October 2008 - The Sebastian Buhai Blog

The Concise Encyclopedia of Economics ONLINE

…highly recommended for anybody interested in Economics, with or without much formal background in this science.

Start, for instance, with an excellent short exposition of “the Economics of Communism“, by Bryan Caplan (recall him as the author of this book you should in no way miss).

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Econlinks

“First — Chill — then Stupor — then the letting go“: a historical perspective on the market, starting with the Great Crash

What would Milton Friedman say about the current financial crisis?

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Subprime primer in 45 slides

AAA-rated CDOs and Norwegian village pension funds .

Somehow I missed this post of Greg Mankiw from a few months ago, though it is indeed way too good (reminder via one of Mankiw’s recent posts, where the focus is on the financial crisis made clear for kids).

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And the winner is…

… Paul Krugman, “for his analysis of trade patterns and location of economic activity“! One of the younger/est Econ Nobel prize winners (perhaps second youngest after Ken Arrow).

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Econ Nobel ’08: My prediction

Some two hours before they should officially announce it, here’s my prediction for this year’s Economics Nobel:

The 2008 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel goes to Oliver Hart, Bengt Holmstrom and Oliver Williamson for their contributions to the theory of the firm.

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