Microeconomics

By suppressing important questions in favor of being cheerleaders for globalization, economists failed to influence the public conversation

What we’re reading: Some analysts expect dramatic changes and a short-term boost to the US economy, others predict continuity — and see Trump’s election reflecting a sea change in the global order

Economists offer widely different explanations for the decline in trade between nations, in a debate that remains unresolved but is increasingly urgent

Economists honored for their work on contract theory, which has important implications for issues such as executive compensation that have been a focus of Institute research

We are happy to announce that we are offering a second run of the online course which aims to introduce graduate students and interested persons generally to the basic methods and topics of standard microeconomics as taught at the Ph.D. level — with a bit of ‘attitude’!

How economists turned to the study of collective decision-making after World War II, faced many impossibilities, and lost interest after solving them

What Do Citations Actually Measure in Economics and How Should Economic Journals and Department Review Committees Use This Data? 

The 2008 financial crisis was a shock to faith in entirely free financial markets. But the neoliberal assumptions underlying the previously dominant “Washington Consensus” continue to inform much Western commentary on China’s economy.

The Implications of Xi’s Belt and Road Initiative for China and the World Economy

“Blindly” Engaging in Global Supply Chains Can Erode Developing Nations’ Economic Power

Globalization has fallen into disrepute; the myth of the prosperity and happiness-generating  free market has been dispelled. A visionary concept that provides guidance and direction is required now.

An autobiographical paper by William J. Baumol, in which he recounts his academic life and career.  The paper is a contribution to a series of recollections and reflections on the professional experiences of distinguished economists which the Banca Nazionale del Lavoro Quarterly Review (now PSL Quarterly Review) started in 1979.

A discussion featuring Kenneth Smith, Head of the Trade and NAFTA Office of the Ministry of the Economy of Mexico, and Jay Pelosky, Principal of Pelosky Global Strategies.

A trade war would undoubtedly hurt both sides. But there is reason to believe that the US has more to lose. If nothing else, the Chinese seem to know precisely which weapons they have available to them. China could stop purchasing US aircraft, impose an embargo.