Archive

Why are we paying for corporate behavior that crushes innovation, cheats taxpayers, cost jobs, and heightens inequality?

In 2003, McCullough and Vinod wrote, “Research that cannot be replicated is not science, and cannot be trusted either as part of the profession’s accumulated body of knowledge or as a basis for policy.”(1)

“Governments propose, markets dispose,” as Charles Kindleberger liked to say.

The United States economy has come apart, with the rich getting richer and workers’ incomes not advancing at all.

Spain’s future path for economic policy will soon be decided.

How much does the standard theory of externalities and public goods really say?

A gap between theory and reality has haunted economists.

A radical solution to the current economic malaise.

Sometimes a radical path is the most practical way out of a mess.

Throughout its first 10 years operation, the John Bates Clark medal was constantly challenged. Many young economists found it biased toward theory, and demanded the establishment of a distinct award for applied work.

Is an ancient financial taboo keeping us from prosperity? Adair Turner, author of a new book on global finance, explains.

In 1953, Oskar Morgenstern proposed to reform the eligibility criterion for fellows of the Econometric Society, in an attempt to foster empirical work.

Public funding behind the technology is the secret ingredient.

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.

This essay critically evaluates the benefits and costs of the dominant methodology in macroeconomics, the DSGE approach. Although the approach has led to great progress in some areas, it has also created biases and blind spots in the profession that hold back our understanding and our ability to govern the macroeconomy. There is great scope for progress in macroeconomics by judiciously pushing the boundaries of some of the methodological restrictions imposed by the DSGE approach.