Inequality & Distribution
The Impact of Inequality on Macroeconomics Dynamics
Apr 13, 2012 | 06:55—08:45
Does greater inequality produce more fragile economic dynamics? Does concentration of wealth and income make societies more prone to crisis? If so, why?
Debt Overhang and Capital Regulation
We analyze shareholders’ incentives to change the leverage of a firm that has already borrowed substantially. As a result of debt overhang, shareholders have incentives to resist reductions in leverage that make the remaining debt safer.
The Austerity Trap: A Century of Unrest and Budget Cuts
Budget cuts can be dangerous. Inspired by the wrenching experience in Greece, increasing attention is now being paid to the fact that austerity may fail to reduce the government deficit if the economy declines in response, as is likely in a liquidity trap (Delong and Summers 2012).
The Challenge of De-Leveraging and Debt Overhangs II : The Politics and Economics of Restructuring
Apr 12, 2012 | 06:15—08:05
When the very fabric of society is threatened by prolonged austerity or a financial sector collapse, a deliberate re-structuring of debt may be necessary to restore the hopes of renewed prosperity.
The Challenge of De-leveraging and Overhangs of Debt I : Inflation and Austerity
Apr 12, 2012 | 03:45—05:55
After an era of vigorous expansion a downturn can reveal a large stock of debt relative to the economy’s capacity to service it.
New Economic Thinking 2012
Apr 12–15, 2012
The Institute joined the Centre for International Governance Innovation, and the Mercator Research Institute on Global Commons and Climate Change in hosting its third-annual plenary conference in Berlin from April 12-15, 2012.
Apr 11, 2012 | 07:00—07:25
Inequality in Asia: The Local Effects of Global Capitalism
Feb 16, 2012
Inequality did not increase during the early stages of economic development in Japan and the East Asian Tigers. But in India and China it did. Why is that?
The Evolution of the Wealth and Income Distributions Across Generations: a Data Collection Project
This research project enhances our understanding of how endowments and subsequent opportunities and shocks explain the evolution of individual and family well-being across generations.
Inequality and Economic and Political Change: A Comparative Perspective
This paper describes the broad evolution of inequality in the world economy over the past four decades, and provides a summary account of the relationship between inequality, economic development, political regimes and the functional distribution of income.
The Consequences of Inequality and Wealth Distribution
Apr 9, 2010 | 10:00—12:15
The Economic Crisis and the Crisis in EconomicsPlenary
New Economic Thinking 2010
Apr 8–11, 2010
The Institute for New Economic Thinking convened many of the world’s most distinguished economists, academics and thought leaders at its inaugural Conference at King’s College, University of Cambridge.