Archive for the 'Uncategorized' Category

AER Top 20

February 10, 2011

100 years American Economic Review, here are the top 20 papers!

(picture from AEA's homepage)


Krugman’s best paper…

October 13, 2010

…is on Interstellar Trade. This brilliant paper can be found here.


September 17, 2010

Interesting, but aren’t there more important things to analyze? Hypo-Vereinsbank economist Alexander Koch calculated a Chicken Price Index and a Beer Price Index for München’s Oktoberfest, the world’s largest fair. Click here for the full paper.

“A key expenditure item is for beer consumption. Even though the reported number of visitors last year dipped below the 6 million mark for the first time since 2004 – not least because of temporary fears of terror attacks – beer sales were up at the 14 large beer tents and numerous other catering businesses. “

What does this tell us about the law of demand?

Two fascinating videos

July 28, 2010

Away from rationality…

April 19, 2010

First read this piece on the conference of the Institute for New Economic Thinking (and watch the videos), then read Ken Binmore’s new book on Bayesian decision theory.

Teaching Economics in Texas

March 18, 2010

From this week’s New York Times:

In economics, the revisions add Milton Friedman and Friedrich von Hayek, two champions of free-market economic theory, among the usual list of economists to be studied, like Adam Smith, Karl Marx and John Maynard Keynes. They also replaced the word “capitalism” throughout their texts with the “free-enterprise system.”

“Let’s face it, capitalism does have a negative connotation,” said one conservative member, Terri Leo. “You know, ‘capitalist pig!’ ”

Is that how history is written?

Eastern Economic Association 2010

March 5, 2010

The Annual Meeting of the Eastern Economic Association was a great conference taking place last weekend in Philadelphia. I enjoyed it a lot.

Here are the slides from my presentation and my paper.

Nice visualization of unemployment in the US

February 17, 2010

Open Source Education

January 23, 2010

Education goes open source:

Unfortunately this is UK-based. I wonder if anything like that is available in Germany?

Links for Jan-8th 2010

January 8, 2010

Steve Keen über die Krise und die Neoklassik: “Die Wirtschaftspolitik wurde bestimmt von neoklassischen Ökonomen wie Robert Lucas oder Thomas Sargent, die im Rahmen der Thesen der rationalen Erwartungen argumentierten, Regierungen könnten die konjunkturelle Entwicklung nicht positiv beeinflussen. Sie rechneten zudem überhaupt nicht mit einer Krise im Privatsektor, wie wir sie jetzt haben. Edward Prescott, der den Wirtschafts-Nobelpreis im Jahr 2004 erhielt, erklärte sogar, das kapitalistische System sei in sich stabil und Störungen könnten nur vom öffentlichen Sektor ausgehen. Während dessen kam es zu einem Umdenken: Öffentliche Ausgabenprogramme in Höhe von vier bis sechs Prozent des Weltsozialproduktes verhinderten, dass wir tiefer in die Krise gerieten. Auch das zeigt, dass die neoklassische Theorie falsch ist.”

Quelle: FAZ Online