For according to her reading, as America ages and as American society changes an increasing share of the increase in health care costs is going to be driven not by increases in adverse selection by insurers or by moral hazard driven by doctors ordering inappropriate and barely effective care, b...
[I]t would be better if ideas as good as Minsky’s could be put into a more formal framework since that would make them more useful. But the correct ordering is... start with theories that are doing some good and try to make them formal to make them more useful. Starting with formal...
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While it’s true that worries about Greece can have an adverse effect on the euro, again it’s pushing the limits of credibility to suggest that hedge funds are deliberately trying to manipulate the market in Greek credit so as to make money on their foreign exchange plays. Especially when,...