Archive
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Video
Growth and Crisis: The Two Faces of Credit
Feb 20, 2012
At least since Joseph Schumpeter we know that credit is good for economic growth. At least since 2007 we know that too much credit foreshadows financial turmoil.
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Video
Inequality in Asia: The Local Effects of Global Capitalism
Feb 16, 2012
Inequality did not increase during the early stages of economic development in Japan and the East Asian Tigers. But in India and China it did. Why is that?
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Article
Professor Ponzi, or thinking about the methodology, the sociology and the economics of economics
Feb 8, 2012
I am writing from my notes. The event I want to report took place some two months ago, I have since been preoccupied, then occupied, and now increasingly overwhelmed.
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Video
Why New Technologies Do Not Make Poor Countries Rich
Feb 7, 2012
Over the past two hundred years, poor countries have become faster at adopting the technologies of rich countries. So why is it, the economist asks, that poor countries have remained poor, by and large?
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News
Suresh Naidu - Property Rights and Growth: Lessons from Slavery
Feb 1, 2012
A new angle on the link between property rights and economic growth
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Video
Property Rights and Growth: Lessons from Slavery
Jan 31, 2012
Strong enforcement of property rights is good for economic growth, says the conventional wisdom. The link may not be as clear cut, says Suresh Naidu
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Article
Bank or no bank?
Jan 30, 2012
A money view of SDRs
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Video
Credit Booms Gone Bust
Jan 24, 2012
Carmen Reinhart and Kenneth Rogoff tell the history of financial crisis as a tale of excessive public debt. But what more commonly drives financial instability, says Moritz Schularick, is excessive private debt.
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Article
Why did the ECB LTROs help?
Jan 22, 2012
From a money view perspective, the central issue is settlement of TARGET balances between national central banks within the Eurozone, and the key is to understand TARGET balances as a kind of interbank correspondent balance.
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News
Robert Johnson in Time Magazine about the Failures of the Economics Profession
Jan 18, 2012
What can be done to repair economics so economists can play a productive role in helping society?
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News
INET in Berlin: The Conference Program
Jan 17, 2012
We are pleased to announce the program of INET’s annual plenary conference in Berlin.
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Article
Delicate balance
Jan 17, 2012
The current account still matters, but other things do too, and maybe more. In light of recent focus on gross flows, here and elsewhere, I want to argue for the language of the balance of payments.
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Article
Marion Fourcade and historians of economics: a quiet revolution?
Jan 15, 2012
In recent years, an increasingly significant part of the history of economics has modeled itself after the methodologies developed by Science and Technology Studies (STS) scholars.
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Article
Does the Current Account Still Matter?
Jan 12, 2012
The title is the same as that of Maury Obstfeld’s Ely Lecture, delivered Jan 6 at the AEA meetings in Chicago. Yours truly was at the meetings mainly to deliver a paper on “Three Principles for Market-Based Credit Regulation”, about which more in a later post. And for most of the rest of the time I was locked in a hotel room interviewing candidates for an assistant professor slot at Barnard College (which gave me a good overview of the current state of macroeconomics, again fodder for a later post).
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News
INET in Berlin: The Annual Plenary Conference to Take Place on April 12-14, 2012
Jan 11, 2012
The Institute for New Economic Thinking will host its third annual plenary conference in Berlin fromApril 12 to 14, 2012.