Archive
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Article
General Equilibrium Theory: Sound and Fury, Signifying Nothing?
Aug 16, 2016
Does general equilibrium theory sufficiently enhance our understanding of the economic process to make the entire exercise worthwhile, if we consider that other forms of thinking may have been ‘crowded out’ as a result of its being the ‘dominant discourse’? What, in the end, have we really learned from it?
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Article
The (Impossible) Repo Trinity
Aug 12, 2016
The untold story of shadow banking
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Article
There Isn’t Really a ‘Mainstream’ at All
Aug 11, 2016
There is a mix of common-sense opinions, political prejudices, conventional business practice, and pragmatic rules of thumb, supported in an ad hoc, opportunistic way by bits and pieces of economic theory.
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Working Paper
Working Paper SeriesPolitical Lending
Aug 2016
Using a unique dataset provided by the Center for Responsive Politics (CRP), we document a direct channel through which financial institutions contribute to the net worth of members of the U.S. Congress, particularly those sitting on the finance committees in the Senate and the House of Representatives.
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Article
The strange fate of economists' interest in collective decision-making
Aug 9, 2016
How economists turned to the study of collective decision-making after World War II, faced many impossibilities, and lost interest after solving them
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Article
Stark New Evidence on How Money Shapes America’s Elections
Aug 8, 2016
Oversights of two generations of social scientists have weakened democracy.
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Article
Minsky's Many Moments
Aug 5, 2016
The Economist pays tribute to Hyman Minsky, whose ideas on financial instability have not been given the attention and prominence they deserve
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Working Paper
CommentaryWhy a future tax on bank credit intermediation does not offset the stimulative effect of money finance deficits
Aug 2016
This paper responds to a paper by Claudio Borio, Piti Disyatat and Anna Zabai “Helicopter Money: the Illusion of a Free Lunch”
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Collection
Economic Growth
The global economy appears to be stuck in a pattern of low growth, low inflation and unresolved debt burdens. Is this a result of policy mistakes, or have the fundamental dynamics of the economy shifted into an era of little or no growth known as secular stagnation?
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Video
How the FED's QE Contributed to Inequality
Aug 3, 2016
Epstein discusses financial reform, central banking, and how the FED actually contributed to economic inequality.
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Article
Financialization and its Discontents
Aug 2, 2016
Focusing on what money really is – whether gold or state fiat – shifts attention away from what credit really is, which is to say away from the center of discontent.
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Working Paper
Working Paper SeriesHow Money Drives US Congressional Elections
Aug 2016
Social scientists have stubbornly held that money and election outcomes are at most weakly linked. New research provides clear evidence to the contrary.
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Article
Why Does Economics Reject New Thinking?
Jul 29, 2016
On George Akerlof’s “The Market for Lemons”
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Article
A rejoinder to Michael Grubb, Annela Anger-Kraavi, Igor Bashmakov and Richard Wood
Jul 26, 2016
We are grateful to Michael Grubb, Annela Anger-Kraavi, Igor Bashmakov, and Richard Wood for their interesting, empirically rich and structurally insightful commentary on our paper on the production-based and the consumption-based Carbon Kuznets Curve (CKC).
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Article
Carbon Decoupling?
Jul 26, 2016
A comment on Goher-Ur-Rehman Mir and Servaas Storm’s Carbon Emissions and Economic Growth: Production Based vs Consumption-Based Evidence on Decoupling