Oxford, UK. The concept of equilibrium is one of the most central ideas in economics. It is one of the core assumptions in the vast majority of economic models, including models used by policymakers ...

How many nights have you found yourself lying awake, with worries piling up like papers on a desk, wondering how much more you can handle? I know the feeling all too well. There was a time when I ...

Vol. 45, No. 1/2, Symposium in honor of Wayne J. Shafer (October 2010), pp. 349-378 (30 pages) Suppose that one has a data set consisting of prices and individual endowments for some economy. Brown ...

This review provides a common framework for researchers thinking about the next generation of micro-founded macro models of growth, inequality, and financial deepening, as well as direction for policy ...

Economics is split between analysis of how the overall economy works and how single markets function Physicists look at the big world of planets, stars, galaxies, and gravity. But they also study the ...

With its fixation on equilibrium thinking and an exclusive focus on market factors that can be precisely measured, the neoclassical orthodoxy in economics is fundamentally unequipped to deal with ...