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INET's Latest

Kalecki, Minsky, and “Old Keynesianism” Vs. “New Keynesianism” on the Effect of Monetary Policy

Article By Tracy Mott

In a post co-authored with Anna Stansbury, Larry Summers repudiates economic orthodoxy in regard to whether interest rate cuts suffice to restore full employment and looks at a more “original” Keynesianism to find adequate responses to secular stagnation. Tracy Mott walks us through answers many careful readers of Kalecki, Keynes, Steindl, and Minsky knew all along.

Is it Really "Full Employment"? Margins for Expansion in the US Economy in the Middle of 2019

Article By Claudia Fontanari, Antonella Palumbo, and Chiara Salvatori

Many indicators say the US is close to full employment: Hours of work tell a different story.

INET Economists Respond to Summers & Stansbury

Collection

Lance Taylor, Servaas Storm, Mario Seccareccia and Marc Lavoie comment on Lawrence Summers and Anna Stansbury’s article titled “Whither Central Banking?

Summers and the Road to Damascus

Article By Servaas Storm

Why Pushing on a String Has Never Worked

Central Banks, Secular Stagnation, and Loanable Funds

Article By Mario Seccareccia and Marc Lavoie

A Comment on Summers and Stansbury

Is History Important?

Video Featuring Robert Skidelsky

An animated look at economic history with Robert Skidelsky

How Liberals Normalized Conservative Ideas

Video Featuring Binyamin Appelbaum and Rob Johnson

The New York Times’ Binyamin Appelbaum explains the role Democratic presidents, from Kennedy to Obama, in moving economic policy to the right

How Can We Track Bank Risk?

Video Featuring Juliane Begenau

Risky lending took down the global economy in 2008. Tracking it now is a vital job for economists, says Juliane Begenau

Why We Need a Multidisciplinary Economics

Video Featuring Alan Kirman

Economics needs to better incorporate other social sciences

Change in the Economics Profession Can Come From the Outside

Video Featuring Carlo D'Ippoliti

Progressive movements can and should push for pluralism in economics

Why the Dismal Science Cares About Happiness

Video Featuring Daniel Benjamin

Economics is often thought of as emotion-less, but Daniel Benjamin argues for happiness as a vital indicator

Central Bankers, Inflation, and the Next Recession

Article By Lance Taylor

Summers and Stansbury Get It Half Right

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Working Paper Series

American Gothic: How Chicago Economics Distorts “Consumer Welfare” in Antitrust

Paper By Mark Glick

The Chicago School has long used bankrupt assumptions to strangle antitrust policy.

Firm-Level Political Risk: Measurement and Effects

Paper By Tarek Alexander Hassan, Stephan Hollander, Laurence van Lent, and Ahmed Tahoun

We adapt simple tools from computational linguistics to construct a new measure of political risk faced by individual US firms: the share of their quarterly earnings conference calls that they devote to political risks.

Expansionary Austerity and Reverse Causality: A Critique of the Conventional Approach

Paper By Christian Breuer

It was too good to be true: Another effort to vindicate austerity falls victim to flawed methodology.

State Capacity and Demand for Identity: Evidence from Political Instability in Mali

Paper By Maxim Ananyev and Michael Poyker

Frequent civil conflicts in African countries may erode national identity, thus highlighting a reason why civil conflict is costly for growth and development

Demand-determined potential output: a revision and update of Okun’s original method

Paper By Claudia Fontanari, Antonella Palumbo, and Chiara Salvatori

Everyone is waking up to the fact that estimates of what is possible in the economy are way off: this paper explains why

Antitrust and Economic History: The Historic Failure of the Chicago School of Antitrust

Paper By Mark Glick

This paper presents an historical analysis of the antitrust laws.

Lost in Deflation

Paper By Servaas Storm

Why Italy’s woes are a warning to the whole Eurozone

Economic Consequences of the U.S. Convict Labor System

Paper By Michael Poyker

Prisoners employed in manufacturing constitute 4.2% of total U.S. manufacturing employment in 2005; they produce cheap goods, creating labor demand shock.

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