Archive

The current paper returns to the key questions of wages and incomes and how wealth effects cripple reliance on interest rates to control inflation.

How convincing is the model analysis by Bernanke and Blanchard? How empirically relevant are their mechanisms causing inflation – and how robust and plausible are their econometric findings?

The re-emergence of inflation threw the ‘science of monetary policy’ off the rails. Do the new tweaks to the theory work?

Were the sharp increases in prices during 2020-2022 due to fundamental shifts in supply and demand or are they attributable to excessive market speculation?

A critical reappraisal of the case in favor of monetary tightening pressed by inflation hawks is overdue.

Fears of ‘stagflation’ have come back to haunt macroeconomic policy makers all over the globe

Are there alternative, less socially costly, ways to bring inflation down?

Contrary to the neoclassical loanable funds theory, historical bond yields show Keynes was right that “convictions” anchor long-term interest rates

The popular discontent and rise of ‘populist’ political parties is closely related to the failure of New Labor to navigate social democracy’s dilemma.

This paper considers the ambition, scale, substance and strategy of the European Union’s Green Deal

Using tools from computational linguistics, we construct new measures of the impact of Brexit on listed firms in the United States and around the world

We adapt simple tools from computational linguistics to construct a new measure of political risk faced by individual US firms: the share of their quarterly earnings conference calls that they devote to political risks.

It was too good to be true: Another effort to vindicate austerity falls victim to flawed methodology.

Everyone is waking up to the fact that estimates of what is possible in the economy are way off: this paper explains why

This paper analyzes the performative impact of the European Commission’s model for estimating ‘potential output’, which is used as a yardstick for measuring the ‘structural budget balance’ of EU countries and, hence, is crucial for coordinating European fiscal policies.