Archive
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News
Leading European Economists Support Banking Union
Jul 9, 2012
In support of a European Banking Union, Done Properly: A Manifesto by Economists in Germany, Austria and Switzerland
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Article
Economists Coming of Age
Jul 7, 2012
Last weekend, I was in Tübingen - very close to my home town: the same smell, the same surreal Swabian idyll that makes you think of Hölderlin and Hesse rather than DSGE.
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Article
The less you know, the better?
Jul 7, 2012
A few days ago, I began researching on the history of a subfield of economics which was born in the sixties, then thrived and institutionalized itself in the early seventies.
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Article
The Visible Hand Writing History
Jul 7, 2012
[We are inaugurating something new in this blog: a jointly written post!]
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News
Is the Economy Sustainable?
Jul 4, 2012
How will climate change influence economic sustainability?
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Article
How to lie with statistics: An economist's guide
Jul 2, 2012
How representation of data can contribute to, or dispel the false certainty of statistical and econometric technique.
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Article
Economics and computation in the postwar period: managing scarcity
Jul 1, 2012
“We choose this stochastic structure for computational reasons. This reduces the dimension of the variables. With (such and such) alternative, the computational burden would have dramatically increased.”
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News
An Economic Manifesto
Jul 1, 2012
Are we doomed to repeat the past? Even when we know better? Or do we not know better even when we should?
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Working Paper
Grantee paperMethod to simultaneously determine stock, flow, and parameter values in large stock flow consistent models
Jun 2012
Stock flow consistent macroeconomic models suffer from the lack of a coherent estimation method due to the complicated nature of the modeling process.
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Working Paper
Grantee paperMacroeconomic Policy in DSGE and Agent-Based Models
Jun 2012
The Great Recession seems to be a natural experiment for macroeconomics showing the inadequacy of the predominant theoretical framework — the New Neoclassical Synthesis — grounded on the DSGE model.
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Working Paper
Grantee paperThe Financialization of the US Corporation: What Has Been Lost, and How It Can Be Regained
Jun 2012
Background paper for a presentation to the Seattle University School of Law Berle IV Symposiun, “The Future of Financial/Securities Markets,” London June 14-15, 2012.
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Working Paper
Grantee paperThe Making of America’s Imbalances
Jun 2012
This paper tracks the development of sectoral saving and borrowing in the US economy over the past 50 years.
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Working Paper
Grantee paperPrincipled Policymaking in an Uncertain World
Jun 2012
Revised text of a presentation at the Conference on Microfoundations for Modern Macroeconomics, Columbia University, November 2010. I would like to thank Amar Bhidé, Roman Frydman, and Andy Haldane for helpful comments, and the Institute for New Economic Thinking for research support.
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Working Paper
Grantee paperWhat’s Wrong with Economic Models?
Jun 2012
John Kay’s thought-provoking essay The Map is Not the Territory: An Essay on the State of Economics argues that economists have been led astray by excessive reliance on formal models derived from assumptions that bear too little similarity to the world we live in.
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Article
Hogarth and Soyer on the Hollow Men
Jun 30, 2012
A poem seems to be an almost perfect metaphor for the modern corporate world.