Thumbnail for Eurozone sovereign bond spreads - will the good news continue?

Eurozone sovereign bond spreads - will the good news continue?

09 May 2014

Prof. John Muellbauer of INET Oxford's Economic Modelling (EMoD) group recently completed a Wim Duisenberg Fellowship at the European Central Bank.  During his stay at the ECB Muellbauer conducted a study of Eurozone sovereign bond spreads.  In the study he modelled the fundamental factors driving sovereign bond spreads between a number of Eurozone countries versus Germany, and then analysed what the actual spreads have been versus the estimated fundamental spreads.  He found that during the height of the crisis ...

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Thumbnail for The mainstream economics curriculum needs an overhaul

The mainstream economics curriculum needs an overhaul

07 May 2014

Diane Coyle, Managing Director of Enlightenment Economics discusses Wendy Carlin's INET curriculum initiative and outlines themes for curriculum reform.  See her Vox EU posting:  http://www.voxeu.org/article/mainstream-economics-curriculum-needs-overhaul

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Thumbnail for EC launches consultation on global systems science research

EC launches consultation on global systems science research

07 May 2014

The European Commission (EC) has been an important funder of complexity economics, network science and other global systems science (GSS) research in economics and public policy.  The EC's Future and Emerging Technologies (FET) programme has launched an online consultation http://europa.eu/rapid/press-release_MEMO-14-328_en.htm to understand what the game-changing technologies of the next decades will be. The consultation targets scientists, researchers, innovators, entrepreneurs and members of civil society...

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Thumbnail for U.S. Senate discusses “middle-out” economics

U.S. Senate discusses “middle-out” economics

29 Apr 2014

INET Oxford’s Executive Director Eric Beinhocker was recently in Washington DC where he and Seattle based technology entrepreneur and venture capitalist Nick Hanauer spoke at a meeting of the Senate Democratic Steering Committee, chaired by Sen. Mark Begich and included Senate Majority Leader Harry Reid and a number of other senior senators. The subject of the meeting was the state of America’s middle class.  Beinhocker and Hanauer discussed the stagnation of middle class incomes, the loss in middle class sa...

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Thumbnail for How to prevent the next housing bubble

How to prevent the next housing bubble

29 Apr 2014

The causes of the 2008 financial crisis were complex and global. But the most proximate cause was an enormous bubble in residential real estate, most notably in the U.S. Bubbles in the UK, Ireland, and Spain have also played a major role in the Europe’s economic problems. A team led by J. Doyne Farmer (INET Oxford), Robert Axtell (George Mason and visiting scholar at INET Oxford), John Geanakoplos (Yale) and Peter Howitt (Brown) and funded by INET have created a unique agent-based model of housing bubbles using data on nea...

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Thumbnail for Nature in the Balance - New Book by Helm and Hepburn

Nature in the Balance - New Book by Helm and Hepburn

29 Apr 2014

Dieter Helm, Professor of Energy Policy and Fellow in Economics at New College and Cameron Hepburn, Director of the Economics of Sustainability Programme at INET Oxford and Professor of Environmental Economics at the Smith School recently co-edited Nature in the Balance: the Economics of Biodiversity (Oxford University Press). The book sets out the building blocks of an economic approach to biodiversity, and in particular brings together conceptual and empirical work on valuation, international agreements, the policy instruments...

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Thumbnail for The Chartbook of Economic Inequality

The Chartbook of Economic Inequality

18 Mar 2014

View Interactive Chart The long ignored issue of inequality is now center stage in the global debate about economic policy. The collapse of the global financial system in 2007 and 2008 and resulting economic downturn and debt crises have acted as a catalyst for growing anxiety around the increasing dispersion of incomes within most advanced economies. In short, we are not “all in it together.” The acute loss of job prospects, especially among the young, the credit crunch, and the austerity measures implemented ...

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Thumbnail for Soros and Academics Debate Reflexivity

Soros and Academics Debate Reflexivity

22 Jan 2014

The Journal of Economic Methodology, the leading peer-reviewed journal on the philosophical foundations and methodological practice of economics, has published a special issue devoted to the theory of reflexivity developed by George Soros. The issue includes a new article by Soros articulating his most recent thinking on reflexivity and fallibility, the role of those concepts in social science, and their contribution to events such as the 2008 financial crisis and the euro crisis.  The issue also contains contributions...

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