The 2008 Crisis demonstrated the need for more diverse approaches to math and economics. Using mathematical physics, and modern dynamical systems theory, we can reach beyond the traditional models ubiquitous in business schools and economics departments today.
Math & Statistics
Working Paper Series
Citation Patterns in Economics and Beyond
Assessing the Peculiarities of Economics from Two Scientometric Perspectives
World Economic RoundtableDiscussion
Explaining a Decade of Stagnation: Where Do We Go From Here?
Dec 14, 2017
The World Economic Roundtable seeks to help the business, investment, and policy communities understand ongoing changes in the world economy and to promote a discussion of ideas that can advance the goal of a widely shared global prosperity.
INET Research in a Year of Living Dangerously
Dec 29, 2016
Notes from the Institute’s Director of Research on some significant papers and contributions produced in 2016 under the INET rubric
Working Paper Series
Latent Instrumental Variables: A Critical Review
This paper considers the estimation problem in linear regression when endogeneity is present, that is, when explanatory variables are correlated with the random error, and also addresses the question of a priori testing for potential endogeneity.
Police Shootings, Economics, and Empirics
Jul 19, 2016
In the past month, analysts from all disciplines have tried to make sense out of shooting deaths of blacks by police and also ambush attacks of police.
On Arrest Filters and Empirical Inferences
Jul 14, 2016
I’ve been thinking a bit more about Roland Fryer’s working paper on police use of force, prompted by this thread by Europile and excellent posts by Michelle Phelps and Ezekeil Kweku.
2014, 2015, 2016
High-Dimensional Statistics for Macroeconomic Forecasting
This project brings new mathematical tools and ideas from high-dimensional statistics to bear on the problem of creating reliable macroeconomic forecasting models.
The Scientific Limits of Understanding Complex Social Phenomena
Dec 17, 2015
Since Aristotle the question about the potential relationship between economic inequality and democratic changes has been studied and debated – but scientifically our ability as researchers to assess and understand how such complex social phenomena may be related is much more limited than recognised.
Energy and the Economics of Renewables
Mar 1, 2015
Is moving away from coal and into shale - rather than directly into renewables - a worthy move from an economic as well as environmental point of view?
Much Ado About Cyber Security
Jan 5, 2015
Private data is leaked more and more in our society. Wikileaks, Facebook, and identity theft are just three examples. Network defenses are constantly under attack from cyber criminals, organized hacktivists, and even disgruntled ex-employees.
The Epistemological and Statistical Limits of the Economic Sciences in Identifying Causalities
This research project explores the underlying limits—especially of the social and economic sciences—in identifying causalities including, among other aspects, the strong epistemological and statistical limitations of and assumptions behind the methods applied.
2013, 2014, 2015
Modeling Minsky's Financial Instability Hypothesis - A Dynamical Systems Approach
This research project improves the mathematical capabilities of non-Neoclassical economics and uses modern techniques from nonlinear dynamical systems to model the expansion and contraction of credit and its effect on real economic output and asset prices.
2013, 2014, 2015
Statistical Physics Approach to Income and Wealth Distribution
This research project employs ideas from statistical physics to deal with income and wealth inequality, financial instability, and the distribution of energy consumption around the world.
Charles Babbage and the History of Innovative Thinking
Apr 7, 2014
The forthcoming Institute for New Economic Thinking conference will focus on innovation and its impact on economics and society. When we think about innovation we tend to imagine the future. But as with so many subjects in economics, it’s also useful to examine the past.
2012, 2013, 2014
Correlations in Complex Heterogeneous Networks
This research project uses statistical physics and network analysis to understand and explain the contagion and panic effects associated with crises that are unexplained in standard economic models.