Grants

This research project explores the causes and consequences of the rise of China’s shadow banks based on the Modern Money Theory and its extension on the analysis on modern financial systems.

This research project develops a theoretical framework to examine the relation between arbitrage capital and the price properties of different asset markets.

This research project combines interdisciplinary expertise with a wholly unique database on hedge funds compiled by the Foundation for Fund Governance to examine the organization and governance of the offshore hedge fund industry.

This research project employs a new theory and innovative empirical analysis as a new lens for understanding financial instability and financial crises, focusing on the Great Depression.

This research project investigates the rise of federal credit programs in the United States, leading to a better understanding of the development of federal credit programs.

This research project rescues the work of the London and Cambridge Economic Service, arguably the first body in Britain to collect and disseminate economic statistics.

This research project explores the origins of covered mortgage bonds and tests for the impact of financial development on economic growth by analyzing the Prussian Landschaften.

This research project re-examines the debates around the time of the Great Depression and compares them with those before and since the start of the Long Recession in 2007/8, focusing on Keynes, Hayek, and their followers.

This research project explores whether the financialization of the US economy has contributed to rising income inequality through complementary analyses at the individual, firm and industry levels.

This research project formulates a normative theory of learning both preferences and probabilities that explains a broad spectrum of economic behavior heretofore judged irrational.

This research project develops a new behavioral paradigm of heterogeneous expectations that can help explain the sources of financial and macroeconomic instability and find possible policy remedies.

This research project develops tools that allow social scientists to understand how and when social factors, such as peer influences, role models, or norms, affect individual choices.

This research project studies how the Basel Committee on Banking Supervision and the International Swaps and Derivatives Association operate and the factors that help shape the extent to which they are able to ensure financial stability from a public-interest standpoint.

This research project establishes the conditions under which international capital flows are a force for stability, thereby improving the capacity for macroeconomic policy to avoid large boom-bust cycles.

This research project develops a rigorous new theoretical way to study controls of international capital flows and determine their optimal magnitude using a promising new empirical methodology.