Macroeconomics
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Bretton Woods: What Can We Learn From The Past In Designing The Future
Apr 8, 2011 | 03:00—04:30
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Getting Back on Track : Macroeconomic Management After A Financial Crisis
Apr 8, 2011 | 04:50—06:55
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Adair Turner: Keynote Address
Apr 8, 2011 | 03:30—05:30
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Conference paper
Cambridge Talk on Hayek
Apr 2011
Tonight I will talk briefly about the Keynes-Hayek relationship, then will focus on some of Hayek’s insights that may be of relevance today.
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Conference paper
Combining International Monetary Reform with Commodity Buffer Stocks : Keynes, Graham and Kaldor
Apr 2011
Central to John Maynard Keynes (1941) original Bretton Woods proposal was an international clearing union that would issue a new international currency by fiat called bancor. Among other functions, this international central bank would finance the stabilization of individual commodity prices through commodity buffer stocks.
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Conference paper
The Keynes Plan, The Marshall Plan And The IMCU Plan; Designing the Future International Payments System using the Past Principles of Keynes's Liquidity Theory and Soros's Reflexivity
Apr 2011
For more than three decades, orthodox economists, policy makers in government and central bankers and their economic advisors, using some variant of old classical economic theory [OCET], have insisted that (1) government regulations of markets and large government spending policies are the cause of all our economic problems and (2) ending big government and freeing markets, especially financial markets, from government regulatory controls is the solutionto our economic problems, domestically and internationally.
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Conference paper
It May be Our Currency, but It’s Your Problem
Apr 2011
It’s a singular honor to have been asked to deliver the Butlin Lecture. I first met Noel Butlin when I had the pleasure of visiting Australian National University for two months in what was, from my perspective, the summer of 1985.
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Toward an Alternative Macroeconomic Theory
ConferenceBudapest 2010
Sep 6–8, 2010
The Institute joined DIME and Central European University in hosting a conference addressing a key question of economics today: How can we create a new macroeconomic theory that takes into account the true relationship of finance to the real economy and can more accurately anticipate crises?
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Reforming Economic Theory
Apr 22, 2010
Joseph Stiglitz at the Institute’s debut conference in Cambridge, UK (2010).
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Economics, Conventional Wisdom and Public Policy
Apr 9, 2010 | 06:35—08:05
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Conference paper
How Empirical Evidence Does or Does Not Influence Economic Thinking and Theory
Apr 2010
This paper asks, how empirical evidence does or does not influence economic thinking and theory. In particular, which role do calibration, statistical inference, and structural change play?
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Conference paper
Economic Policy Challenges in the Post-Crisis Period
Apr 2010
The global financial crisis—and the Great Recession that followed—have inflicted tremendous economic and social damage across the world. Thankfully, we now appear to be on the path to recovery—though it remains sluggish and uneven, and in need of continued policy support in many advanced economies.
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How Empirical Evidence Does or Does Not Influence Economic Thinking and Theory: Calibration, Statistical Inference, and Structural Change
Apr 9, 2010 | 04:05—06:10
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Conference paper
On the Role of Theory and Evidence in Macroeconomics
Apr 2010
This paper, which is prepared for the Inagural Conference of the Institute for New Economic Thinking in King’s College, Cambridge, 8-11 April 2010, questions the preeminence of theory over empirics in economics and argues that empirical econometrics needs to be given a more important and independent role in economic analysis, not only to have some confidence in the soundness of our empirical inferences, but to uncover empirical regularities that can serve as a basis for new economic thinking.
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Conference paper
What Kind of Theory to Guide Reform and Restructuring of the Financial and Non-Financial Sectors?
Apr 2010
The purpose of the paper is to argue for attention to be paid, not only to choice of theory, but also to choice of theoretical approach, in order to address issues posed by the crisis.