History
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By the Way, Why Does the History of the JEL Codes Matter ?
Dec 21, 2014
Full paper is here. Comments are much welcome.And because it’s an epic story (and because I suck at writing abstracts), here is an audio trailer. I thank Paul for his beautiful Memphis accent.
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Identifying Weaknesses in the Eurozone
Dec 19, 2014
How should the Eurozone handle unemployment and other immediate hurdles?
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New Theoretical Perspectives on the Distribution of Income and Wealth Among Individuals
Dec 17, 2014
The recently observed surge in wealth doesn’t equate to growth of productive capital. Joseph E. Stiglitz, Branko Milanovic, Paul Krugman and Duncan Foley discuss these issues and more.
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Working Paper Series
Intra-Financial Lending, Credit, and Capital Formation
Dec 2014
This paper examines the effects of intra-financial lending – claims between financial institutions – on aggregate investment and credit to the non-financial sector in the United States.
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They called it a sunspot
Dec 7, 2014
One of the earliest attempts to tackle the problem of multiple equilibria in Macroeconomics was a byproduct of David Cass and Karl Shell’s engagement with Robert Lucas’s 1972 paper on ‘Expectations and the Neutrality of Money.’
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Lessons from the Great Depression
Dec 5, 2014
How can we better integrate history into economic analysis?
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Working Paper Series
Long-term trends in intra-financial sector lending in the U.S. 1950 - 2012
Nov 2014
This paper examines the evolution of intra-financial sector lending in the United States, 1950- 2012, presenting estimates constructed from the Federal Reserve’s Flow of Funds Accounts.
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Why Keynes is Important Today
Oct 28, 2014
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Adam Smith's first - and last! - book: what rational choice?
Oct 18, 2014
I was going to call this blog post ‘Utility maximising agents in Adam Smith’s Theory of Moral Sentiments’ but realised that was much too dull - even if it accurately describes my bedtime reading at the present moment.
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Two Hundred Years of Politics and High Finance
Oct 16, 2014
These videos cover not only Dr. de Cecco’s seminal research on the international gold standard, but his views on the international monetary system between the wars, the formation of the Bretton Woods system, and its breakdown – all topics on which Dr. de Cecco has written copiously.
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A History of the JEL Codes: Classifying Economics During the War [Part 1]
Oct 15, 2014
In the spring of 1940, as the war in Europe escalated and the likelihood of American involvement grew greater and greater, scientists understood that they would soon be drafted to help national defense planning.
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The IMF and Human Development: Little Progress and Worrisome Trends
Oct 13, 2014
The International Monetary Fund and the World Bank celebrate their 70th anniversary this year, yet few countries have been eager to join the festivities.
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The man who will not win the Nobel
Oct 9, 2014
Last Spring Larry Summers wounded Thomas Piketty in a friendly embrace.
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Development and Underdevelopment in Postwar Europe
Oct 1, 2014
The question of underdevelopment and development policies in postwar Europe will be the theme of a workshop organized by Michele Alacevich, Sandrine Kott, and Mark Mazower, at Columbia University, the Heyman Center for the Humanities, Friday, October 10, 2014. The program is available here. Below are some of Alacevich’s insights on the issue leading up the event:
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Working paper
Community Networks and the Process of Development
Sep 2014
Anyone who has spent time in a developing country knows the importance of social connections. Among their many roles, these connections help individuals land jobs, and provide them with credit and other forms of support.