Archive

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).

How can we better protect Main Street from the externalities of Wall Street?

As you may remember, I had decided to cease contributing to this blog a few months ago. Nevertheless, I thought I could use my completely illegitimate administrator rights to post one last piece dealing with the recent events in France

The turmoil of Brexit and the populist challenge across Europe are consequences of austerity policies that have brought misery to millions of ordinary voters. In this interview first published last January, Servaas Storm warned of the dangers of economic decision making divorced from democracy and from the social consequences of its prescriptions

Full paper is here. Comments are much welcome.And because it’s an epic story (and because I suck at writing abstracts), here is an audio trailer. I thank Paul for his beautiful Memphis accent.

A more realistic version of how people “maximize utility”

Few would argue that America’s fortunes rise and fall on its ability to generate technological innovations — to put bold ideas to work and then bring them to market.

One of the earliest attempts to tackle the problem of multiple equilibria in Macroeconomics was a byproduct of David Cass and Karl Shell’s engagement with Robert Lucas’s 1972 paper on ‘Expectations and the Neutrality of Money.’

Household economic surveys, such as the German Socio-Economic Panel, notoriously underestimate the degree of income and wealth inequality at the upper end of the distribution.