Religion and the Rise of Capitalism
How much of modern economics is shaped by religion?
How much of modern economics is shaped by religion?
In a significant new study published by the Institute for New Economic Thinking, Canadian economist Mohsen Javdani reveals that gender shapes views on power, equality, and inclusion in ways politics alone can’t explain.
Men and women might check the same box on election day, but they see the economy through different lenses. Just ask professional economists.
How women economists expand orientations and perspectives that can transform economics into a pluralistic, critically engaged, and socially responsive discipline.
How women economists expand orientations and perspectives that can transform economics into a pluralistic, critically engaged, and socially responsive discipline.
Contrary to what many economic models suggest, salaries aren’t constantly recalibrated based on skills or technology. They follow the economy and politics—and common sense: hire when needed, promote from within, and slow hiring when budgets tighten.
Two economists who have studied Intel warn that Trump’s move to take a stake in the company amounts to flashy optics, incoherent strategy, and a creeping politicization of economic policy.
Intel, once dominant in semiconductors, has flailed amid manufacturing problems, leadership changes, and fierce global competition. And unfortunately, it matters because in a world where chips are the new oil, controlling them means controlling power -- economic, military, and geopolitical.
We investigate the impact of climate risks on sovereign credit ratings worldwide. Our analysis shows that higher temperature anomalies and more frequent natural disasters – measures of physical risk – correlate with lower credit ratings. We find that long-term shifts in climate patterns (“chronic risk”) primarily affect advanced economies, while the increased frequency and severity of extreme weather events (“acute risk”) matters more for emerging economies. However, the estimated impact of both types of risk on credit ratings is low and the economic effects are negligible.
Our paper uses a general equilibrium framework to examine the effects of temperature on firm-level demand, productivity and input allocative efficiency. Using data from Italian firms and detailed climate data, it uncovers a sizeable negative effect of extreme temperatures on firm-level productivity. Based on these estimates, the model generates aggregate productivity losses from local temperature fluctuations that are higher than previously thought, ranging from 0.60% to 6.82% depending on the scenario and the extent of adaptation.
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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.