Archive
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Video
The Economics of Uncertainty
Nov 6, 2013
Studies in psychology, neuroscience, biology, and many of the social sciences have long illustrated that human beings react very different from what economics textbooks tell you to expect when they are operating under conditions of radical uncertainty.
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Working Paper
Grantee paperIncome Distribution and Current Account Imbalances
Oct 2013
We develop a three-country, stock-flow consistent macroeconomic model to study the effects of changes in both personal and functional income distribution on national current account balances.
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Video
What Math and Physics Can Do for New Economic Thinking
Oct 29, 2013
In this interview, Eric Weinstein explores many creative ways that physics and more sophisticated forms of math can be used to rescue economics from itself and restore its now tarnished reputation.
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Article
Finance and the Death of Trust
Oct 27, 2013
The destruction of trust is not an accident.
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Webinars and Events
Mathematics for New Economic Thinking
WorkshopOct 26–19, 2013
This workshop has the dual aim to expose mathematicians to new research problems in economics and economists to new techniques and developments in mathematics.
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Article
Cyprus Fiasco Could Undermine the Euro Zone
Oct 25, 2013
The rescue of Cyprus was a microcosm of how the nations of Europe have failed to work together to adequately address their ongoing financial crises.
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Article
We Can Do Better
Oct 24, 2013
In the aftermath of the 2008 financial crisis, distrust in the financial sector was widespread. Even after the mess appeared to be cleaned up, the uncertainty over whether the worst was over remained real.
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Article
Trust and Finance
Oct 24, 2013
Finance is built on trust. It is based on promises about tomorrow, often paper promises backed by nothing other than words on a page. When trust in those promises breaks down, so too does the financial system. That is the lesson of thousands of years of history.
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Video
What Causes Inequality? An Econophysics Approach
Oct 23, 2013
In standard economics, inequality in outcomes is typically attributed to inequality of inputs, for example, from differences in education. Yakovenko thinks about inequality in a different way by extending some ideas from statistical physics.
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Article
The World Needs Eurobonds Now More Than Ever
Oct 23, 2013
The United States government openly flirting with a default on its debt is, to the financial system, like a Pope wondering out loud about the existence of God.
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Article
America’s Debt-Ceiling Debacle
Oct 22, 2013
When Greece’s sovereign-debt crisis threatened the euro’s survival, U.S. officials called their European counterparts to express bewilderment at their inability to resolve the issue.
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Article
Human Capital and Economic Inequality
Oct 21, 2013
Inequalities in skills are fundamentally linked to economic and social inequalities.
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Article
Economic theory declassified?
Oct 19, 2013
So, most Nobel Prize exegetes went a long way, this week, toward explaining that asset pricing is not primarily born out of theoretical reflection but out of prize-deserving empirical work.
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Article
Sovereigns versus banks: Crises, causes and consequences
Oct 18, 2013
In the aftermath of the global financial crisis, few would dispute the risks of excessive borrowing. But which debts should one worry about – public or private? This column presents new research on the interplay of public and private debts since 1870 in 17 advanced economies. History demonstrates that excessive private-sector borrowing plays a greater role than fiscal profligacy in generating financial instability. However, when the credit boom collapses, the government’s capacity to alleviate the downturn is limited by the prevailing level of public debt.
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Video
Bringing History to Economics
Oct 17, 2013
This episode features grantee D’Maris Coffman of the Centre for Financial History talking about her organization’s commitment to a New Financial History and what the fruits of their approach can tell us about modern debt crises and sustainable debt levels.