Press Room
Research
Path Dependence and Stagnation in a Classical Growth Model
Working Paper, April 2020 |
Thomas Michl, Daniele Tavani
Research
A Three Class Predator-Prey Model with Financial Super Predators: The Financial Profit Squeeze
Working Paper, February 2020 |
Jonathan Goldstein
Research
Is Imperialism Passé in the 21st Century?
Working Paper, January 2020 |
Rohit Azad, Shouvik Chakraborty
Research
Research
Monetizing Public Debt in Japan: An Empirical Critique of Modern Money Theory
Working Paper, January 2020 |
Junji Tokunaga
Research
Shadow banking in China plays an important role in China’s overall financial system, but assessments of its impact vary widely. In this paper, Sarah Hsu describes how shadow banking is viewed by Chinese government officials and industry experts as overly risky and potentially undermining the formal financial system. But shadow banks are filling a gap in the provision of finance to particular sectors and smaller firms. Hsu analyzes the impact of government regulation on the shadow banking and non-shadow banking financial sector (i.e., the stock market) and proposes ways to strengthen the regulations of shadow banks to improve access to credit.
Research
The Modern Money Theory Free Lunch Mirage Can Produce Perverse Outcomes
Journal Article, December 2019 |
Gerald Epstein
Research
Modern Money Theory (MMT) in the Tropics: Functional Finance in Developing Countries
Working Paper, September 2019 |
Matias Vernengo, Esteban Perez-Caldentey
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