Articles

What exactly is an exchange rate?

The last straw in the enduring blog debate over microfoundations has taken a decisive historical turn.

Fears that bank regulation or capital controls could lead to a “balkanisation” of global capital markets are overstated and should not constrain policy action to address the problems created by volatile short term capital flows and excessive credit creation, says Adair Turner, Senior Fellow at the Institute for New Economic Thinking and former chairman of the United Kingdom Financial Services Authority.

Bubbles have become a major focus of discussion in today’s financial markets. But very few people actually define what they mean when describing this financial phenomenon.

In response to widespread discontent among students, employers, and university teachers, a project to create a new core curriculum for economics was launched at a seminar hosted by HM Treasury today. The CORE curriculum project, funded by the Institute for New Economic Thinking, convened the meeting, which was attended by academics, policymakers, business leaders, and students from around the world.

Why does Benn Steil’s history of Bretton Woods distort the ideas of Harry Dexter White?

When Greece’s sovereign-debt crisis threatened the euro’s survival, U.S. officials called their European counterparts to express bewilderment at their inability to resolve the issue.

Inequalities in skills are fundamentally linked to economic and social inequalities.

Sadly, it is questionable whether the economy has really improved.