Steering Technological Progress
We need a dual approach to AI: steer technology in the short term while building new systems for the long term.
Steering AI to Enhance Jobs and Prepare for Future Transformation
How to guide innovative AI efforts to increase labor demand and create better-paying jobs?
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The Economics of Being Seen
What does economic inequality look like when we account for gender identity, sexual orientation, and lived experience?
Wage Stagnation and Populism: A Comment on David Brooks and Noah Smith
Times have changed. Now we have David Brooks, of The New York Times, and economics blogger Noah Smith defending neoliberal globalization from the pincer movement of anti-trade populists from both the right and the left.
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Private safe asset supply and financial instability
This article studies the supply of private safe assets by banks and its implications for financial stability. Banks originate loans and improve loan quality through hidden screening efforts. They can then create safe assets by issuing debt backed by the safe payoffs, from both loans they have originated and a diversified pool of loans from other banks. The interaction between banks’ screening efforts and diversification decisions determines the volume of safe assets they supply.
Rethinking Pharmaceutical Innovation Policy
Misaligned incentives account for many of the most troubling features of the pharmaceutical industry’s present practices and performance.
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European Natural Gas through the 2020s: the Decade of Extremes, Contradictions and Continuing Uncertainties
This paper examines in detail the interrelationships between the EU’s concerns, its
energy policies, and the resulting challenges and uncertainties facing European gas
through the rest of the decade, and beyond.
Europe’s Gas Roller Coaster
A new INET Working Paper by Yaroslav Melekh, James Dixon, Katrina Salmon, and Michael Grubb, interrogates the contradictions between fossil lock-in through LNG import capacity and
overcontracting, and policy-driven demand reduction. Here is a summary of the paper's main findings.
They Looted Companies — Now They're Looting the Government
Economist William Lazonick reveals how the extraction model of American corporations has migrated from business to government.
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Currency Wars, Social Class, and the Republican Dilemma Over Medicaid
Faced with a shrinking list of options to trim the budget, Republicans are now eyeing Medicaid - but will that fly among Trump supporters?
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