Industrial policy, once relegated to resource allocation, technological improvements, and the modernization of industries, should be treated as a serious component of sustainability and developmental economics. A rich set of complimentary institutions, shared behavioral norms, and public...

Macroeconomics would not be what it is today without Edmund Phelps. This book assembles the field's leading figures to highlight the continuing influence of his ideas from the past four decades. Addressing the most important current debates in macroeconomic theory, it focuses on the rates at...

Principal-agent models take outside options, determining participation and incentive constraints, as given. We construct a general equilibrium model where workers' reservation wages and the maximum punishment acceptable before workers quit are instead determined endogenously. We simultaneously...

Wachsende Ungleichheit ist kein Schicksal, sondern Folge politischer Entscheidungen, diese Überzeugung vertritt Joseph Stiglitz vehement. Deswegen fordert er eine Politik, die den Wohlstand endlich wieder gerechter verteilt. In seinem neuen Buch zeigt er uns, jenen 99 Prozent der Bevölkerung,...

To accept carbon pricing, citizens desire viable alternatives to fossil-fuel based options. As inflation and higher interest rates have exacerbated access barriers for capital-intensive green substitutes, the political success of carbon pricing will be measured by how well policy design enables...

Die Ungleichheit in der Welt nimmt zu: Immer weniger Menschen häufen immer gröe︢ren Reichtum an, während die Zahl der Armen wächst und die Mittelschicht vom Abstieg bedroht ist. Doch diese Entwicklung, so zeigt Nobelpreisträger Joseph Stiglitz in seinem neuen Bestseller, ist keine...