New and noteworthy books in economics (July)
For this month we have selected: a wonderful memoir by Amartya Sen; a book on the social cost of academic insularity; and two historical accounts one of the 2008 financial crisis and another of the European integration.
Inequality: a different perspective
Two new papers on inequality addressing why capital flows from equal to unequal countries and whether wealth inequality is actually perceived as unfair.
Is a new taper tantrum in the works?
What will be the impact on emerging market economies from U.S. policies going forward?
The distributional effects of monetary policy
Interesting empirical evidence from Denmark. Who among the wealthy gains from expansionary monetary policy?
On credit rating agencies
Do political beliefs affect credit analysts’ ratings? Has credit rating inflation driven the recent growth in the U.S. BBB rated bond segment?
The ECB’s new inflation strategy
New research on euro area inflation expectations under the old inflation strategy. Will the new targeting fare better?
Predicting credit default
New research on a) which machine learning model is more efficient in predicting credit default; and b) how to extract information from consumers’ behavior.
On post Brexit Britain
The UK financial sector and the immigration system post Brexit: is there cause for optimism?
Rethinking mainstream macroeconomics
Two interesting critiques of the microfoundations approach to macroeconomics.
A new theory of financial fluctuations
Gabaix and Koijen on the “Inelastic Markets Hypothesis.”