In his works Adam Smith, one of the founding fathers of modern economics, theorised the pivotal role of self-interest in the economy. What modern economics did not say (until Marçal’s book “Who Cooked Adam Smith’s Dinner?”) is that, for his entire life, Smith’s mother cooked him dinner. Not out of self-interest, but out of love. …
Care Economics: Towards new directions of research Read More »
The Ph.D. Academy on ‘Innovation, Development & Policy’ is co-organized by The North America and Caribbean Chapter of the Globelics Academy (NACLICS, www.naclics.org), HEC Montréal, and the Sobey School of Business at Saint Mary’s University.The Academy addresses innovation, development, and policy from a multidisciplinary perspective and is relevant to the Global South and the Global …
The Ph.D. Academy on ‘Innovation, Development & Policy’ is co-organized by The North America and Caribbean Chapter of the Globelics Academy (NACLICS, www.naclics.org), HEC Montréal, and the Sobey School of Business at Saint Mary’s University. The Young Scholars Initiative is an important partner in this effort as well as one of the co-sponsors. The PhD …
This session covers Lecture 3: Money and the State: Domestic and Lecture 4: The Money View, Micro and Macro. Lecture 3 Notes Lecture 4 Notes Lecture 3 builds on last week's Allyn Young reading in discussing the history of the US monetary system from the Civil War through the national banking system's evolution into the …
“Rethinking Globalization” YSI will be attending the second Turin International Festival of Economics hosted from 1 June - 4 June 2023. We will dedicate the mornings to a variety of young scholar sessions and have ample time to enjoy the Festival, which this year runs under the theme: “Rethinking Globalization”. The festival sessions will take …
Discussion of IMF Trust Bridges paper: https://www.imf.org/en/Publications/fintech-notes/Issues/2023/03/03/Trust-Bridges-and-Money-Flows-A-Digital-Marketplace-to-Improve-Cross-Border-Payments-528038
This session covers Reading 2: The vision of Hyman P. Minsky by Perry Mehrling. Minsky Study Questions This is an intellectual biography of Hyman Minsky written by Mehrling in 1999. Minsky put the problem of liquidity front and center. Among other things, this reading emphasizes Minsky’s financial instability hypothesis and its connection to the settlement …
Please visit the Economic Fitness and Complexity Summer School website: https://efc-school.cref.it/ Economic Fitness and Complexity (EFC) methods and metrics describe economies as evolutionary processes of ecosystems of industries, technologies and infrastructures that are globally interconnected. This data-driven approach is multidisciplinary and addresses emerging phenomena in economics from various points of view: it offers new opportunities …
Beyond The Optimising Agent Summer School in Advanced Methods for Economics and Political Economy University of Greenwich, London, 5 – 9 June 2023 This summer school provides advanced training in methods for Economics and Political Economy with practical applications. It focusses on theoretical and empirical methods beyond constrained optimisation that capture features such as uncertainty, …
How can different types of food be linked to development policies? In this third webinar of the "Development Talks" Series, Prof Matias Vernengo (Bucknell University) discusses his co-authored book "Why Latin American Nations Fail: Development Strategies in the Twenty-First Century ". The book brings together leading Latin Americanists from several disciplines to address the topic …
Development Talks: Why Latin American Nations Fail with Matías Vernengo Read More »
This session covers Lecture 5: The Central Bank as a Clearinghouse and Lecture 6: Federal Funds, Final Settlement. Lecture 5 Notes Lecture 6 Notes Lecture 5 describes the interconnectedness of bank balance sheets that allow the payment system to operate smoothly. The hierarchical structure of the US payment system emerged in the form of correspondent …
This workshop offers young and early career scholars working on Adam Smith a unique opportunity to take part in the 2023 Tercentenary Events in Glasgow, and to get feedback on their work from world-leading Smith scholars. Introduction The YSI History of Economic Thought working group is organizing a one-day workshop on 7th June as part …
Join us to learn the basics of project organizing in YSI, and ask any questions you have on your mind.
ESPAÑOL DEBAJO YSI Pre-Conference @ 3rd Global Carework Summit It is not possible to think about the economy without analyzing and recognizing the essential role that care work plays in the reproduction of the economic system. The labor force, taken as a "given" resource endowment by traditional views of the economy, needs in fact to …
YSI Pre-Conference @ 3rd Global Carework Sumit in Costa Rica Read More »
This is the second of two sessions on the 1989 book A Market Theory of Money by John Hicks. https://www.amazon.com/Capital-Wars-Rise-Global-Liquidity/dp/3030392902/ From the Description: Sir John Hicks draws together the common threads of over 50 years' writing on monetary economics into a succint (sic) statement of the fundamentals of monetary theory. He also goes beyond this …
This session covers Reading 3: The Check System, a chapter from Chapters on the Theory and History of Banking by Charles Dunbar. Dunbar Study Questions The chapter is a description of the checking system in the US in the late 19th century. It reinforces what we covered in Lecture 5 by describing the "decentralized" check-based …
The Launch of the YSI Argentine Local Hub in Mar del Plata will provide a dedicated platform for young scholars in Argentina, tailored to the unique needs and challenges of the country. This project aims to create a platform where aspiring researchers, innovators, and thinkers can collaborate and develop impactful solutions to pressing issues specific …
Within the Economic Fitness and Complexity Spring School, organised by the Enrico Fermi Research Centre (CREF), UNU-MERIT and YSI, CREF will host the presentation of the "Handbook on Economic Complexity for Policy", co-edited by the Joint Research Center - European Commission and the International Finance Corporation - World Bank. The Handbook will be presented by …
Book launch and roundtable “Handbook of Economic Complexity and Policy” Read More »
About the conference The economic structures of many African countries remain largely commodity based, without successful industrialisation. African countries seek to increase their industrialisation in an ever-changing economic landscape. Rapid digitalisation and move towards more AI-enabled functions, means that the gap between African and the rest of the world is becoming ever wider. In addition, …
Third Young Scholars Conference on Structural Change and Industrial Policy Read More »
YSI – RSA Young Scholars’ Academy on Regional Studies 2023 RSA Annual Conference – Side-event June 12 – 13, 2023 Ljubljana, Slovenia After a well-succeeded partnership between the RSA and the YSI Urban and Regional Working Group during the 2019 RSA Annual Conference in Santiago de Compostela, we are glad to announce the YSI – …
YSI – RSA Young Scholars’ Academy on Regional Studies Read More »
This session covers Lecture 7: Repos, Postponing Settlement and Lecture 8: Eurodollars, Parallel Settlement. Lecture 7 Notes Lecture Notes Lecture 7 describes repurchase agreements (repo or RP), which are a type of instrument that allows for collateralized lending in the money market. Anyone—not just banks that have reserve accounts the Fed—can participate in the repo …
The Inequality, Keynesian, Political Economy of Europe, and States and Markets Working Groups are happy to announce a call for papers to the YSI Pre-conference@ STOREP 2023. We invite you to submit your abstract to the pre-conference event organized by the Young Scholars Initiative at the STOREP annual conference. The pre-conference will take place at …
YSI Pre-Conference @ STOREP 2023: “Rethinking Economic Policies” Read More »
For the first time, Paraguay will hold the LALICS Master Academy in June 2023, organized by the National Council of Science and Technology of Paraguay (CONACYT) and the Paraguay Innovation Economy Network (REIP) with the co-organization of the National University of Asuncion (UNA), the American University (UA) and the German-Paraguayan university (UPA).The objective of the …
II Master Academy LALICS 2023 New approaches to innovation for sustainable Read More »
This session covers Reading 4: Chapter VII of Lombard Street by Walter Bagehot. Bagehot Study Questions This chapter explains the workings of the Bank of England's reserve management system in the second half of the 19th century. It is here that Bagehot describes the central banking approach that would later become known as the Bagehot …
Narrative capital and spiritual capital are two ancient types of capital that are becoming increasingly important for our time’s well-being, while the modern approach to social capital serves as the connective tissue that binds them in our daily encounters. Narrative capital comprises stories, tales, legends, origin myths, and traditions passed down over time and discussed …
YSI @ Economy of Francesco International Summer School 2023 | La Verna Read More »
This session covers Lecture 9: The World That Bagehot Knew and Lecture 10: Dealers and Liquid Security Markets. Lecture 9 Notes Lecture 10 Notes Lecture 9 describes the nineteenth-century London money market operating through banks buying and selling self-liquidating commercial bills of exchange at a discount to face value. Deficit agents sell bills of exchange …
INTRODUCTIONLiquidity Project Financial Market Infrastructure (LPFMI) is building a lasting community on issues around FMI since 2018. Thesis is, it matters how these structures are set for financial markets to do its job, namely helping economic development by allocating capital. LPFMI OVERVIEW 2023 We are destined to interact with practitioners from both the public and …
The liquidity project – Financial Market Infrastructure (LPFMI) – 2023 Read More »
We invite young scholars who are interested in honing their writing skills to join the Cooperative Book Project Team in the second write-shop on literature review. This comes after a string of seminars on writing on the functions of cooperatives in resource management. Everyone is welcome to join us. Dr. Michelle North will be the …
Cooperatives Book Project Write-Shop 2 (Literature Review) Read More »
This session covers Reading 5: Three chapters from A Market Theory of Money by John Hicks (1989). Hicks Study Questions In these three chapters, Hicks starts with the idea that the primary function of money is to serve as a "standard of value" for the market. The function of money, as a standard, is to …
Introduction Input-output (I-O) analysis represents an important tool for economists to understand the complexity of our economies. To support a new generation of economists using I-O analysis, the YSI Working Groups on Urban and Regional Economics, and Innovation are partnering up with the International Input-Output Association (IIOA) to invite Young Scholars to apply for participation …
Young Scholars Development Programme on Input and Output Analysis Read More »
This session covers Lecture 11: Banks and the Market for Liquidity and Lecture 12: Lender/Dealer of Last Resort. Lecture 11 Notes Lecture 12 Notes Lecture 11 generalizes the Treynor model from security dealers to the term funding market and the overnight money market. It also examines the puzzle of why it's profitable for banks to …
The 2008-2009 economic crisis interrupted the expansion of Global Value Chains (GVCs) as different manufacturing reshoring processes were registered, that then were deepened by the Covid-19 pandemic. This was accompanied with a re-emergence of industrial policy in developed and developing countries. In the automotive industry, this crisis generated a general shift in output in favour …
The Global South in the electric vehicles global value chains Read More »
Ecologizing Economics: Reflexivity, Methods and Interdisciplinarity in the Age of Anthropocene In the context of a multidimensional ecological crisis, economic analysis is challenged to adapt its methods so that it can remain relevant to contemporary issues and preserve the important place it has gained in public decision-making. In particular, calls to strengthen the consideration of …
Ecologizing Economics: Reflexivity, Methods and Interdisciplinarity… Read More »
Replication - Webinar series meeting 1: Special issue & Textbook
The YSI Inequality and Development Working Groups happily announces a special session to be held during the 25th Annual Conference of the Association for Heterodox Economics (AHE). The joint session will focus on ''Rethinking Development in a Growingly Unequal World''. We invite young scholars (PhD and MSc students) to submit working papers for discussion. Selected …
YSI Roundtable at AHE 2023: Rethinking Development in a Unequal World Read More »
This is the first of three sessions on Stefan Eich's 2022 book The Currency of Politics: The Political Theory of Money from Aristotle to Keynes. https://www.amazon.com/Currency-Politics-Political-Theory-Aristotle/dp/0691191077/ From the Description: Stefan Eich examines six crucial episodes of monetary crisis, recovering the neglected political theories of money in the thought of such figures as Aristotle, John Locke, …
This session covers Reading 6: The Economics of the Dealer Function by Jack Treynor. Treynor Study Questions We've already built an intuition for the Treynor model. This is the article where Treynor spells the original version of that model in which securities dealers profit by selling market liquidity. Dealers make a bid-ask spread inside the …
The Keynesian Working Group is happy to announce a call for papers to the YSI @ 16th EAEPE Summer School, Economic policy and welfare in a context of high inflation. We invite you to submit your abstract to the Special section organized by the Young Scholars Initiative at the EAEPE Summer School. The event will …