Articles
Articles and analyses from the INET community on the key economic questions of our time.
The Wesley Clair Mitchell medal : the AEA award that never came to be
Throughout its first 10 years operation, the John Bates Clark medal was constantly challenged. Many young economists found it biased toward theory, and demanded the establishment of a distinct award for applied work.
The Teaching of Economics
$1.90 Per Day: What Does it Say?
The World Bank’s global poverty estimates suffer from deep-seated problems arising from a single source, the lack of a standard for identifying who is poor and who is not that is consistent and meaningful.
Is the Devil in the Details? Estimating Global Poverty
Economists’ assumptions, even about seemingly “small” matters, make an enormous difference to global poverty estimates but their impact often goes unnoticed, and the choices made have been badly justified. We must stop pretending that the World Bank’s “$1 per day” estimates are at all reliable.
Travelling Knowledge and Tools
Why Carried Interest is Suddenly the Inequality Flashpoint
A little-understood rule in the tax code is making headlines. What’s all the fuss?
Why You Shouldn’t Fear China’s Devaluation
If anything, it points to a better managed global financial system and a more resilient Chinese economy.
What Happened to China’s Stock Market and Why You Should Care
The sharp and sudden plunge scared everyone. Can the Chinese government get control of the market?
Debt-driven Growth: The decade prior to the Great Recession
The recent financial crisis has impressively illustrated the dangers of rapid credit growth in a painful way.
Sinn Advises Greece to Reinstate the Drachma
It is time for Greece to make a daring leap and adopt its own currency, says Ifo President Hans-Werner Sinn. “The drachma should be introduced immediately as a virtual currency,” Sinn said in Munich.
Grexit: The Staggering Cost Of Central Bank Dependence
The ECB has decided to maintain its current level of emergency liquidity to Greece (ECB 2015). By refusing to extend additional emergency liquidity, the ECB has decided that Greece must leave the Eurozone. This may be a legal necessity or a political judgement call, or both. Anyway, it raises a host of unpleasant questions about the treatment of a member country and about the independence of the central bank.
The rise of financialization has led to lower living standards and reduced growth in the U.S.
The last 30 years has seen a massive rise in the importance of financial instruments in the American economy. But what has been the impact of this shift in corporate investment strategy?