In the News

Global Commission Discusses Macroeconomics and Finance in New York

Research Program: News

The latest meeting of INET’s Commission on Global Economic Transformation addressed the flaws in existing macroeconomic and financial models—and explored solutions to foster shared prosperity

Global Commission Discusses Tech + the Future of Work in San Francisco

Research Program: News By Institute Staff

The latest meeting of INET’s Commission on Global Economic Transformation addressed the impact of technological change on jobs and society—and how best to harness the power of tech

Danny Quah on the Future of Global Trade

Research Program: News

What would global trade without the U.S. at the helm look like? INET Global Commissioner Danny Quah investigates.

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Commission Reports

Lost in Deflation

Paper By Servaas Storm

Why Italy’s woes are a warning to the whole Eurozone

Economic Consequences of the U.S. Convict Labor System

Paper By Michael Poyker

Prisoners employed in manufacturing constitute 4.2% of total U.S. manufacturing employment in 2005; they produce cheap goods, creating labor demand shock.

The Knightian Uncertainty Hypothesis: Unforeseeable Change and Muth’s Consistency Constraint in Modeling Aggregate Outcomes

Paper By Roman Frydman, Søren Johansen, Anders Rahbek, and Morten Tabor

This paper introduces the Knightian Uncertainty Hypothesis (KUH), a new approach to macroeconomics and finance theory.

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Following the dramatic political shocks to the industrialized world in 2016, worsening global poverty and inequality, and inadequate public and private sector responses to the challenges that continue to plague the world’s economy 10 years after the financial crisis, the Institute for New Economic Thinking (INET) has initiated a Commission on Global Economic Transformation (CGET), with support from the Centre for International Governance Innovation (CIGI). The effort is being led by Nobel Prize-winning economists Joseph Stiglitz and Michael Spence.

Read the full press release from the Commission's launch