Working Papers
-
Conference paper
Is Mercantilism Doomed to fail? China, Germany, and Japan and The Exhaustion of Debtor Countries
Apr 2013
Mercantilism, Accumulation of Foreign Exchange Reserves, and RMB Internationalization
-
Conference paper
Surveillance, Regulation and Supervision -a solution for the euro?
Apr 2013
Regulation and supervision of banks and financial markets are now upgraded in the euro area. Surveillance of macroeconomic performance of all EU countries is also intensified.
-
Conference paper
If Not Now, When? Financial Reform Must Not Await Another Crisis
Apr 2013
In the first ten chapters of our book, The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It, we discuss banking and the economics of funding as it applies to banks.
-
Conference paper
The European Tragedy: What Way Out?
Apr 2013
Europe can choose its musical accompaniment. In Berlin, 50 Cent’s All Things Fall Apart has just had its premiere. Or go back to Giuseppe Verdi, born two hundred years ago.
-
Conference paper
Renminbi Internationalization: Tempest in a Teapot?
Apr 2013
Internationalization of the renminbi is a stated goal of the Chinese government, its brief flirtation with Special Drawing Rights and an Asian Currency Unit notwithstanding. Chinese officials understand that a dollar-centric international monetary and financial system is a mixedblessing.
-
Conference paper
Something for Everyone: Building Incentives for Innovation Ecosystems
Apr 2013
Healthy innovation economies are the main driver of prosperity in the 21st century. But the three players that have traditionally sponsored basic research and invention in those economies are no longer willing or able to perform that role.
-
Conference paper
Scarcity, Preferences and Cooperation: A Mimetic Analysis
Apr 2013
In “The Ambivalence of Scarcity” which is my contribution to L’Enfer des choses. René Girard et la logique de l’économie, written by Jean-Pierre Dupuy and originally published in French in 1978, I attempt to apply mimetic theory to modern economics and to economicphenomena, and also to explain why economic issues and economics as a discipline occupy such an important place in the modern world.
-
Conference paper
Monetary and Financial Stability: Lessons from the Crisis and from classic economics texts
Apr 2013
My remarks today will be focused primarily on features of the developed world’s financial system which led to the crisis of 2008 and to the Great Recession that followed, from which we are only slowly and painfully emerging.
-
Conference paper
Comments by William White on the Presentation by Lord Adair Turner
Apr 2013
In his recent lecture at the Cass Business School, Lord Turner noted that even mentioning the possibility of overt monetary financing was akin to breaking a taboo.
-
Conference paper
David Sainsbury: Innovation Systems
Apr 2013
A striking feature of the neoclassical economic theory which has been dominant in Western universities in recent years is that it has had so little to say about innovation and innovation policy which is useful for policy-makers.
-
Conference paper
Crisis and the Sacred
Apr 2013
It would be nonsensical to blame economists for not foreseeing the crisis; even less for causing it. It was obvious there would be a crisis. It was impossible to foresee how it would start and evolve, and at what moment these events would occur.
-
Conference paper
Individual Judgments, Social Values, and Mimetic Interactions
Apr 2013
The problem of value has always occupied a central place in economic thought and debate.
-
Grantee paper
If Technology Has Arrived Everywhere, Why Has Income Diverged?
Mar 2013
We study the lags with which new technologies are adopted across countries, and their long-run penetration rates once they are adopted.
-
Grantee paper
The Inevitability of Shadowy Banking
Mar 2013
Shadowy banking is safety-net arbitrage. It employs substitutes for products and activities performed within the traditional banking sector.
-
Grantee paper
Aggregate Demand, Instability, and Growth
Feb 2013
This paper considers a puzzle in growth theory from a Keynesian perspective.