Finance

Social safety nets don’t always need to come with a dark side

Institute for New Economic Thinking launches a far-reaching research effort into causes and potential remedies for the low-to-no-growth malaise afflicting many of the world’s leading economies

A conversation with Robert Johnson, President of the Institute for New Economic Thinking, former Managing Director for Soros Fund Management and former Chief Economist of the US Senate Banking Committee.

The epidemic extension of working hours and difficulty in maintaining work-life balance raises the question of the point of income and leisure satisfaction.

The financial system no longer funds new ideas and projects — only about 15 percent of the money coming out of financial institutions goes into business investment; the rest is spent buying and selling existing financial instruments.

Eight years after the crisis erupted, what the global economy is experiencing is starting to look less like a slow recovery than like a new low-growth equilibrium. With monetary policy unable to stimulate demand, or even inflation, it’s time for fiscal authorities to relieve the burden on central banks.

Out of Ammunition? A discussion on central banking and secular stagnation with Larry Summers and Adair Turner

The main point of this paper is that loanable funds macroeconomic models with their “natural” interest rate don’t fit with modern institutions and data. Before getting into the numbers, it makes sense to describe the models and how to think about macroeconomics in the first place.

CEP Lecture by Adair Turner co-hosted with the IMF. 

Past failures, present uncertainty, and a challenging political environment have vastly complicated the central bank’s task, says Institute President Rob Johnson

In a Bloomberg Markets Most Influential Summit Debate, Institute board chairman Adair Turner explains why extraordinary monetary policy isn’t working

The National Institute of Public Finance and Policy (NIPFP) in collaboration with the Institute of New Economic Thinking (INET) are organizing India’s first “Law Economic Policy Conference (LPEC 2016)”. The aim is to bring together economic, legal and policy thinkers together to consider policy issues in a holistic manner.

While many countries throughout the world have faced severe financial crises over the last decades, and while the Japanese stagnation and the 1997 Asian financial crisis did induce some additional interest for the introduction of banking and finance in macroeconomic theory, it is only with the advent of the US subprime financial crisis that macroeconomic and monetary theories put forward by mainstream economists have started to be questioned.

The Eurozone is (quietly) disintegrating as ‘core’ and ‘periphery’ countries continue on paths of economic divergence. That disintegration is reinforced by self-defeating policies shaped by a macroeconomic model that mimics and reinforces the divisions between ‘winners’ and ‘losers’

An exclusive conversation with Richard Batley, Head of Macroeconomics at Lombard Street Research.