Archive

Everyone wants to ring-fence something, but they can’t agree on what:

Recent empirical findings suggest that macroeconomic variables are seldom normally distributed.

Ambiguous private information leads to informational inefficiency of asset prices in rational expectations equilibrium.

The purpose of this Chartbook is to present a summary of evidence about changes in economic inequality – primarily income, earnings, and wealth – for 25 countries covering a 100 year period from 1911 to 2010.

A Response to the INET Euro Council Report

Euro Crisis Report

In this initial blog post we wish to situate microeconomics as a field of social enquiry.

Can economics be morally centered? And perhaps more importantly, should it be?

The blog is intended for any student taking an advanced microeconomics course, any faculty member teaching such material, or indeed anyone interested in microeconomics and its role in the discipline.

Excerpts from a draft introduction of Till Düppe’s and Roy Weintraub’s new book, under revision for Princeton University Press, presently carrying the working title “Finding Equilibrium: Arrow, Debreu, McKenzie and the Transformation of Economic Theory

INET co-founder William H. Janeway has been granted the honorary award of Commander of the Order of the British Empire (CBE) for services in education and for his support of the University of Cambridge.

While a substantial literature in economics and finance has concluded that women are more risk averse than men, this conclusion merits reconsideration.

“The aim would not be to unravel a hidden coherent structure of the philosophical, theoretical, political dimensions of his work, but to give a sense of the contingencies that his work was subject to – both in terms of its origins and its receptions. Don’t make up an Arrow that he himself was not aware of.” -Till to me, email conversation on Kenneth Arrow, summer 2012

Last Thursday, the Fed announced its anticipated third round of balance-sheet expansion, at a fixed rate of about $40B per month “until [substantial] improvement [in unemployment] is achieved in a context of price stability”.

Excerpts from “Retrospect and Prospect,” the concluding remarks Bob Coats presented at (or maybe wrote after) the History of Economics conference held in 1972 at Bellagio to commemorate and reassess the 1870s “marginal revolution” (full proceedings here).