Archive
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New and noteworthy books in economics (December)
In this month’s selection there are three books on the social and political problems of our day. The fourth book is on how art and economics grow more entangled.
Low growth and sustainability
Tim Jackson and Peter Victor develop a model of “weightless growth” which leads to improved social and environmental outcomes.
Is the repo market broken?
Since September the Fed has been pumping cash into the system in the form of short term loans out of fear that banks are unable to lend. What are critics saying?
The crisis at the WTO
The U.S. has been chipping away at the WTO for the last two years. How does today’s situation compare to the U.S.-Japan trade war of the 1970s?
The revolts of 2019
Branko Milanovic wonders why the world is in uproar and Nicola Gennaioli and Guido Tabellini offer a possible explanation.
Software and robots vs AI
Software, robots and AI are negatively affecting low, middle and high skill jobs. When all these changes happen at the same time which public policies are effective?
Monetary policy and bounded rationality
In an economy with myopic agents: Is fiscal policy more powerful than monetary policy? Are simple Taylor rules effective in setting monetary policy?
The billionaire problem
Mankiw of Harvard, Farmer of Warwick and Johnson of MIT debate over billionaires’ contributions to the economy.
New research on the business cycle
Speculation and aggregate demand in a low interest rate environment. Which propagation mechanism best describes business cycles?