Economic Perspectives
Total Page：16
File Type：pdf, Size：1020Kb
Load more
Recommended publications
-
MICHECON NEWS Winter 2007/2008 for University of Michigan Economics Department Alumni and Friends
MICHECON NEWS Winter 2007/2008 for University of Michigan Economics Department alumni and friends Celebrating With Pomp and Circumstance he 2007 Undergraduate Commencement Celebration in- sity of Michigan has meant to him and encouraged them to stay Tcluded all the pomp due the circumstance of the event. For involved with the Department, sharing both his own experience the first time in Department history, the celebration began with as an alumnus, as well recent contacts he had with international academic-gowned faculty, graduates, and guest speaker Ralph C. alumni in India, France, and Italy. Heid, ’70 econ, marching into Rackham Auditorium as a Univer- sity-student string quartet played Elgar’s celebrated piece. Heid told the graduates that, “I use what I learned at Michigan every day,” adding that whatever vocation they pursue, they will Following welcoming remarks by Department Chair Matthew find that, “Michigan has prepared you very well in the fundamen- Shapiro, and Director of Undergraduate Studies Jim Adams, tals. Heid, senior vice-president of international finance, Comerica Bank, and a member of the Department’s Economics Leadership “You will find that you carry with you a hard-earned degree from Council, gave the first commencement address ever presented at one of the most prestigious economic programs in the world. the Department’s undergraduate commencement celebration. In You will find that you will get job interviews where others might his speech, titled “Terms of Engagement” Heid spoke to gradu- not and that you may have an edge when applying to graduate ates about what his own degree in economics from the Univer- school.” continued on page 4 Michigan take at least one economics course during their studies. -
A Revisionist History of Regulatory Capture WILLIAM J
This chapter will appear in: Preventing Regulatory Capture: Special Interest . Influence and How to Limit it. Edited by Daniel Carpenter and David Moss. Copyright © 2013 The Tobin Project. Reproduced with the permission of Cambridge University Press. Please note that the final chapter from the Cambridge University Press volume may differ slightly from this text. A Revisionist History of Regulatory Capture WILLIAM J. NOVAK A Revisionist History of Regulatory Capture WILLIAM J. NOVAK PROFESSOR, UNIVERSITY OF MICHIGAN SCHOOL OF LAW The idea of regulatory capture has controlled discussions of economic regulation and regulatory reform for more than two generations. Originating soon after World War II, the so-called “capture thesis” was an early harbinger of the more general critique of the American regulatory state that dominated the closing decades of the 20th century. The political ramifications of that broad critique of government continue to be felt today both in the resilient influence of neoliberal policies like deregulation and privatization as well as in the rise of more virulent and populist forms of anti-statism. Indeed, the capture thesis has so pervaded recent assessments of regulation that it has assumed something of the status of a ground norm – a taken-for-granted term of art and an all-purpose social-scientific explanation – that itself frequently escapes critical scrutiny or serious scholarly interrogation. This essay attempts to challenge this state of affairs by taking a critical look at the emergence of regulatory capture theory from the perspective of history. After introducing a brief account of the diverse intellectual roots of the capture idea, this essay makes three interpretive moves. -
Zbwleibniz-Informationszentrum
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Cogliano, Jonathan Working Paper An account of "the core" in economic theory CHOPE Working Paper, No. 2019-17 Provided in Cooperation with: Center for the History of Political Economy at Duke University Suggested Citation: Cogliano, Jonathan (2019) : An account of "the core" in economic theory, CHOPE Working Paper, No. 2019-17, Duke University, Center for the History of Political Economy (CHOPE), Durham, NC This Version is available at: http://hdl.handle.net/10419/204518 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu An Account of “the Core” in Economic Theory by Jonathan F. Cogliano CHOPE Working Paper No. 2019-17 September 2019 Electronic copy available at: https://ssrn.com/abstract=3454838 An Account of ‘the Core’ in Economic Theory⇤ Jonathan F. -
Second Annual Women in Macro Conference May 31 – June 1, 2019 Gleacher Center 450 Cityfront Plaza Drive, Chicago, IL, 60611
Second Annual Women in Macro Conference May 31 – June 1, 2019 Gleacher Center 450 Cityfront Plaza Drive, Chicago, IL, 60611 Conference Organizers: Marina Azzimonti, Stony Brook University Alessandra Fogli, Federal Reserve Bank of Minneapolis Veronica Guerrieri, University of Chicago Friday, May 31st – Room 404 10:00 – 11:00 Laura Veldkamp, Professor of Finance, Columbia University “Might Uncertainty Promote International Trade?” joint with Isaac Baley and Michael Waugh Discussant: Claudia Steinwender, Assistant Professor of Applied Economics, Massachusetts Institute of Technology 11:00 – 12:00 Hélène Rey, Professor of Economics, London Business School; Member of the Commission Economique de la Nation (France) “Answering the Queen: Online Machine Learning and Financial Crises” joint with Misaki Matsumura Discussant: Şebnem Kalemli-Özcan, Professor of Economics and Finance, University of Maryland 12:00 – 1:30 Lunch – Room 450 1:30 – 3:15 Policy Panel on “The Global Economy: Challenges and Solutions” Participants: Janice Eberly, Professor of Finance, Northwestern University; former Chief Economist of the United States Department of Treasury Silvana Tenreyro, Professor of Economics, London School of Economics; Monetary Policy Committee Member, Central Bank of England Hélène Rey, Professor of Economics, London Business School; Member of the Commission Economique de la Nation, France Moderator: Şebnem Kalemli-Özcan, Professor of Economics and Finance, University of Maryland 3:15 – 3:30 Break 3:30 – 4:30 Monika Piazzesi, Professor of Economics, -
Frontiers in Applied General Equilibrium Modeling: in Honor of Herbert Scarf Edited by Timothy J
Cambridge University Press 978-0-521-82525-2 - Frontiers in Applied General Equilibrium Modeling: In Honor of Herbert Scarf Edited By Timothy J. Kehoe, T. N. Srinivasan and John Whalley Frontmatter More information FRONTIERS IN APPLIED GENERAL EQUILIBRIUM MODELING This volume brings together fifteen papers by many of the most prominent applied general equilibrium modelers to honor Herbert Scarf, the father of equilibrium computation in economics. It deals with new developments in applied general equilibrium, a field that has broadened greatly since the 1980s. The contributors discuss some traditional as well as some newer topics in the field, including nonconvexities in economy-wide models, tax policy, developmental modeling, and energy modeling. The book also covers a range of new approaches, conceptual issues, and computational algorithms, such as calibration, and new areas of application, such as the macroeconomics of real business cycles and finance. An introductory chapter written by the editors maps out issues and scenarios for the future evolution of applied general equilibrium. Timothy J. Kehoe is Distinguished McKnight University Professor at the University of Minnesota and an advisor to the Federal Reserve Bank of Minneapolis. He has previ- ously taught at Wesleyan University, the Massachusetts Institute of Technology, and the University of Cambridge. He has advised foreign firms and governments on the impact of their economic decisions. He is co-editor of Modeling North American Economic Integration, which examines the use of applied general equilibrium models to analyze the impact of the North American Free Trade Agreement. His current research focuses on the theory and application of general equilibrium models. -
Why Is There No Milton Friedman Today? · Econ Journal Watch
Discuss this article at Journaltalk: http://journaltalk.net/articles/5808 ECON JOURNAL WATCH 10(2) May 2013: 210-213 Why Is There No Milton Friedman Today? Richard A. Posner1 LINK TO ABSTRACT The short answer to the question posed by Econ Journal Watch is that Milton Friedman combined, with enormous success both within the economics pro- fession and in the society at large, three distinct roles. He was an analyst, using conventional analytical methods, of technical issues in macroeconomics, such as business cycle economics (with emphasis on the role of money), inflation and deflation, international exchange rates, and the consumption function. He was an advocate on economic grounds of specific public policies, such as an end to conscription, a negative income tax (of which the Earned Income Tax Credit is a variant, adding a work requirement surprisingly absent from Friedman’s proposal), and school vouchers. And he was a public intellectual/guru/philosopher, ad- vocating in books, magazines, op-ed pages, and electronic media a politically controversial return to libertarian (equivalently, free-market, laissez-faire, classical- liberal) economic policy. Friedman also made an influential contribution to economic methodology in arguing that an economic theory should be tested by its predictive accuracy alone, without regard to the realism or unrealism of its assumptions (Friedman 1953). The argument is questionable because, owing to the difficulty of assessing such consequences (reliable experiments concerning economic behavior are very difficult to conduct), economists have tended to rely heavily—certainly Friedman did—on assumptions, often assumptions based on priors rooted in ideology, personality, or other subjective factors. -
Download Full Issue
FIRST QUARTER 2018 FEDERALFEDERAL RESERVE RESERVE BANK BANK OF OF RICHMOND RICHMOND Are Markets Too Concentrated? Industries are increasingly concentrated in the hands of fewer firms. But is that a bad thing? Do Entrepreneurs Pay Private Currency Interview with Jesús to be Entrepreneurs? Before Cryptocurrency Fernández-Villaverde VOLUME 23 NUMBER 1 FIRST QUARTER 2018 Econ Focus is the economics magazine of the Federal Reserve Bank of Richmond. It covers economic issues affecting the Fifth Federal Reserve District and the nation and is published on a quarterly basis by the Bank’s Research Department. The Fifth District consists of the District of Columbia, Maryland, North Carolina, COVER STORY South Carolina, Virginia, 10 and most of West Virginia. Are Markets Too Concentrated? DIRECTOR OF RESEARCH Industries are increasingly concentrated in the hands Kartik Athreya of fewer firms. But is that a bad thing? EDITORIAL ADVISER Aaron Steelman EDITOR Renee Haltom FEATURES 14 SENIOR EDITOR David A. Price Paying for Success MANAGING EDITOR/DESIGN LEAD State and local governments are trying a new financing Kathy Constant model for social programs STAFF WRITERS Helen Fessenden Jessie Romero 17 Tim Sablik EDITORIAL ASSOCIATE Do Entrepreneurs Pay to Be Entrepreneurs? Lisa Kenney Some small-business owners are motivated more by CONTRIBUTORS Selena Carr values than financial gain Santiago Pinto Michael Stanley DESIGN Janin/Cliff Design, Inc. DEPARTMENTS 1 President’s Message/Taxes and the Fed Published quarterly by 2 Upfront/Regional News at a Glance -
Day 1: Responding to the Global Financial Crisis
Day 1: Responding to the Global Financial Crisis https://www.brookings.edu/events/day-1-responding-to-the-global-financ... PAST EVENT 2018 SEP Day 1: Responding to the Global 11 Financial Crisis What we did and why we did it 'f# Join the conversation on Twitter using #FlnCrlslsLessons ozens of consequential decisions were made by U.S. authorities during and D after the financial crisis of 2007-2009. It is important to understand how and why the elements of the rescue were designed the way they were. In an initiative led by Ben Bernanke, Tim Geithner and Hank Paulson, the Hutchins Center on Fiscal and Monetary Policy at Brookings and the Program on Financial Stability at the Yale School of Management are filling that gap by commissioning papers by individuals who were actively involved in designing the elements of the rescue. The primary objective is to answer the inevitable question that those who fight future financial crises will ask: Why and how did they do it the way they did in 2007-2009? On September 11, 10 years after some of the worst moments of the crisis, some of the authors of the papers presented highlights of their findings in a full-day conference at Brookings. Preliminary versions of some of the papers will be available below as working papers. You can learn more about the project by visiting the Program on Financial Stability at the Yale School of Management. 1 of 10 3/18/2021, 2:12 PM Day 1: Responding to the Global Financial Crisis https://www.brookings.edu/events/day-1-responding-to-the-global-financ.. -
Excerpted from James Gustav Speth, America, Rising to Its Dream (Forthcoming, Yale U.P., Fall 2012) * How Can We Gauge What
!"#$%&'$()*%+,)-.,$/)01/'.2)3&$'45))!"#$%&'()*%+%,-)./)01+)2$#'")34/$15&/"%,-()6'7#)89:9()4'77);<=;>)) 6) 7+8)#.9)8$):.1:$)84.')4./)4.&&$9$()'+)1/);9)'4$)&./')*$8)($#.($/).9() 84$%$)8$)/'.9()'+(.<=)>9$)8.<)'+).9/8$%)'4;/)?1$/';+9);/)'+)@++A).')4+8)8$) #+,&.%$)8;'4)+'4$%)#+19'%;$/);9)A$<).%$./B)3+)@$'C/)@++A).').):%+1&)+*).(2.9#$() ($,+#%.#;$/DD'4$)#+19'%;$/)+*)'4$)>%:.9;E.';+9)*+%)!#+9+,;#)F++&$%.';+9).9() G$2$@+&,$9'),;91/)'4$)*+%,$%)3+2;$')H@+#)#+19'%;$/5)I$";#+5)J1%A$<5)K+%$.5) L#[email protected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
Yale SOM Impact Philanthropy Report 2016-17.Pdf
Impact Support for the Yale School of Management 2016– 2017 Contents A Culture of Innovation 2 Yale SOM Boards and Councils 18 Paying Tribute 5 Giving to the Yale School of Management 26 Giving Back 12 Beinecke Society 45 Making an Impact 14 Ways to Volunteer 46 Financial Report 17 On the cOver: a detail from Adrian Schiess’s site-specific Painting (2013), framing student breakout rooms on the north side of Bekenstein Atrium. Photo by Tony Rinaldo. When I speak with new students, I frequently talk about how the “and” in the Yale School of Management’s mission to educate leaders for business and society is an essential and meaningful conjunction. It is a small word, and an easy one to overlook beside its polysyllabic neighbors, but it signals that the most vexing problems confronting us on the planet will require the best ideas across all sectors of the economy and all regions of the world. Our integrated curriculum combines multiple perspectives and academic disciplines to bring organizational challenges into clearer focus. Our community, similarly, brings together people from a remarkable diversity of backgrounds who pursue wide- ranging interests. The power of conjunction is evident every day in the classroom, when students contribute new insights and points of view gathered from experiences around the globe. And the spirit of combination extends to our faculty, whose team- teaching in our courses and scholarly collaboration with colleagues often spans disciplinary boundaries. The result is both a better framework for understanding the most significant and meaningful challenges in the real world and an environment that encourages new ideas. -
Newsletter Vol
RESEARCH EXCELLENCE • POLICY IMPACT Summer 2020 Newsletter Vol. 41, No. 1 COVID-19 Magnifies Race and Health Disparities IPR research unmasks disparities and offers ideas to address them 50-State COVID-19 Survey showing that African iStock American, Asian American, and Hispanic respondents’ worries about getting the virus were at least 12 points higher (>70%) than for White respondents (58%). (See pp. 7 and 24.) A Pioneering Approach to Understanding Health Disparities Since its founding in 1968, another significant period of social unrest, IPR’s researchers have tackled disparities in many insidious and persistent forms, whether racial, wealth, gender, education, social, health, or others. In 2007, a new generation of IPR researchers came together, with unique expertise in emerging academic areas like “psychobiology” or “biological anthropology.” Their idea was to Only 30% of Chicago’s residents are African “We are seeing dramatic inequities in the risk bring together the social, life, and biomedical American, yet as of late July they comprised of infection, and the risk of death, across the sciences to study how social, racial, and 43% of those who have died from COVID-19, U.S. and especially in Chicago,” said IPR economic disparities “get under a person’s according to Chicago’s Department of Public biological anthropologist Thomas McDade, skin.” To do this, they founded C2S, which Health. Both African American and Latinx who directs IPR’s Cells to Society (C2S): The McDade now directs, as a catalyst for probing residents are also getting sick from COVID-19 Center on Social Disparities and Health. how these social connections matter to human at higher rates than White residents. -
Liste Der Nobelpreisträger
Physiologie Wirtschafts- Jahr Physik Chemie oder Literatur Frieden wissenschaften Medizin Wilhelm Henry Dunant Jacobus H. Emil von Sully 1901 Conrad — van ’t Hoff Behring Prudhomme Röntgen Frédéric Passy Hendrik Antoon Theodor Élie Ducommun 1902 Emil Fischer Ronald Ross — Lorentz Mommsen Pieter Zeeman Albert Gobat Henri Becquerel Svante Niels Ryberg Bjørnstjerne 1903 William Randal Cremer — Pierre Curie Arrhenius Finsen Bjørnson Marie Curie Frédéric John William William Mistral 1904 Iwan Pawlow Institut de Droit international — Strutt Ramsay José Echegaray Adolf von Henryk 1905 Philipp Lenard Robert Koch Bertha von Suttner — Baeyer Sienkiewicz Camillo Golgi Joseph John Giosuè 1906 Henri Moissan Theodore Roosevelt — Thomson Santiago Carducci Ramón y Cajal Albert A. Alphonse Rudyard \Ernesto Teodoro Moneta 1907 Eduard Buchner — Michelson Laveran Kipling Louis Renault Ilja Gabriel Ernest Rudolf Klas Pontus Arnoldson 1908 Metschnikow — Lippmann Rutherford Eucken Paul Ehrlich Fredrik Bajer Theodor Auguste Beernaert Guglielmo Wilhelm Kocher Selma 1909 — Marconi Ostwald Ferdinand Lagerlöf Paul Henri d’Estournelles de Braun Constant Johannes Albrecht Ständiges Internationales 1910 Diderik van Otto Wallach Paul Heyse — Kossel Friedensbüro der Waals Allvar Maurice Tobias Asser 1911 Wilhelm Wien Marie Curie — Gullstrand Maeterlinck Alfred Fried Victor Grignard Gerhart 1912 Gustaf Dalén Alexis Carrel Elihu Root — Paul Sabatier Hauptmann Heike Charles Rabindranath 1913 Kamerlingh Alfred Werner Henri La Fontaine — Robert Richet Tagore Onnes Theodore