Finance

The Institute for New Economic Thinking joined the Centre for International Governance Innovation (CIGI) in holding its fifth Annual Conference from April 10 to April 12, 2014 in Toronto.

Adair Turner at the Institute’s #HumanAfterAll conference in Toronto, CA (2014).

The fall of 2008 was scary. For most people, the aftermath of Lehman Brothers’ bankruptcy resembled a major earthquake with strong aftershocks. Official narratives have promoted the image of the crisis as a rare, unpreventable and unforeseen natural disaster, the “100-year flood.” Policymakers emphasize the extraordinary measures they have taken to prevent the system from collapsing and to support recovery since.

In this paper we explore the effects of alternative combinations of fiscal and monetary policies under different income distribution regimes.

We study analytically and numerically Minsky instability as a combination of top-down, bottom-up and peer-to-peer positive feedback loops.

Since the outbreak of the Greek debt crisis at the end of 2009, the Eurozone finds itself in an unprecedented debt crisis.

Owing to its strong dependence on exports, Germany was among the economies hit hardest by the financial crisis.

Pisani-Ferry discusses the challenges facing the creation of a common monetary union in the form that was eventually agreed in the 1990s absent a political union.

What exactly is an exchange rate?

A growth model incorporating dynamics of capital per capita, atmospheric CO2 concentration, and labor and energy productivity is described.

Recent claims, particularly in Paul Krugman’s column and blog, on the superiority of the Hicks-Modigliani version of Keynesian economics calls for a re-thinking of the issues raised in the early controversies over what Joan Robinson called “bastard Keynesianism”.

Adair Lord Turner’s powerful comments about the global economy’s addiction to private debt are continuing to reverberate around the world.