In the early 1960’s, many environmental protection NGOs started to promote conservation of ecosystems all over the globe. Greenpeace’s first stated mission is to “protect biodiversity in all its forms”. For WWF its principal objective is to “conserve nature and reduce the most pressing threats to the diversity of life on Earth.” Conservation and climate change have become an important part of the international discussion.
In Lewis Carroll’s sequel to Alice’s Adventures in Wonderland (1865), the day-dreamer Alice wonders what it is like to live on the other side of a mirror’s reflection. The novel, Through the Looking-Glass, and What Alice Found There (1871) recounts the protagonist’s surreal adventures, which follows a pattern parallel to that of the story’s prequel: the first book has the deck of cards as a theme, and uses changes of size as a plot device; while the second one is based on the rules of a game of chess and uses distortions in time and spatial directions as plot devices. This article is about a different type of Wonderland though: Trump’s United States, and its new foreign policy…
Credit growth seems to be the best predictor of future financial instability. This is the lesson that Jorda et. al (2011) draw from looking at aggregate data from 14 countries over the past 140 years. Mian & Sufi (2016) refine this result and find that growth in household credit leads to lower output growth subsequently.
La monnaie est définie dans le dictionnaire comme une « pièce de métal frappée par l’autorité souveraine pour servir à la mesure des valeurs, aux échanges, à l’épargne ». Lorsqu’on prête attention au mot « valeurs » contenu dans cette définition, on s’aperçoit que ce mot reflète deux aspects qui ne sont pas toujours forcément liés : la valeur économique des produits sur le marché et les valeurs qui font partie de nos convictions morales et guident nos décisions en tant qu’individus sociaux.
We have all seen it: Someone asks what you study and you see their eyes glaze over in boredom, as you try to convince them that economics is cool. For most non-economists, the subject is just a bunch of numbers, equations, and spreadsheets with some fuzzy link to business, profits, bankers, and other evil things. They never seem to understand that, at its heart, economics is about how society works — and ultimately how we human beings work.
Scholars and judges have long made arguments about laws and regulations and justified their arguments with theories about the effects of these legal rules. What empirical law and economics scholars like to do is to evaluate these claims with data. Now a particularly challenging dimension of studying the effects of rules and regulations is that many other aspects of society change at the same time, so what we need are natural experiments.
We economists at Toulouse School of Economics have an intense romance with industrial organization. Few visiting scholars fail to mention the strong work being done here in this field. The study of industrial organization is always grounded in a deep and subtle understanding of the industry at hand, as Justin Wolfers wrote for the New York Times in an article about the work of Professor Tirole . It is all the more surprising that there is no research nor teaching about one of the most interesting, dynamic, and complex sectors of the modern entertainment industry: The video game industry. In this article, I will write both about the research that has been done on this industry as well as the developments and phenomena that should put video games high up on the list of research priorities for every serious researcher in industrial organization.