Archive

Investigations into the possible effects of the fiscal consolidations required under the new European fiscal rules on Italy’s debt-to-GDP ratio find that the new governance framework may lead to the pro-cyclical tightening, weaker growth and adverse debt dynamics that characterized earlier phases of EU fiscal governance.

Why the E-DSGE Framework Is Not Fit for Purpose and What to Do About It

A major factor in the decline of inflation is the simple fact that America’s workers were, in general, unable to raise their nominal wages in line with the rise in the cost of living

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

EEO-1 employment data document the vast over-representation of Asian Americans and vast under-representation of African Americans at tech companies in recent years. How did this happen?

Even if psychological factors influence participants’ decision-making, as behavioral economists compellingly argue, incorporating such factors into economic theory would seem to require that market participants adhere to elementary logical rules.

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