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Leading expert says Iceland is showing the way on tackling a global peril.

A major shift is needed in the Econometrics curriculum for both graduate and undergraduate teaching to include modern topics.

How can we reconnect economic success to socioeconomic outcomes?

The New York Times has now pushed to the front page of today’s paper an issue of real relevance to INET: how new web tools are beginning to upend traditional peer review in academia.

Phenomenal World

Simon Johnson, Professor at MIT and former chief economist of the IMF, calls for much higher capital requirements for big banks.

Goodhart brings back on the table the 2% minimalist federal fiscal counterpart to monetary union: “As has been exemplified in the recent crisis, it is problematical to try to issue money without the power to support that via taxation. Equally without access to money (notably via taxes), the power to undertake counter-cyclical, or cross-country, stabilisation is limited. So, the second proposal is to revisit the exercise that was done, some twenty years ago, to assess what fiscal changes might be needed to accompany a single currency.”

In 2003, McCullough and Vinod wrote, “Research that cannot be replicated is not science, and cannot be trusted either as part of the profession’s accumulated body of knowledge or as a basis for policy.”(1)

Who does the economist serve: powerful interests or society?

This research project provides a better understanding of the processes that accompanied the reforms of the Austrian schilling in 1947 and the birth of the deutschmark in 1948 by merging archival sources with financial data from banks and markets and comparing the two reforms.

This research project lays a foundation for new and better long-run estimates of poverty and inequality around the world through the collection, digitisation, and harmonisation of household budget data.

This research project analyses the possibility of achieving economic and financial stability, high employment, and good social outcomes, in the presence of clearly defined resource and environmental limits, even if these mean some limits to economic growth.

This research project uses reflexivity thinking to develop a theory of reflexive economic agents whose behavior is central to both the theory of innovation and to the explanation of phenomena such as bubbles, cascades, and herding that are inconsistent with DSGE/rational expectations macroeconomics.

Human beings aren’t mechanical. And mechanistic economic theories can’t account for uncertainty or political instability and individual creativity.

The Institute for New Economic Thinking held its annual plenary conference in Hong Kong from April 4-7, 2013 at the InterContinental Hotel in Kowloon. The event discussed Asia’s emergence in the global economy and other core issues.