Archive

The adoption and diffusion of inputs in the production network is at the heart of technological progress. What determines which inputs are initially considered and eventually adopted by innovators? We examine the evolution of input linkages from a network perspective, starting from a stylized model of network formation.

As Greece descended into a financial maelstrom in the spring of 2010, a small group of staffers at the International Monetary Fund (IMF) held top-secret talks with officials from the German and French finance ministries to discuss the idea of restructuring Greece’s debt.

Gudrun Johnsen on Iceland, “womenomics”, and Finance & Society

Writing the history of economic journals is not merely a way to reconstruct the development of new fields and new approaches to economics. It also recasts current debates on peer-review, retractions, open-access, replicability, and bias in scientific publishing in a wider perspective. It answers important questions on the influence of editors, publishers and referees on the development or marginalization of various economic approaches. But such endeavour requires the preservation of journals’ archives, the recognition of historical expertise, and economists’ adoption of a more relaxed and humble approach to their history.

Economists and historians of economics have constructed different (and sometimes conflicting) narratives about the past of their field. In fact what is history for economists may not be what is history for historians. To celebrate its 125th anniversary, the Economic Journal invited renowned economists to discuss important contributions published in the past by the journal and the works on similar topics by historians of economics are absent from these accounts. History of economics here seems to have the weight of a JEL descriptor attached to an invited contribution, which we ought to agree that it is not much.

It Could Fall On You.

A member of the Austrian Central Bank tells us his research on wealth and income inequality in Europe.

This paper presents an experiment investigating the effect of social identity on hiring decisions. The question is whether people discriminate between own and other group candidate

In recent decades, advanced economies have experienced low and stable inflation and long periods of liquidity trap. We construct an alternative business-cycle model capturing these two features by adding two assumptions to a money-in-the-utility-function model: the labor market is subject to matching frictions, and real wealth enters the utility function. These assumptions modify the two core equations of the standard New Keynesian model

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

The Institute for New Economic Thinking responds to an evident need for innovative approaches to understanding economic and financial processes.

Emulate Richard Feynman: Lean over backwards so you do not fool yourself, and teach your students the discipline correctly from the start, rather than teaching them things at the start you will have to unteach them later.

At least the Labour Party has only promised to cut day-to-day spending, not public investment.

Here we are, some 7 years after the Great Financial Crisis, and not one senior banking executive has gone to jail.