nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2008‒12‒14
five papers chosen by
Karl Petrick
University of the West Indies

  1. An Overview of Climate Change: What does it mean for our way of life? What is the best future we can hope for? By Goodwin, Neva
  2. Shattered on the Rock? British financial stability from 1866 to 2007 By Milne , Alistair; Wood, Geoffrey
  3. Determinants of Students€٠First Impressions of Instructors and Courses By Dicks, Michael R.; Pruitt, J. Ross; Tilley, Daniel S.
  4. Evaluating Teaching Methods: Is It Worth Doing Right? By Nelson, Robert G.; Wilson, Norbert L.W.
  5. An Historical Perspective on the Crisis of 2007-2008 By Michael D. Bordo

  1. By: Goodwin, Neva
    Abstract: This paper starts with the question of whether climate change will require a significant reduction of consumption among the richer people in the world, and ends with the most optimistic picture the author can conjure up, of the world in the year 2075. That hopeful picture is of a world in which inequalities €Ӡamong and within nations €Ӡhave been substantially reduced. The challenges and adjustments confronting humanity in the coming decades provide an opportunity that could be used to mitigate climate change in ways that can improve the circumstances of the poor. Ecological reasons to reduce throughput of energy and materials in economic systems urge the abandonment of high-consumption life-styles. The 21st century will be an era of many losses, but it is conceivable that societies will successfully make the transition from goals of economic growth, as understood in the 20th century, to goals of maintaining and increasing sustainable well-being.
    Keywords: Environmental Economics and Policy, Institutional and Behavioral Economics, International Development, International Relations/Trade, Political Economy, Resource /Energy Economics and Policy,
    Date: 2008–03
  2. By: Milne , Alistair (Cass Business School); Wood, Geoffrey (Cass Business School)
    Abstract: In autumn of 2007 Britain experienced its first bank run of any significance since the reign of Queen Victoria. The run was on a bank called Northern Rock. This was extraordinary, for Britain had been free of such episodes because by early in the third quarter of the 19th century the Bank of England had developed techniques to prevent them. A second extraordinary aspect of the affair was that it was the decision to provide support for the troubled institution that triggered the run. And thirdly, unlike most runs in banking history, it was a run only on that one institution. This paper considers why the traditional techniques for the maintenance of banking stability failed – if they did fail – and then considers how these techniques may need to be changed or supplemented to prevent such problems in the future. The paper starts with a narrative of the events, then turns to banking policy before the event and to the policy responses after it. We suggest both why the decision to provide support triggered the run and why the run was confined to a single institution. That prepares the way for our consideration of what should be done to help prevent the recurrence of such episodes in the future.
    Keywords: bank failure; lender of last resort; money markets; bank regulation
    JEL: E42 E58 N24
    Date: 2008–12–10
  3. By: Dicks, Michael R.; Pruitt, J. Ross; Tilley, Daniel S.
    Abstract: Students evaluated instructors and courses in the first two weeks of the fall semester to determine the factors that form impressions in the early stages of the semester. Results indicate differences exist between upper and lower division courses with presentation of material and perceived workload as key factors that students use to form first impressions.
    Keywords: Teaching/Communication/Extension/Profession,
    Date: 2008
  4. By: Nelson, Robert G.; Wilson, Norbert L.W.
    Abstract: Reviewers of manuscripts on classroom experiments often ask the authors to provide evidence of the effectiveness of the method, presumably to justify substituting experiments for lectures. After reviewing the current state of evaluation methodology, we argue that such evidence may be neither sufficient nor even necessary for the purpose.
    Keywords: Teaching/Communication/Extension/Profession,
    Date: 2008
  5. By: Michael D. Bordo
    Abstract: This paper provides an historical perspective on the crisis of 2007-2008. The crisis is part of a perennial pattern. It has echoes in earlier big international financial crises which were triggered by events in the U.S. financial system. Examples include the crises of 1857, 1893 1907 and 1929-33. This crisis has many similarities to those of the past but also some important modern twists.
    JEL: N10
    Date: 2008–12

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