Finance

This paper analyzes the Euro crisis in light of the experience of center-periphery relations over the last 40 years of renewed financial globalization.

Oral contraception created a population that, today, is disproportionately inclined to save, resulting in low to negative real interest rates. Excess eurozone savings can only be accomodated by raising sovereign debt levels

Like the Great Depression and the stagflation of the ’70s, the anemic growth of the U.S. economy can’t be understood or remedied without changes in economists’ thinking

We examine whether personal wealth interests affect politicians’ decisions about stabilizing financial markets.

New approaches are being developed, but efforts are fragmented and need to be brought together if we hope to piece together a paradigm. 

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

Institute for New Economic Thinking launches a far-reaching research effort into causes and potential remedies for the low-to-no-growth malaise afflicting many of the world’s leading economies

A conversation with Robert Johnson, President of the Institute for New Economic Thinking, former Managing Director for Soros Fund Management and former Chief Economist of the US Senate Banking Committee.

The epidemic extension of working hours and difficulty in maintaining work-life balance raises the question of the point of income and leisure satisfaction.

The financial system no longer funds new ideas and projects — only about 15 percent of the money coming out of financial institutions goes into business investment; the rest is spent buying and selling existing financial instruments.

Eight years after the crisis erupted, what the global economy is experiencing is starting to look less like a slow recovery than like a new low-growth equilibrium. With monetary policy unable to stimulate demand, or even inflation, it’s time for fiscal authorities to relieve the burden on central banks.

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

The main point of this paper is that loanable funds macroeconomic models with their “natural” interest rate don’t fit with modern institutions and data. Before getting into the numbers, it makes sense to describe the models and how to think about macroeconomics in the first place.

CEP Lecture by Adair Turner co-hosted with the IMF. 

Past failures, present uncertainty, and a challenging political environment have vastly complicated the central bank’s task, says Institute President Rob Johnson