In new research, Barry Eichengreen and Orkun Saka find that trust, shaped by cultural stereotypes, partially determines how multilateral banks decide which...
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean.
I had an utterly irrational sliver of...
Princeton Professor Markus Brunnermeier and Torsten Slok, Chief Economist for Deutsche Bank Securities, discuss what happened during Wall Street's worst week since the 2008...
The Italian government's effort to contain the coronavirus will have significant economic consequences. Italy should be allowed to ask for emergency help with one...
Three hundred years of financial regulation offer a cautionary tale to today’s push against yesterday’s regulations. This column revisits the political economy of financial...
A decade after the financial crisis, average faith in market institutions is recovering—especially among high-income individuals and Republicans—while trust in government is on a...
The potential impact of Europe's revised Payment Services Directive, known as PSD2, should not be underestimated, as banks adapt to a flatter and more competitive...
In a new book, The Chile Project: The Story of the Chicago Boys and the Downfall of Neoliberalism, Sebastian Edwards details the history of neoliberalism in Chile over the past seventy years. The Chicago Boys—a group of Chilean economists trained at the University of Chicago through the U.S. State Department’s “Chile Project”—played a central role in neoliberalism’s ascent during General Augusto Pinochet’s rule. What follows is an excerpt from the book on University of Chicago economist Milton Friedman’s 1975 visit to Chile to meet with Pinochet and business leaders.
Darren Bush, Mark Glick, and Gabriel A. Lozada argue that the Consumer Welfare Standard is inconsistent with modern welfare economics and that a modern approach to antitrust could integrate traditional Congressional goals as advocated by the Neo-Brandesians. Such an approach could be the basis for an alliance between the post-Chicago economists and the Neo-Brandesians.
In new research, Guglielmo Briscese and Michèle Belot find that reminding Americans of shared values can open lines of communication and help reduce political polarization.
Antonio Capobianco, the deputy head of the OECD Competition Division and one of the authors of the 2023 OECD report on algorithmic competition and collusion, explains the risks that algorithms and artificial intelligence pose to competition and how regulators can approach the changing competition paradigm.