Writing the Law Needed For Nominal GDP Targeting

Different countries have different central banks. How can each adopt nominal GDP targets in their own jurisprudential tradition?
Find out at: https://ssrn.com/abstract=3023795



Gephi 0.9.1 Won’t Work Unless You Specific a Java Folder

Do you love network analyses — but can’t get the new Gephi to work on Windows? Are you a social scientist — and so scared of all the programming stuff you see in every “fix”? Here is the fix, explained for normal people.

1. Open the Gephi folder in your Program Files directory (you can also see this file on the Start Tab),

2. Open the config file using WORDPAD (just treat this file like any old text document you might see in Word…but wrtitten in a foreign language),

3. Find the part at the end that says ” #jdkhome=”/path/to/jdk” (they never intended for this part to work — they assumed you would go in and fix this yourself)

4. Replace this with the path to your Java folder (in my case, it was at “C:\Program Files\Java”)

5. Save this CONFIG file (just save, thats all).

Once you get your head around the fact that Gephi’s designers never intended it work directly as downloaded, you will be fine.

Just click on Gephi now — and it will work.

Thanks to massoud — without whom I would never have gotten this to work…. http://forum-gephi.org/viewtopic.php?f=3&t=3580

For more advice, see: http://web.hku.hk/~bmichael/

Happy networking!

Redesigning the Qianhai Special Economic Zone

The Chinese government wants to create a global financial centre from scratch. The centre — Qianhai — will sit in Shenzhen and attract firms from high-tech, logistics and financial companies. Local laws currently give the development the status of a large-scale real estate project. Yet, with significant legal changes, Qianhai can increase profits in the region by 4 to 10 fold.

For the full study, see: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2907608


Toward A Theory of Bubble Economics

In our recent article for the Lincoln Institute of Land Policy, we calculate the changes in real estate prices needed to trigger an economic crisis. For China, we find that a 30% real estate price drop should bring economic growth to a complete stand-still.



More importantly, we describe a model which takes into account economic phenomenon which only occur during the collapse of a bubble. To calibrate our model, we data from real estate price collapses from other large economies.