Archive
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Working Paper
Working Paper SeriesElasticity and Discipline in the Global Swap Network
Nov 2015
This paper sketches the outlines of the new international monetary system that has emerged in the aftermath of the global financial crisis.
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Video
Economic Growth, Climate Change and Environmental Limits
Nov 6, 2015
Will environmental limits, including limits on the climate system, slow or even halt economic growth? If not, how will the nature of economic growth have to shift?
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Webinars and Events
Understanding Inequality and What to Do About It
Discussion
Hosted by Human Capital and Economic Opportunity
Nov 5, 2015
A panel featuring Thomas Piketty, Kevin Murphy, and Steven Durlauf
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Working Paper
Working Paper SeriesDid Quantitative Easing Increase Income Inequality?
Oct 2015
The impact of the post-meltdown Federal Reserve policy of ultra-low interest rates and Quantitative Easing (QE) on income and wealth inequality has become an important policy and political issue.
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Video
Governance in Africa
Oct 29, 2015
A combination of leeway within the government and constitutional immunity during incumbency enables office holders to abuse their budget at will, which in turn creates a crisis of growth in Africa, relative to other parts of the world.
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Working Paper
Working Paper SeriesInnovative Enterprise or Sweatshop Economics? In Search of Foundations of Economic Analysis
Oct 2015
By integrating the history of industrial development in Britain and the United States with the ideas of leading economic thinkers, this essay demonstrates the absurdity of perfect competition as the ideal of economic efficiency.
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Working Paper
Working Paper SeriesWhen Credit Bites Back: Leverage, Business Cycles and Crises
Oct 2015
This paper studies the role of credit in the business cycle, with a focus on private credit overhang.
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Working Paper
Working Paper SeriesThe Cyclically Adjusted Budget: History and Exegesis of a Fateful Estimate
Oct 2015
This paper traces the evolution of the concept of the cyclically adjusted budget from the 1930s to the present.
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Article
Want to Grow the Economy? Might Be Time to Unleash the Devil.
Oct 27, 2015
Is an ancient financial taboo keeping us from prosperity? Adair Turner, author of a new book on global finance, explains.
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Article
Theory vs data, computerization, old wine and new bottles
Oct 24, 2015
In 1953, Oskar Morgenstern proposed to reform the eligibility criterion for fellows of the Econometric Society, in an attempt to foster empirical work.
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Article
What the Steve Jobs Movie Won’t Tell You About Apple’s Success
Oct 23, 2015
Public funding behind the technology is the secret ingredient.
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Article
Institute Grantee Appointed Central Bank Governor
Oct 20, 2015
The Institute extends its congratulations to Philip Lane, who has been named to succeed Patrick Honohan as the Irish central bank chief, and inherit his role on the council of the ECB.
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Article
Matching the Moment, But Missing the Point?
Oct 19, 2015
This essay critically evaluates the benefits and costs of the dominant methodology in macroeconomics, the DSGE approach. Although the approach has led to great progress in some areas, it has also created biases and blind spots in the profession that hold back our understanding and our ability to govern the macroeconomy. There is great scope for progress in macroeconomics by judiciously pushing the boundaries of some of the methodological restrictions imposed by the DSGE approach.
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Article
The Institute and Income Distribution at GES 2015
Oct 15, 2015
The Institute recently sponsored several panels at the Kiel Global Economic Symposium. In particular, the panel on Income Distribution and Mobility struck us as likely to be of especially wide interest. We are grateful for the participation of all the scholars on them and are pleased to present summaries of their presentations here.
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Webinars and Events
Between Debt & the Devil
DiscussionWith Adair Turner and Martin Wolf
Oct 15, 2015
Adair Turner talks about his new book, Between Debt & the Devil: Money, Credit, and Fixing Global Finance with Martin Wolf of the Financial Times in a free, public discussion.