History
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$1.90 Per Day: What Does it Say?
Oct 6, 2015
The World Bank’s global poverty estimates suffer from deep-seated problems arising from a single source, the lack of a standard for identifying who is poor and who is not that is consistent and meaningful.
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Is the Devil in the Details? Estimating Global Poverty
Oct 3, 2015
Economists’ assumptions, even about seemingly “small” matters, make an enormous difference to global poverty estimates but their impact often goes unnoticed, and the choices made have been badly justified. We must stop pretending that the World Bank’s “$1 per day” estimates are at all reliable.
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Working paper
Religious Riots and Electoral Politics in India
Sep 2015
The effect of ethnic violence on electoral results provides useful insights into voter behaviour and the incentives for political parties in democratic societies.
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Fiscal Austerity & Greece
Sep 24, 2015
Professor Richard Portes discusses the problems of Europe and then specifically drills down into Greece itself.
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Travelling Knowledge and Tools
Sep 15, 2015
News about a wonderful workshop, “Knowledge Transfer and Its Contexts”
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The Death of Neo-Liberalism
Aug 20, 2015
The financial crisis of 2008 was not a run of the mill recession.
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Is it Just a Greek Problem?
Aug 13, 2015
In the last couple of months, Greece has once again become the center of attention of politicians, academics, and the general public. The debate has, for a large part, focused on Greece’s fiscal deficit as if it were just a self-inflicted Greek problem. But is it?
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Economics in the Rear-View Mirror
Aug 6, 2015
Archival artifacts from the history of economics.
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Working Paper Series
Tracking Variation in Systemic Risk at US Banks During 1974-2013
Jul 2015
This paper proposes a theoretically based and easy-to-implement way to measure the systemicrisk of financial institutions using publicly available accounting and stock market data.
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EU refuses to acknowledge mistakes made in Greek bailout
Jul 21, 2015
As I write this it would be appear that the Greek crisis is finally coming to an end. In this report I would like to discuss why the negotiations were so fraught and what an agreement actually means. In a nutshell, the EU sought to address matters with the same kinds of measures that had been tried in the past, while Greece argued that doing so would not make things any better—and would in fact make them far worse.
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Tackling the Energy & Environmental Challenges of the 21st Century
Jul 19, 2015
How well do our assumptions about the global challenges of energy, environment and economic development fit the facts?
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Latest Institute Grants Announced
Jul 17, 2015
The Institute for New Economic Thinking has awarded $2 million in grants to fund 21 different projects as part of the latest round of its research grant program.
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How Dated Theories & Underlying Research Misguide Policy
Jul 15, 2015
The financial crisis of 2008 was unforeseen to a significant extent. One reason is that the dominant academic theories influencing political decision makers ignore recent advances and instead rely largely on models and decision science dating back to the Second World War.
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The Greek Revolt Against Bad Economics Threatens European Elites
Jul 9, 2015
A look behind the scenes of the Greek referendum and what could happen next.
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How German Economists Really Think
Jul 7, 2015
A survey on behalf of the Sueddeutsche Zeitung indicates that German economists are much more American in their thinking than is presumed – with a rising trend.