197 Results for “mehrling”

Delli Gatti starts where his dissertation advisor, Hyman Minsky, left off.

Discussions on the key conceptual and policy themes for sovereign debt sustainability with a view to proposing possible policy reforms.

What happens to Main Street when Wall Street fails? Japan expert David Weinstein squeezes a unique data set to answer this question.

What challenges will China have to surmount in order to make its currency a true international currency?

Economists aren’t born, they’re made. Irwin Collier digs into archives to find out how Paul Samuelson and his generation were made.

Are there more poor people on our planet today than there were last year? Many economists would approach this question as mainly a technical problem, a matter of counting.

Banks take on excessive risk since they know, in case of failure, the taxpayer will step in to rescue them. That is a form of free insurance, and Ed Kane wants to end it.

Over the past two hundred years, poor countries have become faster at adopting the technologies of rich countries. So why is it, the economist asks, that poor countries have remained poor, by and large?

Paul Samuelson was both a mathematical micro-economist, working from theorem to proof in the neoclassical tradition, and a committed Keynesian macroeconomist, convinced of the necessity of policy intervention to improve the performance of market economies. How did he square these two sides of himself? Wade Hands goes into the archives to find out.

When you flip a coin, you expect heads and tails to show up with a 50% chance each. But what if all you knew was that heads and tails each have a chance of at least 25%? That’s how Scott Condie captures Knightian uncertainty in asset markets.

Did the industrial revolution increase the relative demand for skilled labor, or decrease it?

When externalities are present and transaction costs are absent, private parties will strike welfare-enhancing deals regardless of who owns what. In a frictionless world, bargaining leads to efficiency. That is the essence of the Coase Theorem, and it is fiction, according to Steven Medema.

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.

We all know it: The financial sector is bloated and banks are too big to fail. But just how bloated is it, and how much should it be shrunk?

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.