History

Inflation, the euro crisis – for years there has been one worry hype after another. Yet fear frequently turns out to be wrong. We need a committee of wise men in charge of dealing with the real risks.

This paper considers the estimation problem in linear regression when endogeneity is present, that is, when explanatory variables are correlated with the random error, and also addresses the question of a priori testing for potential endogeneity.

One thing is now certain about the upcoming presidential election in the United States: the next president will not be a committed free trader.

It was during a year in residency at Tokyo’s Hitotsuabashi University in 1995 that Jim Crotty first “met” John Maynard Keynes.

Europe’s leaders must recognize that the EU is on the verge of collapse. Instead of blaming one another, they should pull together and adopt exceptional measures.

The EU is preparing to take a tough line with Britain, in order to deter other member states from following it out of the Union. But it is the neoliberal agenda that has prevailed for last four decades, benefiting only the top 1%, that is fueled voter anger on both sides of the Atlantic.

If Italy or the European Union have to step in to save banks, there’s no reason for them to have to do it for free

What we’re reading: As the shock of the UK referendum vote to leave the European Union continues to roil, a number of analysts see it as revealing dynamics of which all Western policymakers ought to be aware

The economic historian would have seen the British vote to leave the European Union as part of a larger drama of centralization versus pluralism

No, it’s not bureaucracy that is to blame - It’s the EU that has a problem, because urged by Germany it has pushed a kind of naive globalization, the outgrowths of which contribute to the upswing of dim-witted populists. Not only in the EU. Time for a new paradigm.

An election has failed to resolve a political deadlock that coincides with long-term economic stagnation

The Advanced Graduate Workshop in Development, led by Nobel Laureate Joseph Stiglitz is interested in identifying the complex interactions that influence well-being, development and growth.

INET interviews Luigi Pasinetti

The Brexit referendum is nothing less than an earthquake. But when an earthquake happens, seismologists try to understand how and why the tectonic plates had been shifting, and the pressures that had been building to bring about the event. The causes underlying every earthquake are specific in how they come together, even if they are seen in different places.

Several days ago, we woke up to a new world. Britain had voted to leave the European Union. Some were pleased, many were deeply concerned. What is likely is that many will be affected. Some wonder if the EU will survive. It will take months if not years to fully understand the ramifications.