In early February, trade ministers from the dozen countries that make up the Trans-Pacific Partnership will gather in New Zealand to sign the massive trade pact, which covers approximately one-third ...

Decentralized finance (DeFi) has emerged as the flagship concept and use case for blockchain technology and cryptocurrency. DeFi is the use of smart contracts and other decentralized technologies to ...

This article appears in the April 2023 issue of The American Prospect magazine. Subscribe here. Economics is commonly described as the science of scarcity. We have limited resources, and we have to ...

Agent-based modelling (ABM) has emerged as a pivotal tool in macroeconomics and economic policy analysis. By simulating the interactions of numerous heterogeneous agents — such as households, firms, ...

INGOLSTADT, Germany—Christian Scharpf, the mayor of this city of 140,000, Germany’s second richest, is looking for ways to ...

Financial institutions are increasingly using economic capital models to help determine the amount of capital they need to absorb unexpected losses. These models typically aggregate capital based on ...

Behavioral economics combines elements of economics and psychology to understand how and why people behave the way they do in the real world. It differs from neoclassical economics, which assumes that ...