August 2011

David Weinstein - When Banks Fail, the Case of Japan

About the Interview

What happens to Main Street when Wall Street fails? Japan expert David Weinstein squeezes a unique data set to answer this question. While in the US you will find data on banks and data on firms separately, in Japan there's data that links banks and firms -- a great opportunity to analyze the damage done by collapsing financial institutions. David Weinstein investigates the Japanese financial crisis during the 1990s to shed light on the US financial crisis today. This is research about Wall Street shaking Main Street -- this is new economic thinking. Read more

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David Weinstein - When Banks Fail, the Case of Japan

30 Ways to Be an Economist is INET's grantee interview series - INET grantees talk about how they do their work, and how they came to be doing it. This week: David Weinstein - When Banks Fail, the Case of Japan. Read more

Wade Hands - Paul Samuelson and the Neoclassical Synthesis

30 Ways to Be an Economist is INET's grantee interview series - INET grantees talk about how they do their work, and how they came to be doing it. This week: Wade Hands -- Paul Samuelson and the Neoclassical Synthesis. Read more

Wade Hands - Paul Samuelson and the Neoclassical Synthesis

About the Interview

Paul Samuelson was both a mathematical micro-economist, working from theorem to proof in the neoclassical tradition, and a committed Keynesian macroeconomist, convinced of the necessity of policy intervention to improve the performance of market economies. How did he square these two sides of himself? Wade Hands goes into the archives to find out, as a step toward understanding how the neoclassical synthesis was first made. Understanding the past in order to understand the present -- this is new economic thinking. Read more

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Scott Condie - Modeling Asset Markets when Knowledge is Ambiguous

About the Interview

When you flip a coin, you expect heads and tails to show up with a 50% chance each. But what if all you knew was that heads and tails each have a chance of at least 25%? That's how Scott Condie captures Knightian uncertainty in asset markets. He models investors who act on basis of ambiguous knowledge, with the result that asset prices fail to reflect all private information. This is financial market modeling beyond the efficient market hypothesis - this is new economic thinking. Read more

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Scott Condie - Modeling Asset Markets when Knowledge is Ambiguous

30 Ways to Be an Economist is INET's grantee interview series - INET grantees talk about how they do their work, and how they came to be doing it. This week: Scott Condie - Modeling Asset Markets when Knowledge is Ambiguous

When you flip a coin, you expect heads and tails to show up with a 50% chance each. But what if all you knew was that heads and tails each have a chance of at least 25%? That's how Scott Condie captures Knightian uncertainty in asset markets. He models investors who act on basis of ambiguous knowledge, with the result that asset prices fail to reflect all private information. This is financial market modeling beyond the efficient market hypothesis - this is new economic thinking.  Read more

Margaret Levenstein - Financing Innovation or Speculation, the Case of Cleveland

30 Ways to Be an Economist is INET's grantee interview series - INET grantees talk about how they do their work, and how they came to be doing it. This week: Margaret Levenstein - Financing Innovation or Speculation, the Case of Cleveland. Read more

Sheila Dow - Why Economists Think How They Think

Economists argue over how the economy works or what is the best fiscal policy to recover from the current crisis. Sheila Dow looks behind the curtain of these debates; she seeks to find out why particular theories are being advanced, and how economists evaluate the merit of an argument in scientific debate. Click here to watch the video Read more

INET and CIGI are Now Accepting Research Proposals for the Fall 2011 Grant Program

The Institute for New Economic Thinking and The Centre for International Governance Innovation are calling for new research proposals in areas of vital importance to the field of economics for the Fall 2011 grants cycle. Read more