Research Papers
Innovation, Intellectual Property, and Development
A better set of approaches for the 21st century.
Gender and the Future of Macroeconomics
Decomposition by such an important category as gender helps us understand the economy at the macro level, and design macroeconomic policy, better. It also provides the foundation for advocating equal gender rights and outcomes. But, where gendered policy issues arise in mainstream macroeconomics (income maldistribution, labour market composition, etc.) the subject matter is narrowed by its microfoundations, by focusing on GDP growth and on suboptimal outcomes being explained by market imperfections.
The Vanishing Middle Class: The Growth of a Dual Economy
Growing income inequality is threatening the American middle class, and the middle class is vanishing before our eyes. We are still one country, but the stretch of incomes is fraying the unity of our nation.
The Precariat under Rentier Capitalism
The Precariat under Rentier Capitalism Guy Standing We are in the midst of a Global Transformation, analogous to Karl Polanyi’s Great Transformation described in his seminal 1944 book. Whereas Polanyi’s Transformation was about constructing national market systems, today’s is about the painful construction of a global market system. To use Polanyi’s term, the ‘dis-embedded’ phase has been dominated by an ideology of market liberalisation, commodification and privatisation, orchestrated by financial interests, as in his model. The similarities also extend to today’s fundamental challenge, how to construct a ‘re-embedded’ phase, with new systems of regulation, distribution and social protection.
Explaining Dualism in a Gender Perspective: Gender, Class and the Crisis
In the economic literature, several scholars have addressed the narrative of a two-stage European crisis. In a first stage, the so-called “he-cession”, men would have been hit the most by the economic recession induced by the financial crisis. Shortly thereafter, in the “she-austerity” stage, women would have suffered the heaviest burdens of the fiscal retrenchment measures. If that were the case, the policy response to the crisis would be producing an increase in the – already high pre-existing – gender inequality.
Diversity and the Evaluation of Economic Research: The Case of Italy
Especially in the wake of the Great Recession, calls for more diversity within economics are usually limited to appealing for greater diversity in the economists’ backgrounds, while diversity of opinion and approaches is often neglected.
Fathers of Neoliberalism
The Academic and Professional Performance of the Chicago School, 1960-1985
Citation Patterns in Economics and Beyond
Assessing the Peculiarities of Economics from Two Scientometric Perspectives
Secular Demand Stagnation in the 21st Century U.S. Economy
Preliminary draft prepared for INET conference session “A Decade of Stagnation. Why?”
Europe’s Zombie Megabanks and the Differential Regulatory Arrangements that Keep Them In Play
This paper analyzes the link between Kamakura Risk Information Services (KRIS) data on megabank default probabilities and credit spreads.
Diversity in Economics: A Gender Analysis of Italian Academic Production
Economists’ infamous failure at predicting the recent financial crisis has brought new impetus to studies on diversity in the economics profession. Such studies have underlined how diversity plays a prominent role in enriching economic analyses.
Innovative Enterprise Solves the Agency Problem
The Theory of the Firm, Financial Flows, and Economic Performance
Bubbles as violations of efficient time-scales
It is commonly overlooked that the concept of market efficiency embowers a time-dimension. Illustrating with an example from the class of persistent random walks, we show that a price process can be a martingale on one time-scale but inefficient on another.
Where Modern Macroeconomics Went Wrong
This paper provides a critique of the DSGE models that have come to dominate macroeconomics during the past quarter-century.