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Article
The Fed’s “Chicken Run”: Why Sticking with High Rates Will Crash the Economy
Jun 24, 2024
In persisting with its high rates policy, the Fed is acting like James Dean in the famous “chicken run” auto race in Rebel Without a Cause.
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Article
ASSA Meetings: a Showcase for the History of Economics?
Jan 20, 2013
Economists and historians of economics have related differently over time, and the past of the discipline has then served for varied purposes.
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Article
Disaggregate, disaggregate!
Aug 21, 2011
Last June at a History of Social Science workshop , David Engerman presented a paper on the Harvard’s Refugee Interview Project (1950-1954).
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Article
Samuel Bowles Remembers Martin Luther King
Apr 5, 2018
The economist reflects back on the racial justice leader who showed him the limits of his academic training.
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Article
Inequality in the United States: A Darkening Horizon
Dec 19, 2016
Institute for New Economic Thinking-backed research into inequality explores how taxes and government policy have contributed to deepening economic inequality
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Article
Piketty Responds in Detail to FT Criticism
May 29, 2014
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Article
Fixing finance: The missing piece in banking reform
Jan 10, 2013
Eric Beinhocker and Tony Dolphin argue that lasting reform to the financial sector will not be achieved without tackling the price rigging and anti-competitive behaviour that is rife in the industry.
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Article
Between science and history
Jun 11, 2012
Last Friday, philosophers from the University of Leiden hosted the symposium ‘Between Science and History,’ in an attempt to figure out what the differences are between practicing scientists’ use of history and historians use of history.
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News
Avoiding a Bleak Future for the Euro
Dec 14, 2010
In a recent piece in the Financial Times, George Soros makes the case that, to avoid a bleak future for the euro and the European Union in general, Europe should take steps to recapitalize banks before bailing out member states. In the piece, Soros discusses issues that INET is very interested in exploring further, such as the idea that flaws in macroeconomic theory helped lead to the financial crisis of 2008.
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Webinars and Events
ON SRAFFA’S CHALLENGE TO CAUSALITY IN ECONOMICS
DiscussionJan 27, 2020
A Seminar of the Institute for New Economic Thinking, by Maria Cristina Marcuzo
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News
BRIC Buddies – China and Brazil Agree to Currency Swap
Jun 26, 2012
In a show of good faith between two rising economic powers, China and Brazil have agreed to a bilateral currency swap.
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Grant
Years granted: 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018Imperfect Knowledge Economics (IKE)
Note: As of March 2019, the Imperfect Knowledge Economics(IKE) Program has been re-launched as the INET Program on Knightian Uncertainty Economics (KUE). Please see the KUE page for updates on this body of work.
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Video
You're Irrational and It's OK
Feb 16, 2022
Should the government regulate personal behavior, or are the irrational choices of people actually reasonable?
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Podcasts
Charles Goodhart & Manoj Pradhan
Sep 11, 2020
Charles Goodhart, professor emeritus of the financial markets group at the London School of Economics, and Manoj Pradhan, founder of the research firm Talking Heads Macro, talk to Rob about their just released book, The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival
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Working Paper
Working paperAn investigation into Multivariate Variance Ratio Statistics and their application to Stock Market Predictability
Mar 2015
We propose several multivariate variance ratio statistics. We derive the asymptotic distribution of the statistics and scalar functions thereof under the null hypothesis that returns are unpredictable after a constant mean adjustment (i.e., under the weak form Efficient Market Hypothesis). We do not impose the no leverage assumption of Lo and MacKinlay (1988) but our asymptotic standard errors are relatively simple and in particular do not require the selection of a bandwidth parameter. We extend the framework to allow for a time varying risk premium through common systematic factors.