Archive
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Article
Our Banking System is a Giant House of Cards
Apr 21, 2015
It Could Fall On You.
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Article
New Climate-Economic Thinking
Apr 21, 2015
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Video
Income Inequality in Europe
Apr 19, 2015
A member of the Austrian Central Bank tells us his research on wealth and income inequality in Europe.
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Working Paper
Working paperDiscrimination, Social Identity, and Coordination: An Experiment
Apr 2015
This paper presents an experiment investigating the effect of social identity on hiring decisions. The question is whether people discriminate between own and other group candidate
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Working Paper
Working Paper SeriesAn Economical Business-Cycle Model
Apr 2015
In recent decades, advanced economies have experienced low and stable inflation and long periods of liquidity trap. We construct an alternative business-cycle model capturing these two features by adding two assumptions to a money-in-the-utility-function model: the labor market is subject to matching frictions, and real wealth enters the utility function. These assumptions modify the two core equations of the standard New Keynesian model
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Video
Greece and the Eurozone
Apr 14, 2015
Yanis Varoufakis and Joseph Stiglitz discuss Greece’s financial challenges and the associated Eurozone politics in this exclusive conversation.
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Article
How to Recognize New Economic Thinking
Apr 14, 2015
The Institute for New Economic Thinking responds to an evident need for innovative approaches to understanding economic and financial processes.
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Article
We Must Lean Over Backwards
Apr 14, 2015
Emulate Richard Feynman: Lean over backwards so you do not fool yourself, and teach your students the discipline correctly from the start, rather than teaching them things at the start you will have to unteach them later.
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Article
Party Competition to Cut the Government Deficit by More in the UK's General Election
Apr 14, 2015
At least the Labour Party has only promised to cut day-to-day spending, not public investment.
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Video
Upholding the Rule of Law
Apr 13, 2015
Here we are, some 7 years after the Great Financial Crisis, and not one senior banking executive has gone to jail.
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Article
New Economic Thinking vs. Hard Political Realities
Apr 13, 2015
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Article
False Economic Policy Clichés and General Elections
Apr 13, 2015
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Article
Is the Fed Making Inequality Worse? Yes, New Research Shows.
Apr 11, 2015
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Working Paper
Conference paperA New Rational Expectations Hypothesis: What Can Economists Really Know About the Future?
Apr 2015
John Muth proposed the Rational Expectations Hypothesis (REH) to represent how the market (an aggregate of its participants) understands and forecasts outcomes. REH imposes internal consistency between the market’s forecasts and “the relevant economic theory” (Muth 1961, p. 316).
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Working Paper
Conference paperChange of Course: a Journalist’s Perspective
Apr 2015
I first came across economics students’ campaigns to revolutionise their education in that bastion of radical thought: the newsroom of the Financial Times.