Macroeconomics
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How Empirical Evidence Does or Does Not Influence Economic Thinking and Theory: Calibration, Statistical Inference, and Structural Change
Apr 9, 2010 | 04:05—06:10
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Conference paper
What Kind of Theory to Guide Reform and Restructuring of the Financial and Non-Financial Sectors?
Apr 2010
The purpose of the paper is to argue for attention to be paid, not only to choice of theory, but also to choice of theoretical approach, in order to address issues posed by the crisis.
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Conference paper
Life after “Rational Expectations”? Imperfect Knowledge, Behavioral Insights and the Social Context
Apr 2010
Many people regard the recent financial crisis as a painful addition to an already massive body of evidence that demonstrates the inadequacy of today’s economic models of “rational” markets.
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Conference paper
Efficient Markets: Fictions and Reality
Apr 2010
Eugene Fama, one of the founders of the so-called “Efficient Markets Hypothesis” (EMH), articulated early on the basic narrative that underpins it: “competition… among the many [rational] intelligent participants [would result in an] efficient market at any point in time [in which] the actual price of a security will be a good estimate of its intrinsic value” (Fama, 1965, p. 56).
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Conference paper
New Theories to Underpin Financial Reform
Apr 2010
As Carmen Reinhart and Kenneth Rogoff remind us in the title of their book, This Time is Different: Eight Centuries of Financial Folly, financial crises are nothing new (Reinhart and Rogoff (2009)). However, they often come as a surprise to many people because in most countries they appear only periodically.
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Conference paper
Anatomy of Crisis: Economic Theory, Politics and Policy
Apr 2010
The current economic and financial crisis, and it is both, has already imposed great costs on the global economy. Nor is there any guarantee that we have seen the worst and that recovery is now assured.
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Conference paper
Efficient Market Theory and the Recent Financial Crisis
Apr 2010
The world economy in 2008-2009 has passed through the most severe economic downturn since World War II. This global recession was preceded by the collapse of some of the largest financial institutions in the world.
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Has the Efficient Market Hypothesis Led to the Crisis? Collapsed with The Crisis?
Apr 8, 2010 | 05:15—07:25
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Networks and Systemic Risk
Apr 8, 2010 | 08:15—09:45
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Conference paper
George Soros: The Living History of the Last 30 years
Apr 2010
Economic theory has modeled itself on theoretical physics. It has sought to establish timelessly valid laws that govern economic behavior and can be used reversibly both to explain and to predict events.
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Anatomy of Crisis- The Living History of the Last 30 Years: Economic Theory, Politics and Policy
Apr 8, 2010 | 03:00—04:50
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What Kind of Theory to Guide Reform and Restructuring of the Financial and Non-Financial Sectors?
Apr 8, 2010 | 09:50—11:40
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Conference paper
Interpreting the Great Depression: Hayek versus Keynes
Apr 2010
This is not intended to be a purely historical paper. I am interested in the light the Keynesian and Hayekian interpretations of the Great Depression throw on the causes of the Great Recession of 2007-9 and in the policy relevance of the two positions to the management of today’s globalizing economy.
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1930 and the Challenge of the Depression for Economic Thinking
Apr 7, 2010 | 03:00—05:00
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The Economics of Money & Banking
Learn to read, understand, and evaluate professional discourse about the current operation of money markets at the level of the Financial Times.