Archive
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Article
How Do Investors Approach the Stock Market in a Wild Election Cycle?
Jun 1, 2016
Neither the Rational Expectations Hypothesis nor behavioral finance approaches alone provides an adequate predictor of investor behavior, argues Roman Frydman
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Article
Profound Changes in Economics Have Made Left vs. Right Debates Irrelevant
May 31, 2016
New economic thinking has the potential to make political debates far more productive
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Article
Learning to think about shadow banking
May 30, 2016
Why most economists did not see the 2008 crash coming
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Article
A Teachable Moment for the Economics Profession?
May 27, 2016
What we’re reading: A weekly scan of published items relevant to the Institute’s work
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Webinars and Events
Shadow Banking and Alternative Finance in China
WorkshopMay 27, 2016
The recent growth in the scale and different forms of shadow banking and alternative finance mechanisms in China poses many questions of understanding, from its sustainability; different forms of credit growth; to the role of local government financing, and; the tensions between financial reform policy and practice.
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Article
Introducing the Symposium on Neoliberalism
May 26, 2016
Is Neoliberalism a fixed set of ideas, or even an identifiable political movement?
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Collection
Neoliberalism
A debate over definitions of Neoliberalism from different historical and philosophical approaches.
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Working Paper
Working Paper SeriesEthics vs. Ethos in US and UK Megabanking
May 2016
Company law in the US and UK fails to acknowledge that authorities’ propensity to rescue giant banks from the consequences of insolvency assigns taxpayers a coerced and badly structured equity stake in too-big-to-fail institutions.
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Article
This is Water (or is it Neoliberalism?)
May 25, 2016
A meditation on Vercelli, Vernengo and Levitt & Seccareccia
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Video
How Neoliberalism Threatens Democracy
May 25, 2016
Professor Wendy Brown engages in an in-depth exploration of the corrosive effect of approaching education, law, politics and governance through the lens of neoliberal economic rationality.
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Working Paper
CommentaryWho is afraid of Neoliberalism? A comment on Mirowski
May 2016
While the Neoliberal movement’s concerns extend into a broad political reorganization of society, it remains intimately connected with neoclassical economic thought.
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Article
Monetary Finance: Mechanics & Complications
May 23, 2016
Eight years after the 2008 crisis the global economy is still stuck with low growth, too low inflation, and rising debt burdens. Massive monetary stimulus has failed to generate adequate demand, and some commentators suggest that we are “out of ammunition” with which to counter deflationary pressures.
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Article
Tunisia in Turmoil: When Supply-Side Orthodoxy Meets an Angry Citizenry
May 23, 2016
Mass protests challenging the government to focus on job-creation rather than on market liberalization and trade deals may carry a cautionary message to Western policy makers, too.
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Article
How the term “mainstream economics” became mainstream: a speculation
May 23, 2016
From 1958 onward, the back cover of Paul Samuelson’s bestselling textbook, Economics, showed a family-tree of economists. The diagram’s evolution, in particular its use of the term “mainstream economics,” reflected, and, I speculate, influenced how economists came to perceive the structure of their discipline.
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Working Paper
CommentaryWho will willingly hold non-interest-bearing money?
May 2016
If the government/CB together finance an increased fiscal deficit with permanent non-interest-bearing fiat money, then some private sector agents have to hold non-interest-bearing monetary base, and must continue to do so even when policy and market interest rates have moved away from the ZLB. How is this possible in an environment where most bank deposit money is potentially interest-bearing?