Research Papers
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Conference paper
David Sainsbury: Innovation Systems
Apr 2013
A striking feature of the neoclassical economic theory which has been dominant in Western universities in recent years is that it has had so little to say about innovation and innovation policy which is useful for policy-makers.
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Conference paper
Crisis and the Sacred
Apr 2013
It would be nonsensical to blame economists for not foreseeing the crisis; even less for causing it. It was obvious there would be a crisis. It was impossible to foresee how it would start and evolve, and at what moment these events would occur.
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Conference paper
Individual Judgments, Social Values, and Mimetic Interactions
Apr 2013
The problem of value has always occupied a central place in economic thought and debate.
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Grantee paper
If Technology Has Arrived Everywhere, Why Has Income Diverged?
Mar 2013
We study the lags with which new technologies are adopted across countries, and their long-run penetration rates once they are adopted.
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Grantee paper
The Inevitability of Shadowy Banking
Mar 2013
Shadowy banking is safety-net arbitrage. It employs substitutes for products and activities performed within the traditional banking sector.
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Grantee paper
Aggregate Demand, Instability, and Growth
Feb 2013
This paper considers a puzzle in growth theory from a Keynesian perspective.
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Journal article
Financialization and U.S. Income Inequality, 1970–2008
Feb 2013
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Grantee paper
Time Series Forecasting: Model Evaluation and Selection Using Nonparametric Risk Bounds
Nov 2012
We derive generalization error bounds — bounds on the expected inaccuracy of the predictions — for traditional time series forecasting models.
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Grantee paper
Conventions and the European Periphery
Nov 2012
The European periphery is qualitatively dierent from the core.
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Grantee paper
Modeling Moments of Crisis: The Case of Ireland
Nov 2012
Ireland has experienced a series of interlocking banking, fiscal, unemployment and political crises since 2007.
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Grantee paper
Poisoning the Well, or How Economic Theory Damages Moral Imagination
Oct 2012
Contemporary mainstream economics has widely “poisoned the well” from which people get their ideas about the relationship between economics and ethics.
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Grantee paper
Fat-Tail Distributions and Business-Cycle Models
Sep 2012
Recent empirical findings suggest that macroeconomic variables are seldom normally distributed.
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Grantee paper
The Pricing Effects of Ambiguous Private Information
Sep 2012
Ambiguous private information leads to informational inefficiency of asset prices in rational expectations equilibrium.
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Grantee paper
Chartbook of Economic Inequality: 25 Countries 1911-2010
Sep 2012
The purpose of this Chartbook is to present a summary of evidence about changes in economic inequality – primarily income, earnings, and wealth – for 25 countries covering a 100 year period from 1911 to 2010.
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Grantee paper
Are Women Really More Risk-Averse than Men?
Sep 2012
While a substantial literature in economics and finance has concluded that women are more risk averse than men, this conclusion merits reconsideration.