Imperfect Knowledge

    Imperfect Knowledge Economics develops macroeconomic models that are open to unforeseeable structural change and avoid the presumption that market participants are irrational. This program is also developing econometric methodology that is suitable for testing time-series implications of IKE models.

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    Instability in Financial Markets: Sources and Remedies

    In the seemingly never-ending aftermath to the economic crisis that began in 2007, there is little disagreement that financial markets are characterized by instability rather than stability. Read more