Finance

If anything, it points to a better managed global financial system and a more resilient Chinese economy.

Bursting Bubbles leave a mess – in the markets, throughout the real economy, in societies, in politics and with policymaking.

The financial crisis of 2008 was not a run of the mill recession.

This paper, an extension of the Presidential Address to the International Economic Association, evaluates alternative strands of macro-economics in terms of the three basic questions posed by deep downturns: What is the source of large perturbations? How can we explain the magnitude of volatility? How do we explain persistence?

The latest austerity deal is terrible for Greece and Europe.

And how do they relate to our democratic institutions and institutional social relations?

In the last couple of months, Greece has once again become the center of attention of politicians, academics, and the general public. The debate has, for a large part, focused on Greece’s fiscal deficit as if it were just a self-inflicted Greek problem. But is it?

This paper proposes a theoretically based and easy-to-implement way to measure the systemicrisk of financial institutions using publicly available accounting and stock market data.

Dubious transactions and flimsy accounting standards need scrutiny.

The unprecedented intervention by China’s authorities to backstop China’s stock market reveals widening policy tensions in China’s leaderships financial reform agenda.

The sharp and sudden plunge scared everyone. Can the Chinese government get control of the market?

The recent financial crisis has impressively illustrated the dangers of rapid credit growth in a painful way.

As I write this it would be appear that the Greek crisis is finally coming to an end. In this report I would like to discuss why the negotiations were so fraught and what an agreement actually means. In a nutshell, the EU sought to address matters with the same kinds of measures that had been tried in the past, while Greece argued that doing so would not make things any better—and would in fact make them far worse.

The Institute for New Economic Thinking has awarded $2 million in grants to fund 21 different projects as part of the latest round of its research grant program.

The financial crisis of 2008 was unforeseen to a significant extent. One reason is that the dominant academic theories influencing political decision makers ignore recent advances and instead rely largely on models and decision science dating back to the Second World War.