Blogs&Reviews

  • In the 4th post in his series on AI, Richard Baldwin turns his attention to network effects and Metcalfe's Law, which helps account for the wild stock market values of companies that had never been heard of a couple of years ago.

  • Experts and elites

    Simon Wren-Lewis, 14 December 2018

    In this post, Simon Wren-Lewis asks what has led to the apparent distrust in the UK in the words of experts.

  • The third post in Richard Baldwin's series on artificial intelligence looks at Gilder’s Law, which predicts that the growth in our ability to transmit information over the internet will drive virtual globalisation.

  • Perceived and actual risk

    Jon Danielsson, 12 December 2018

    In this post, Jon Danielsson argues that as actual and perceived risk are usually negatively correlated and since almost every risk forecast model is of the perceived type, the models underestimate risk before a crisis and overestimate it after a crisis.

Other Recent Blogs&Reviews:

  • Jeffrey Frankel, 04 September 2018

    If the current American expansion continues for another year, it will equal the record 10-year expansion in the 1990s. In this post, Jeffrey Frankel points out that sooner or later there will be a new recession, and when it does come it could be more severe than the typical downturn.

  • Simon Wren-Lewis, 03 September 2018

    Greece's three-year euro area emergency loan programme has come to an end. In this post, Simon Wren-Lewis describes how euro area governments and the Troika turned a painful adjustment into a major calamity.

  • Jeffrey Frankel, 27 August 2018

    The current US combination of loose fiscal policy and normalisation of monetary policy suggests that real interest rates and the value of the dollar may go up. In this post, Jeffrey Frankel describes how the 'overshooting' theory predicts that, as a result, real commodity prices are headed down.

  • Rachel Lurie, Ashoka Mody, 22 August 2018

    The clamour has recently increased for another referendum in the hope of reversing the Brexit decision. In this post, Rachel Lurie and Ashoka Mody argue that the long-standing frustrations that led many to vote Leave would remain prominent in a new Brexit vote, so those who hope for a Brexit reversal may be disappointed. 

  • Diane Coyle, 21 August 2018

    Time to produce and time to consume are not taken seriously in economic theory. In this post, Diane Coyle reviews Ian Steedmans' book " Consumption Takes Time: Implications for Economic Theory", which works through basic microeconomic theory when a time identity and the fact that consumption takes time are included.

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