In the wake of news about President Obama’s new Too Big to Fail Tax and Barry Ritholtz’s post on it, I had an in-depth conversation on the issue with a whole group of people, including Barry. Most of ...

It’s the time of year to look back over the last 12 months, but one strategist reached back to the 19th century to describe what’s going on. In 1898, Swedish economist Knut Wicksell said equilibrium ...

The Federal Reserve pulled off a "soft landing" in 1994, but if it isn't able to do it again in 2022, we may be in for a bumpy ride. Just like Goldilocks, the Fed tries to keep the U.S. economy "not ...

This paper surveys some recent developments in equilibrium analysis based on a differential viewpoint. They deal with the structure of the set of equilibria, with the study of regular and singular ...

In the context of markets, equilibrium is when there's a balance between supply and demand, causing prices to stabilize. When there's an imbalance between supply and demand, prices tend to fluctuate ...

Nelson and Winter realize that all models, including traditional ones, are abstractions, but... These abstractions give rise to predictions of behavior that do not arise, Traditional theory does not ...

In general rational expectations equilibrium (REE), as introduced in Radner (Econometrica 47:655-678, 1978) in an Arrow–Debreu–McKenzie setting with uncertainty, does not exist. Moreover, it fails to ...

A new study shows that current trends in environmental degradation will lead to large economic losses in the coming decades, hitting the poorest countries hardest. But there is hope: investing in ...

This publication was prepared by the Environment, Natural Resources and Blue Economy Global Practice of the World Bank by a team led by Giovanni Ruta. The other authors of the report are Justin Andrew ...

Nelson and Winter realize that all models, including traditional ones, are abstractions, but... These abstractions give rise to predictions of behavior that do not arise, Traditional theory does not ...