History
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Working Paper Series
Full Employment, Open Economy Macroeconomics, and Keynes’ General Theory: Does the Swan Diagram Suffice?
Feb 2016
This paper provides critical comments on the Peter Temin - David Vines promotion of the basic Swan Diagram as (1) a policy tool to encourage any individual debtor nation experiencing balance of payment deficits to reduce its exchange rate in order to expand exports and reduce imports and (2) the Swan Diagram as a simple model for understanding Keynes’s General Theory for an Open Economy.
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Globalized Finance and the Crisis of 2008
Feb 2, 2016
The world economy is just starting to recover from the most disastrous episode in the history of financial globalisation. Understanding what happened is essential.
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Innovation and the State
Jan 26, 2016
Economic growth and rising prosperity does not happen at the moment of invention. Only an innovation policy aiming to maximise activities throughout the innovation cycle will succeed in capturing economic growth that enhance the welfare of all citizens.
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Relearning History
Jan 19, 2016
Lessons Ignored From the 1930s
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The Institute at ASSA
DiscussionJan 2, 2016
Join us for a reception at the ASSA conference in San Francisco
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Years granted:
2014, 2015, 2016
The Center and the Periphery: The Globalization of Financial Turmoil
This research project creates a new database of international capital flows from the early 19th century, when London became the financial capital of the world, until 1931, when international capital markets collapsed.
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Years granted:
2015, 2016
Worlds of Political Economic Thought in Twentieth-Century China
This research project explores Chinese economic thought of the 1930s, 1940s, and 1950s, with direct relevance to the present day, and in particular focuses on one specific thinker, Wang Yanan, and the intellectual debates he animated and in which he participated as a major theorist.
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Years granted:
2014, 2015, 2016
Becoming “Applied,” Becoming Relevant? Three Case Studies on the Transformation of Economics since the Mid-Sixties
This research project investigates how economists sought to make their science more relevant to real-world issues and policy design from the mid-1960s on, by becoming “applied economists.”
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Years granted:
2014, 2015, 2016
From Innovation to Financial Market Failure: An Anatomy of 18th Century Mortgage-backed Securities
This research project studies the innovation of mortgage-backed securities in the 18th century in order to understand the effects of securitization on financial and real markets.
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Years granted:
2014, 2015, 2016
Economics, Psychology and the Joyless Economy: The Biography of Tibor Scitovsky
This research project develops an intellectual biography of the Hungarian economist Tibor Scitovsky (1910-2002), who is known primarily for his path breaking 1976 book, The Joyless Economy.
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Working Paper Series
Understanding the Great Recession
Dec 2015
Some Fundamental Keynesian and Post-Keynesian Insights, with an Analysis of Possible Mechanisms to Achieve a Sustained Recovery
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The Sneaky Way Austerity Got Sold to the Public Like Snake Oil
Dec 22, 2015
A budget approach cloaked in the aura of science and technical jargon became a tool of manipulation.
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The Scientific Limits of Understanding Complex Social Phenomena
Dec 17, 2015
Since Aristotle the question about the potential relationship between economic inequality and democratic changes has been studied and debated – but scientifically our ability as researchers to assess and understand how such complex social phenomena may be related is much more limited than recognised.
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Who Stole Ireland's Pot of Gold
Dec 15, 2015
Patrick Honohan, Governor of the Central Bank of Ireland, discusses the Irish banking crisis.
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Working Paper Series
A Theory of How and Why Central-Bank Culture Supports Predatory Risk-Taking at Megabanks
Dec 2015
This paper applies Schein’s model of organizational culture to financial firms and their prudential regulators.