5810 Results for “ https://www.galaxus.ch/en/sector/showdiscussion/snap-hack-online-visit-kunghaccom-d2d1mo9k-226342”

This research project constructs new measures of slavery as a state-sanctioned property rights institution and documents how slavery impacted economic development in US history.

Out of Ammunition? A discussion on central banking and secular stagnation with Larry Summers and Adair Turner

How Penrosian Learning Confronts the Neoclassical Fallacy

Gisele Huff, education policy specialist and president of the Gerald Huff Fund for Humanity, along with john a. powell, director of UC Berkeley’s Othering & Belonging Institute, talk about the motivations and process behind the soon-to-be-released report, “Convening on Automation, Opportunity, and Belonging: Vision and Foundations for a Better Society.”

The global financial crisis—and the Great Recession that followed—have inflicted tremendous economic and social damage across the world. Thankfully, we now appear to be on the path to recovery—though it remains sluggish and uneven, and in need of continued policy support in many advanced economies.

We need a dual approach to AI: steer technology in the short term while building new systems for the long term.

What is the purpose of markets?

Leijonhufvud has questioned the flawed fundamentals of economics. And he has explored the spread of contagion in undermining the web of contracts that are the basis for capitalism.

The organizers of Duke’s Summer Institute on the history of economics were so worried that students might be embarrassed to ask their supervisors for a letter of recommendation, or that the supervisors would say it’s a waste of time to study history, so they took a last minute decision to cancel the need for a letter of recommendation.

This project brings new mathematical tools and ideas from high-dimensional statistics to bear on the problem of creating reliable macroeconomic forecasting models.

This article proposes a new “Concentric Circle framework” which would improve workers’ access to civil, labor, and employment rights.

We assess the Carbon-Kuznets-Curve hypothesis using internationally consistent and comparable production-based versus consumption-based CO2 emissions data for 40 countries (and 35 industries) during 1995-2007 from the World Input Output Database (WIOD).

Inspired by the Coasean “market vs firm” dichotomy, we offer a new definition of efficiency by applying the notions of network cost and network efficiency as developed in complex network theory.

This paper proposes a theoretically based and easy-to-implement way to measure the systemicrisk of financial institutions using publicly available accounting and stock market data.

The fact of the matter is that European bank funding markets are collapsing onto the ECB balance sheet.

Nina Banks assesses the legacy of the first African-American economist in the United States

Xavier Gabaix argues that public policies should prioritize alleviating deprivation at the bottom over narrowing the rich-poor gap 

This paper provides a careful and synthetic overview of his contributions as well as a reconstruction of Pasinetti’s philosophical approach to economics as a science meant to serve humanity.

The Nobel Memorial Prize defines high achievement in economics, and it validates the discipline’s claim for scientific authority. And yet, historically, it can be understood as a reflection of domestic policy conflicts in Sweden.

This research project establishes a long-run global picture of economic inequality as revealed by fiscal records and analyzes the long-run drivers of inequality as well as the distributional impact of banking crises.

This research project captures systemic risk of the credit market by combining information about the level of fragility of individual economic entities with the network structure of their mutual credit exposures.

This research project investigates the influence of economic doctrines on policy norms in recent decades through analysis of the history of the Nobel Prize in Economics.

This research project recounts the intellectual history of the dollar as an international reserve currency, starting with World War I, which brought the international gold standard to an end, and continuing all the way up to the present global financial crisis.

Featuring sessions on Oil Shock and the Global Economy, Sovereign Wealth Funds, and the Political Economy of Oil.

As young scholars we are confronted with many challenges: publishing, teaching, the job market, work-life balance and institutional barriers, often we face these demands alone and without much institutional or even moral support.

An Interview with the Author of “The New Lombard Street: How the Fed Became the Dealer of Last Resort”

Good incentives are no substitute for good citizens.

Ever since 2008, increasing numbers of economists, students, and even market professionals have protested the way economics is currently taught and practiced.

The Institute for New Economic Thinking (INET) today announced a significant infusion of funding that over the coming years will make the organization self-sustaining and enable INET to dramatically expand its global reach, scale, and scope.

Nicola Sturgeon covers a range of topics including how economists’ work relates to policymaking, the financial crisis and the dangers of groupthink, how dissatisfaction with stagnating wages and rising inequality played into political shocks like Brexit, the legacy of Adam Smith, why new economic thinking is so important, and what her government is doing to foster and apply it. 

What Donald Trump does well, Professor john a. powell explains, is link economic concerns with ontological and racial concerns among his voters. Many economists and social justice activists, by contrast, try to reduce racial concerns to economic and class concerns. His presentation demonstrates the centrality, conscious or unconscious, of belonging and ‘otherness’ in comprehending the structures of society.

The SSGAC is a research infrastructure designed to stimulate dialogue and cooperation between medical researchers and social scientists. The SSGAC facilitates collaborative research that seeks to identify associations between specific genetic markers (segments of DNA) and behavioral traits, such as preferences, personality and social-science outcomes.

Central banks strongly favored rentier incomes in their reaction functions

Has the euro experiment largely failed to meet the needs of the people who use it? If so, what can be done? Andrea Terzi suggests innovative ways to repair the Eurozone’s flawed fiscal architecture.

Greece: reculer pour mieux sauter

Before the dollar there was the pound, and after the dollar there will be something else.

A money view of the commodity bubble

Conventional wisdom asserts that American politics is becoming more and more tribal. But the chiefs of the tribes share a lot in common: dependence on big money.

Trevon Logan discusses the impact of structural racism in health and economics

Nicola Sturgeon covers a range of topics including how economists’ work relates to policymaking, the financial crisis and the dangers of groupthink, how dissatisfaction with stagnating wages and rising inequality played into political shocks like Brexit, the legacy of Adam Smith, why new economic thinking is so important, and what her government is doing to foster and apply it. 

This paper proposes a new method to empirically validate simulation models that generate artificial time series data comparable with real-world data.

In directing panelists to distinguish between what governments “can” and “will” do, this session’s title frames economic policymaking as a balancing act. Principled efforts to define and pursue the public interest are contested and repeatedly knocked off course by conflictingpersonal, bureaucratic, and political concerns that impinge on government decisionmakers.

The term human capital describes a set of skills, strengths and know-how that are valuable—both in the narrow sense of being “commercially valuable” (Lindsey, 2013), and the wider one of contributing to a flourishing, deliberate, purposeful life.As Heckman (2014) puts it: “Skills are capacities to act [emphasis added]…They shapeexpectations, constraints, and information” (p. 6).

How America’s chip leader lost its edge.

At dinner yesterday Niall Ferguson made the argument that China (or the East) were perhaps no longer looking to how Western countries had built their social institutions and formed their empires, and were instead now doing their own thing as the Western approach was shown to be flawed

INET co-founder George Soros is calling on Germany to lead Europe out of its economic doldrums or get out of monetary union altogether.

This research project studies the macroeconomic effects of rising inequality by focusing not on top incomes but instead on the economics of the “bottom 99%” which has been squeezed out by rising inequality and falling labor shares.

As the collapse of global supply chains highlights the fragility that comes with economic interdependence, the pandemic is fueling the rise of ethnonationalism. Policy decisions in response to the crisis will play an important role in determining the fate of the world economy.

This episode features Pier Carlo Padoan, Chief Economist and Deputy Secretary-General of the OECD, talking about the euro zone crisis, Europe’s structural problems, and how uncertainty has damaged economic growth in Europe.

Does it matter if the Rational Expectations Hypothesis is unrealistic?

A money view of SDRs

When I started this blog, almost exactly one year ago today, my thought was to provide commentary on the financial events of the day, using the Financial Times as my primary source of information about those events.

Last year I pointed out here (and here) that macroeconomists were making themselves comfortable in the blogosphere to discuss theoretical, methodological, and, why not, historical issues of their field (see also a nice post by our fellow kid, Beatrice).

Why we should worry about job quality, not quantity—or robot overlords

This paper records the path by which African Americans were transformed from enslaved persons in the American economy to partial participants in the progress of the economy.

Frequent civil conflicts in African countries may erode national identity, thus highlighting a reason why civil conflict is costly for growth and development

Decomposition by such an important category as gender helps us understand the economy at the macro level, and design macroeconomic policy, better. It also provides the foundation for advocating equal gender rights and outcomes. But, where gendered policy issues arise in mainstream macroeconomics (income maldistribution, labour market composition, etc.) the subject matter is narrowed by its microfoundations, by focusing on GDP growth and on suboptimal outcomes being explained by market imperfections.

This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt-growth relation varies with the level of indebtedness.

Europe is embarked on a grand experiment, managing modern financial crisis without a dealer of last resort, so refusing to follow the lead of the 2008 Fed.

Imperfect knowledge economics, or IKE to their friends, is popular with all the popular kids. George Soros, Bill Janeway and Anatole Kaletsky were in attendance as Roman Frydman and Michael Goldberg - or more properly, their students - showed the latest work in progress.

This week Bernanke spoke to the International Association for Research in Income and Wealth, and, as Bloomberg Businessweek notes, he was singing a different tune.

Using aggregate campaign finance data as well as a Transformer based text embedding model we can predict roll call votes for legislation in the US Congress with more than 90% accuracy.

…That Five Years of Full Employment Wouldn’t Fix

As Covid-19 spreads globally in the first quarter of 2020, this paper finds that firms’ primary concerns relate to the collapse of demand, increased uncertainty, and disruption in supply chains

This paper discusses household debt as a long term phenomenon that influences economies beyond crises.1 In other words, rather than look at how household indebtedness can lead to crises, I will focus on its surprising persistence at very high levels, and its interactions along the way with other key variables, such as public policies and spending. The first section describes some stylized facts and the final section explores the macroeconomic consequences.

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.

If primary commodities and mid-to-high-tech manufacturing products are produced by industries with different wage shares, there are distributive implications of deepening trade integration with certain regions with respect to others.

How women economists expand orientations and perspectives that can transform economics into a pluralistic, critically engaged, and socially responsive discipline.

This paper examines the World Bank’s protracted and conflicted attempts at shareholding reform from 2008 to the present, situating them within the broader context of multipolarity and intensifying geopolitical rivalries.

Young Scholars from the YSI working groups on Innovation, Complexity Economics, Philosophy of Economics and Financial Stability will present their research at a one-day workshop following The Economics of Post-Factual Democracy conference in Copenhagen, Denmark.

This research project addresses the problem of inferring causal relationships in economics. It investigates the philosophical roots of the problem and develops econometric tools which take into account the complexity of economic systems.

This research project investigates the rise of federal credit programs in the United States, leading to a better understanding of the development of federal credit programs.

This research project focuses on the role of the representative agent in recent macroeconomics and general equilibrium theory, with a particular emphasis on how different the situation was in the economic theorizing of the first neoclassical synthesis during the 1950s.

This paper analyzes the performative impact of the European Commission’s model for estimating ‘potential output’, which is used as a yardstick for measuring the ‘structural budget balance’ of EU countries and, hence, is crucial for coordinating European fiscal policies.

Using a unique dataset provided by the Center for Responsive Politics (CRP), we document a direct channel through which financial institutions contribute to the net worth of members of the U.S. Congress, particularly those sitting on the finance committees in the Senate and the House of Representatives.

Should China internationalize the RMB? Will it take the lead on sustainable development? Can it maintain growth and productivity?

This blog interprets and presents critical commentary on the textbook “Microeconomic Theory” by Andreu Mas-Colell, Michael Whinston and Jerry Green, which is widely used in Ph.D. programs in economics around the world. The blog initially accompanies the course at the New School For Social Research entitled Advanced Microeconomics I (Fall of 2012, taught by Prof. Sanjay Reddy, with Raphaele Chappe as teaching assistant) and, as such, focuses on particular parts of the textbook which are used in that course. We welcome comments and contributions from interested persons anywhere.

The Arab Spring has been a fundamental event in the Arab world and yet among Middle East scholars, there is great intellectual and analytical debate about the degree of political change or continuity that the Arab Spring had produced. As reverberations of the global economic crisis have continued and the international rules of the game have fundamentally remained unchanged, the demand on post-Arab Spring governments to change policy course is high.

Social safety nets don’t always need to come with a dark side

The future of government mortgage support

In light of the growing concerns over the coronavirus, we have decided to postpone the INET Plenary to October 13-15, 2020 (originally slated for April 13-15, 2020)

I thought I was on to an inside reference when re-reading the General Theory when Keynes calls Marx, Edgeworth and others simply by name, but refers to “Professor Pigou” in several instances.

Can the Economy be Saved? The Los Angeles Times recently asked a number of economic experts about whether they thought the post-financial crisis economy can be saved, and if so, how.

Many studies of the effect of climate change on GDP seriously mislead the research community, policymakers, and the general public.

Doing Capitalism in the Innovative Economy

I always think of Adam Smith when I hear the term ‘division of labour’ - but I’m being cured of this by reading a bit more about Britains late 18th century in Jenny Uglow’s The Lunar Men.

The Institute for New Economic Thinking at Oxford researchers and collaborators data mine 200 years of US Patent Office records to uncover the true nature of innovation.

The refrain for some time now has been that the economy will decide the upcoming U.S. election. But Joe Stiglitz offers some much needed focus to this discussion.

We want an economy that generates stable and equitable growth—or what I call “sustainable prosperity.” We want productivity growth that makes it possible for the population to have higher living standards over time. We want an equitable sharing of the gains from productivity growth among those whose work efforts and financial resources contribute to that growth. And we want sufficient job stability to enable workers to remain in productive employment for some four decades at work while providing them with enough savings to provide them with adequate incomes over some two decades of retirement.

This research project shows what economists can learn from political philosophers in thinking about economic inequality while also investigating the philosophical significance of recent empirical work on inequality, within economics and elsewhere.

The Institute for New Economic Thinking joined the Centre for International Governance Innovation (CIGI) in holding its fifth Annual Conference from April 10 to April 12, 2014 in Toronto.

Contrary to the neoclassical loanable funds theory, historical bond yields show Keynes was right that “convictions” anchor long-term interest rates

The Term Securities Lending Facility (TSLF) was one of the bigger (in dollar terms) emergency programs implemented by the Fed during the crisis of 2008.

The Institute extends its congratulations to Philip Lane, who has been named to succeed Patrick Honohan as the Irish central bank chief, and inherit his role on the council of the ECB.

In his opening remarks, Robert Johnson said that this “is not the institute of anything goes” with INET now getting to a point where it needs to stop criticising the mainstream and should instead “create a new vision.”