454 Results for “inflation”

A model that captures key vulnerabilities and structural weaknesses of developing countries’ trade and production structures.

Medicare negotiators need to have a deep understanding - both theoretical and empirical - of the learning processes involved in developing a drug to negotiate a price that is fair.

This time is different. But is it?

What lessons need to be drawn on this anniversary?

What is your first association when somebody talks to you about the economy?

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

“Panics are not needed for banking crises to have severe economic consequences,” says Emil Verner, the MIT professor who helped lead the study. “But when panics do occur, those tend to be the most severe episodes. Panics are an important amplification mechanism for banking crises, but not a necessary condition.” Indeed, in an ambitious piece of research, spanning 46 countries and going back to 1870, the study surveys banking crises that occurred with and without panics. When there is a panic and bank run, the research finds, a 30 percent decline in banking-sector equity predicts a 3.4 percent drop in real GDP (gross domestic product adjusted for inflation) after three years. But even without any creditor panic, a 30 percent decline in bank equity predicts a 2.7 percent drop in real GDP after three years.” — Peter Dizikes, MIT News

A new view of stock market instability under Knightian uncertainty

China is drowning in it. The whole world has too much of it. History suggests: This won’t end well.

The American state has lost the capacity for concentrated and decisive effort at the forefront of technology and the associated science.

That’s the question that Adair Turner, Chair of the UK Financial Services Authority, was addressing in his lecture to Cass Business School this week.

For all the talk of Modern Monetary Theory representing a brave new frontier, it is easy to forget that the United States has gone down this road before, when the US Federal Reserve financed the war effort in the 1940s. Then, as now, the question is not about government debt, but about the debt’s purpose and justification.

Viewed in historical context, the weak recovery from the 2008 crisis has been slow and painful, but a sub-5% unemployment rate and healthy job and wage growth will be among the most important legacies Obama leaves to the next president

“You can’t get out of debt by adding more debt.”

Do temporary economic shocks like the COVID-19 recession create lasting effects on the economy?