Robert Skidelsky
The New York Times’ Binyamin Appelbaum explains the role Democratic presidents, from Kennedy to Obama, in moving economic policy to the right
Risky lending took down the global economy in 2008. Tracking it now is a vital job for economists, says Juliane Begenau
Economics needs to better incorporate other social sciences
Progressive movements can and should push for pluralism in economics
Economics is often thought of as emotion-less, but Daniel Benjamin argues for happiness as a vital indicator
Working Paper Series
The Chicago School has long used bankrupt assumptions to strangle antitrust policy.
We adapt simple tools from computational linguistics to construct a new measure of political risk faced by individual US firms: the share of their quarterly earnings conference calls that they devote to political risks.
It was too good to be true: Another effort to vindicate austerity falls victim to flawed methodology.
Frequent civil conflicts in African countries may erode national identity, thus highlighting a reason why civil conflict is costly for growth and development
Everyone is waking up to the fact that estimates of what is possible in the economy are way off: this paper explains why
This paper presents an historical analysis of the antitrust laws.
Why Italy’s woes are a warning to the whole Eurozone
Prisoners employed in manufacturing constitute 4.2% of total U.S. manufacturing employment in 2005; they produce cheap goods, creating labor demand shock.
This paper introduces the Knightian Uncertainty Hypothesis (KUH), a new approach to macroeconomics and finance theory.
Asset markets are indispensable in harnessing society’s diverse views and insights about future business performance. But those views are shaped as much by emotion and crowd mentality as by rational expectations.