Here’s a presentation I gave today at the annual Summer School in European Integration at UL.
Here are some links from the talk:
Data came from wolframalpha and FRED.
Figures from Europa and two reports from the ECB, here and here.
Here’s Minsky’s big book to read, info about him is here, and Geanakoplos’ article on leverage cycles is [...]
Here’s part 1 of a two part lecture on a new paper describing how we should think about modeling a world with different interest rates in a simple Keynesian schema.
A 3 slide handout is here, and the slides are below
Ec6012 Lecture10 The Equations of Finance
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Tagged EC6012Today’s Financial Economics lecture gets all macro on yo’azz, as I try to get my head around why the Stability and Growth pact (SGP) is important to Ireland’s policy makers today. Many authors (see here and here) are arguing either for a relaxation of the constraints the SGP or for a moratorium on fines imposed [...]
Michael, who will visit UL in a few weeks, has some harsh words for Peter Sutherland, mainly because Sutherland is focusing on the ‘fiscal pain’ argument many economic commentators are latching onto. This idea of redemptive punishment for past fiscal, financial, and consumptive sins is catching on everywhere at the moment. It might be instructive [...]
The very smart Mr Taft gives us the lowdown on FG’s latest set of proposals. EC6012 students, in particular, should take a look at this.
Fine Gael has put forward a very positive proposal regarding the banking crisis; and once teased out (and implemented) could see us jump free of this particular crisis and back on [...]
Tagged EC6012I’m just about to be in a position where I can announce something I’ve been working on for over 18 months in UL. Everyone who reads this blog knows I have an interest in health economics, but, as a teaser, here’s a paper from the Journal of Health Economics based on experimental health economics.
Abstract: In [...]
Olivier Blanchard of MIT is one of the top macroeconomists in the world. When he write articles like this, it’s worth your time reading what he thinks.
Or, you could read what I think he thinks. Which may save time.
My summary. Macroeconomics is the study of fluctuations. Since the 1970’s there have been three approaches to [...]
Reading this classic article by George Stigler, one could be forgiven for thinking he’s talking about Ireland’s doom and gloom merchants.
From pages 19 and 20 (I have the original 1980 working paper (U.Chicago 1980, WP No. 011) version rather than the book chapter):
The main lesson I draw from [economists'] experience as preachers is that we [...]
I’ll add to this post as I finish the books and write up reviews/comments/etc.
I am a strange loop. By Douglas Hofstatder
Computational Economics by Kendrick et al, review here
Information and Learning in Markets, by Xavier Vives, review here.
Wikinomics. Really sad I bought this one. Three word review: Awful. Management. Drivel.
“Reinventing the Sacred: A New View of [...]
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I’ve just finished Robert Shiller’s Subprime Solution: How Today’s Global Financial Crisis Happened, and What to Do about it.
The book is a short, sharp taste of Shiller’s trademark clarity as a writer, polemicist, and thinker, and he makes some interesting points.
First, he thinks the subprime meltdown had more to do with psychology [...]