Working Papers

This paper examines the World Bank’s protracted and conflicted attempts at shareholding reform from 2008 to the present, situating them within the broader context of multipolarity and intensifying geopolitical rivalries.

This paper argues that (i) we have reached “peak GenAI” in terms of current Large Language Models (LLMs); scaling (building more data centers and using more chips) will not take us further to the goal of “Artificial General Intelligence” (AGI); returns are diminishing rapidly; (ii) the AI-LLM industry and the larger U.S. economy are experiencing a speculative bubble, which is about to burst.

How women economists expand orientations and perspectives that can transform economics into a pluralistic, critically engaged, and socially responsive discipline.

The Federal Reserve is experiencing something new in its history: sustained and sizable operating losses. These losses—currently running at more than $100 billion a year on an annualized basis—stem largely from the sharp rise in short-term interest rates, which has increased the interest the Fed pays on bank reserves while the income from its long-term securities portfolio remains comparatively low.

How inflationary inertia, driven by distributional conflict, disrupts the economy’s path to an effective demand equilibrium.

We typically view competition as a positive force that lowers prices, improves quality and service, and increases variety. However, competition can sometimes be toxic.

Kalecki challenged the structuralist view by pointing to the internal social class barriers to development, and the need to assure supplies of basic wage goods in order to avoid inflationary pressures that could derail the development process.

We need a dual approach to AI: steer technology in the short term while building new systems for the long term.

This paper examines in detail the interrelationships between the EU’s concerns, its energy policies, and the resulting challenges and uncertainties facing European gas through the rest of the decade, and beyond.

Welfare economists and moral philosophers have shown that the Consumer Welfare Standard is biased in favor of wealthy individuals and corporations—the very powers the antitrust law is supposed to regulate.

The history of the political relations between Hitler and the NSDAP leadership and the German “coal industrialists” from 1926 to 1933

Why the E-DSGE Framework Is Not Fit for Purpose and What to Do About It

The decisions we make now about the governance of AI will have profound implications for the future of our economy and society.

A major factor in the decline of inflation is the simple fact that America’s workers were, in general, unable to raise their nominal wages in line with the rise in the cost of living

Medicare negotiators need to have a deep understanding - both theoretical and empirical - of the learning processes involved in developing a drug to negotiate a price that is fair.