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Pari passu clauses were deliberately crafted to gain an upper hand in sovereign bankruptcy disputes brought to the London stock exchange’s jurisdiction

In 1953, Oskar Morgenstern proposed to reform the eligibility criterion for fellows of the Econometric Society, in an attempt to foster empirical work.

Climate change is already here, and we are on a path towards catastrophic global warming. Governments have failed to curb carbon emissions, and fossil fuel production continues to increase. This is not merely a political failure; it is also a failure of economic analysis.

Research by INET grantees Atkinson, Casarico and Voitchovsky shows that women are starkly underrepresented in top earning brackets across a range of different countries

Has the Dodd-Frank Act had its intended effect?

YSI Philosophy of Economics working group is organising a workshop preceding the INEM conference.

Axiomatic bargaining is presented in MWG in the context of welfare economics (Ch. 22), the aim being the formulation of reasonable criteria for dividing gains resulting from cooperative endeavors (the “joint surplus”). It is further presented as an application of cooperative game theory, in which an arbitrator distributes the joint surplus in a manner that reflects “fairly” the bargaining strength of the different agents (although we could conceive of a situation where the parties are bargaining without an external party). If bargaining fails, the outcome is the parties’ own fallback positions (the threat point, or status quo).

“Governments propose, markets dispose,” as Charles Kindleberger liked to say.

In this “New Economic Thinking” interview, EBRD Chief Economist and Special Adviser to the President Erik Berglof, who also is a member of the Institute for New Economic Thinking’s Governing Board, discusses the report’s findings with Institute President Rob Johnson.

Together with Azim Premji University (APU), we’re creating opportunities for advanced PHDs, leading academics and experts to focus on the urgent problems facing the world’s most populous democracy.

There are a lot of universities represented here, but who are the most likely candidates for participation and who might one expect INET to be interested in?

Yanis Varoufakis and Joseph Stiglitz discuss Greece’s financial challenges and the associated Eurozone politics in this exclusive conversation.

A structural transformation is investing labour in Europe, accelerated by the crisis started in 2008. Job destruction is dominating employment trends in most EU countries and deep changes are taking place in labour relations, labour market institutions and wage regimes.

There is widespread and growing concern about the availability of good jobs in the U.S. economy. Inequality has been growing for thirty years and is now at levels not seen since the 1920s. Stable and remunerative employment has become harder for U.S. workers to find.

The concentration of innovation in a handful of urban centers engenders large and persistent regional disparities in economic opportunity.