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On this blog, we like to overstate quite a bit our irreverence towards the establishment and in particular our senior colleagues.

A formal argument that Kahneman and Tversky’s compelling empirical findings, and those of other behavioral economists, do not provide a basis for a general approach to specifying participants’ “predictable errors.”

We investigate the claim that the way in which debtor households service their debts matters for macroeconomic performance.

Examining the crucial role of poverty and inequality in shaping household indebtedness.

Why is the IMF getting involved in the Eurocrisis, and why is its involvement taking the form of lending to individual member states of the Eurozone?

This research project provides guidance to policymakers for designing policies that are able to bring economies out of recessions by identifying the best policies to fight unemployment and stabilize the business cycle while alleviating inequality.

This resarch project examines the economic theory, policy, and international political economy of cross border finance in the run up to and in the wake of the global financial crisis of 2008.

Smart Energy

Who gains—and who loses—from global capitalism?

Economist Gordon Lafer describes a race against the education technology industry to do what’s right for America’s kids

By helping abate the liquidity crisis, incidences of banks becoming insolvent are reduced, and hence moral hazard in its severest form is minimized.

An obituary for Axel Leijunhufvud (Sept 6, 1933 - May 5, 2022)

By suddenly eliminating two widely used bank notes, India’s government risks undermining public confidence in the basic means of exchange

Till is right. It’s not the historian’s task to question the legitimacy of the decisions of the Nobel Committee.

What kind of “Minsky Moment”?