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Government safety nets give protected institutions an implicit subsidy and intensify incentives for value-maximizing boards and managers to risk the ruin of their firms. Standard accounting statements do not record the value of this subsidy and forcing subsidized institutions to show more accounting capital will do little to curb their enhanced appetite for tail risk.

“If we get our policy, politics, and institutions right, African economies and society could gain greater energy and food security, built on green competition and taking strong action on climate change.“ —Professor Chuks Okereke, Director of the Centre for Climate Change and Development at Alex Ekwueme Federal University

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.

The limitations of the benchmark E-DSGE framework and how these limitations restrict the ability of this framework to meaningfully capture the macroeconomics of the climate crisis.

Ten years ago, the financial crisis washed away faith and trust in economics as a guide to social prosperity. Filling a void is difficult. We are still hard at work. 

Beatrice Cherrier remembers Tony Atkinson’s influential intellectual, educational and institutional contribution to the field of public economics

During this interview, Professor Kako Nubukpo, Dean of the Faculty of Economics at the University of Lomé, Togo and former Minister of Prospective and Evaluation of Public Policy of Togo considers the economic and social impact of the COVID-19 crisis and its repercussions on monetary policy and fiscal reforms underway in West and Central Africa today.

An interview with Pr Benno Ndulu, the former Governor of the Bank of Tanzania, for INET’s series on COVID-19 and Africa

This research project develops a theoretical framework to examine the relation between arbitrage capital and the price properties of different asset markets.

A review of regional integration in Africa

The notion of “field” is so pervasive that economists hardly pay conscious attention to it.

Like master illusionists, bank accountants conceal losses from federal regulators, putting the whole economy at risk

Under the shared premise that no country alone can address the multiple challenges posed by intertwining and intensifying economic, social and environmental crises, this year’s lectures will discuss prospects and obstacles for a green and equitable transformation of the global economy.