Showing 1 - 10 of 14,817
The economics profession appears to have been unaware of the long build-up to the current worldwide financial crisis … is due to a misallocation of research efforts in economics. We trace the deeper roots of this failure to the profession … economics profession has failed in communicating the limitations, weaknesses, and even dangers of its preferred models to the …
Persistent link: https://www.econbiz.de/10010274324
perfect competition, the global fields of the dysfunctional market system have mushroomed in what we call Warrant Economics … for the Free-Market Aristocracy. Warrant Economics unfolds in two symbiotic tenets that constitute the subtle architecture … two sides of the Warrant Economics coin. We argue that the Warrant Economics state of capitalism has been legitimised by a …
Persistent link: https://www.econbiz.de/10010282231
This paper presents a critical assessment of the widely discussed concept of Islamic Economics. The two different … interpretations of Islamic economics as the study of the functioning of an interest-free economy and the validity of moral values in … an Islamic economics. Far away from laying the foundation for such an economics the question is raised how an Islamic …
Persistent link: https://www.econbiz.de/10010295414
-'natural rate theory'- dominated interpretations of economic trends and policy prescriptions since the 1970s. Public policy …. Economic trends were filtered through the lens of the 'natural rate theory,' focusing on labor market institutions only and … confronts the economic trends with the interpretations of the 'natural rate theory' and argues that they hardly fitting the …
Persistent link: https://www.econbiz.de/10010291082
The dissertation includes four studies broadly connected to the causes and consequences of the Global Financial Crisis of 2007-8 from a political economy perspective. Following the intro-duction, Chapter 2 analyzes the political roots of massive foreign reserves accumulation, which has...
Persistent link: https://www.econbiz.de/10011698361
This article - designed to give readers unfamiliar with public choice a historical overview and flavor for the kinds of problems considered - is divided into three main sections, "historical origins," the "modern founders of MPE," and a brief description of some "current issues" studied by...
Persistent link: https://www.econbiz.de/10012662302
A macro-prudential policy maker can manage risks to financial stability only if currentand future risks can be reliably assessed. We propose a novel framework to assessfinancial system risk. Using a dynamic factor framework based on state-space methods, we model latent macro-financial and credit...
Persistent link: https://www.econbiz.de/10010325790
and sociological obstacles blocking change in underlying economic thinking. In particular, the economics profession and …, globalization, and the theory of the natural rate of unemployment. The only place where there is evidence of substantive …
Persistent link: https://www.econbiz.de/10010460471
Persistent link: https://www.econbiz.de/10010320448
We provide a novel methodology for estimating time-varying weights in linear prediction pools, which we call dynamic pools, and use it to investigate the relative forecasting performance of dynamic stochastic general equilibrium (DSGE) models, with and without financial frictions, for output...
Persistent link: https://www.econbiz.de/10011340986