420 Results for “inflation”
-
Article
Rapid Money Supply Growth Does Not Cause Inflation
Dec 2, 2016
Neither do rapid growth in government debt, declining interest rates, or rapid increases in a central bank’s balance sheet
-
Article
Inflation Narratives and Their Consequences
Jul 31, 2023
On the reflexive relationship between inflation and inflation narratives
-
Article
Mainstream Economists Have Been Using a Misleading Inflation Model for 60 Years
Feb 8, 2021
Comment on Paul Krugman’s recent observations on US inflation
-
Article
Standard Inflation Theory Leaves Out Social Conflict and Costs
Jun 10, 2021
What That Means For Biden’s Inflation Policy Trilemma
-
Article
Bernanke and Blanchard’s Obsession with the Wage-Price Spiral
Apr 8, 2024
Bernanke and Blanchard have made another failed attempt to salvage establishment macroeconomics after the massive onslaught of adverse inflationary circumstances with which it could evidently not contend.
-
Video
Unmasking Inflation: Why the Conventional Wisdom is Failing Us
Jun 21, 2023
Dive into the complexity of inflation and its impacts from a heterodox perspective, exploring its historical journey, social implications, and potential remedies.
-
News
Taylor and Barbosa’s response to Krugman's inflation argument is summarized in Daily Kos
Feb 9, 2021
RSS PUBLISHED TO eState4Column5©2013 Political Economy Group DK PEG Anti-Capitalist Chat TAGS Culture Economy Employment Media MMT PoliticalEconomy publicpolicy stagflation WhiteHouse Share this article Let real wages (of $15+/hour) grow faster than labor productivity for some years, undoing the wage repression of the last decades. We have been misled by neoliberal economics for now many decades, it’s time to turn many things around in what is becoming a second-rated US economy, recently crippled by the malevolent and narcissistic “king of debt”. In economics, stagflation or recession-inflation is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment. The biggest risk for the stock market in 2021 is inflation, according to Morgan Stanley. Unprecedented radical spending by the federal government and the Federal Reserve, to stave off a panic-induced market crash, helped artificially drive stocks to temporary new highs last year. www.laloftblog.com/… For some, the math bore out the possibility that exuberance was rational even if the economy is always more irrational than its math. “The Lucas fantasy of costless disinflation from credible commitments in an ergodic world of rational agents was decisively falsified long ago.” The underlying problems of supply shocks related to Trumpian idiocy atop bailing out the banksters may have made the economy much worse. The pandemic has only made a bad situation worse, or made more of us myopic in our isolation. Paul Krugman has now taken the time to question the orthodoxy of stagflation. Darn economic orthodoxy being wrong since the 1970s. Let me start with the inflation story the way most economists, myself included, have been telling. In the beginning was the Phillips curve: the apparent tradeoff, fairly visible in the data, between unemployment and inflation. In the 1960s many people looked at that tradeoff, considered the mild costs of inflation versus the benefits of lower unemployment, and argued for monetary and fiscal policies aimed at running the economy hot. But in a hugely influential speech Milton Friedman made an argument also independently made by Columbia’s Edmund Phelps: the unemployment-inflation tradeoff wasn’t real, because any sustained effort to keep unemployment low would lead not just to high inflation but to ever-accelerating inflation. They claimed, specifically, that people setting wages and prices would begin marking them up to anticipate future inflation, so that the inflation rate associated with any given unemployment rate would keep rising. They predicted, in particular, that the course of the economy over time would look something like this: https___bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com_public_images_81db75c8-59f2-4b95-a60a-fe404a50c119_914x5331.png First, a government would push unemployment down; but this would lead to ever-rising inflation, which would stay high even as the economy cooled. So it would take a sustained period of high unemployment to get inflation down again, until finally unemployment could be brought back to a sustainable level. So their analysis predicted “clockwise spirals” in unemployment and inflation. Then came the 1970s: https___bucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com_public_images_1d91277a-44fe-422b-b0c3-f1dfa8fb7428_933x5501.png This sure looked like a dramatically successful out-of-sample prediction — sort of an economics version of “Light bends!” Almost everyone in the economics profession took the Friedman-Phelps analysis as confirmed. This in turn had big practical and intellectual consequences. First, governments and central banks stopped pursuing low unemployment, believing that excessively ambitious stimulus caused the stagflation of the 1970s. They began aiming for stable unemployment around the NAIRU —non-accelerating-inflation rate of unemployment — instead. Second, since the Friedman/Phelps prediction was based on trying to assess what rational price-setters would do, their apparent success gave a big boost to the notion that all economics should be based on maximizing behavior. Friedman always had too strong a reality sense to personally go down the rational-expectations rabbit hole that swallowed much of macroeconomics, but given the law of diminishing disciples it was bound to happen. Third, the whole affair gave a boost to conservative ideology. We had seemingly seem a demonstration of the limits to government action; also, the Chicago boys had seemingly been proved right about something big. (I remember classmates in grad school saying “They were right about this. Why don’t you think they’re right about the rest?”) Finally, the Volcker disinflation of the 1980s — using high unemployment to end high inflation — became, in many minds, the model of what responsible policymakers should do: make tough choices for the sake of the future. BUT WHAT IF WE’VE BEEN TELLING THE WRONG STORY ALL ALONG? […] But suppose something like this is true. In that case, the narrative that saw stagflation both as the cost of excessively ambitious macroeconomic policy and as a vindication of conservative economic ideas was mostly wrong. And that matters not just for history but for policy right now, which is still to some extent constrained by the fear of a 70s repeat. How do you ask someone to be the last worker to be unemployed for a mistake? paulkrugman.substack.com/… The reality in a response by Lance Taylor and Nelson Henrique Barbosa Filho is that “For practical purposes, the results mean that, for the Fed to meet its inflation target, it would be necessary to let real wages grow faster than labor productivity for some years, undoing the wage repression of the last decades. Biden’s $15 minimum-wage proposal is a correct step in that direction.” This is despite so many economists taking an opposite, more cautious position. — Daily Kos
-
Article
In the Footsteps of Ptolemy: The ‘Science of Monetary Policy’ and the Inflation of 2021-2023
Oct 9, 2023
The impenetrability of this continuously expanding Ptolemaic New Keynesian paradigm is maddening
-
Article
Markups, Profit Shares, and Cost-Push-Profit-Led Inflation
Jun 6, 2023
To what extent is profit-led inflation compatible with what we know about the price-setting behavior of firms and income distribution?
-
Article
Inflation, Import Prices, and the Labor Share
Jan 25, 2021
The Challenge to Bidenomics
-
Article
Inflation in a Time of Corona and War
Jun 6, 2022
Evidence-based answers to the main (policy) questions concerning the return of high inflation
-
Article
A Big Fiscal Push is Urgent, The Risk of Overheating Is Small
Mar 2, 2021
The $1.9 trillion stimulus should be large because the need is large
-
Article
The Great Inflation Debate: Supply Shocks and Wealth Effects in a Multipolar World Economy
Jan 3, 2023
Setting the record straight and identifying less destructive pathways forward than round after round of interest rate increases.
-
Webinars and Events
Global Inflation Today: What Is to Be Done?
ConferencePERI Conference, featuring INET Research Director Thomas Ferguson and INET Grantees
Dec 2–Nov 3, 2022
Emerging out of the COVID lockdown, inflation in the U.S. and globally has risen to the highest levels in 40 years. On December 2-3, PERI will host a conference to explore the causes of this global inflation spike. Conference participants will also provide critical perspectives on the austerity macroeconomic policies being implemented globally to control inflation and will propose alternative policies capable of managing inflation without imposing austerity and rising mass unemployment.
-
Article
Profit-Led Inflation Redefined: Response to Nikiforos and Grothe
Jun 6, 2023
Besides changes in institutions and social norms, other phenomena could explain a rise in the profit share.
-
Article
Central Bankers, Inflation, and the Next Recession
Sep 3, 2019
Summers and Stansbury Get It Half Right
-
Article
Central Banks and Income Distribution: Does the Taylor Rule Push Up Rentier Incomes?
Jul 27, 2023
The effect of monetary policy on the functional distribution of income
-
Article
Collateral Damage From Higher Interest Rates
Nov 5, 2022
Why to Be Wary of Another Volcker-Type Monetary Tightening
-
Article
The Quasi-Inflation of 2021-2022: A Case of Bad Analysis and Worse Response
Feb 2, 2023
Why the conventional tools of the Phillips Curve, NAIRU, potential output, and money-supply growth are useless
-
Working Paper
Working PaperInflation in the Time of Corona and War
Jun 2022
Are there alternative, less socially costly, ways to bring inflation down?
-
Article
The Fed Tackles Kalecki
Jun 30, 2022
Ratner and Sim’s “Who Killed the Phillips Curve – A Murder Mystery”
-
Article
Slack in the Economy, Not Inflation, Should Be Bigger Worry
May 19, 2021
Despite fear-mongering about the latest Consumer Price Index, unemployment remains elevated and stimulus is needed to prevent a collapse in demand
-
Working Paper
Working PaperThe Art of Paradigm Maintenance: How the ‘Science of Monetary Policy’ tries to deal with the inflation of 2021-2023
Oct 2023
The re-emergence of inflation threw the ‘science of monetary policy’ off the rails. Do the new tweaks to the theory work?
-
Article
Profit Inflation Is Real
Jun 15, 2023
Inflation and corporate profits, a further discussion
-
Article
Monetary Policy, Illiquidity, and the Inflation Debates
Jan 29, 2024
The key issue is the regulation of the liquidity of all financial markets, and not just that of the banking system
-
Article
Profit Inflation and Markups Once Again
Jun 15, 2023
Inflation and corporate profits, a further discussion, responding to Servaas Storm
-
Article
The Illusion of Control
Mar 6, 2011
Exit Strategies and the New Normal
-
Video
Sellers Inflation
Oct 18, 2023
Is inflation just a number game or does it hold deeper societal implications?
-
Video
Does Inflation Targeting Make the Poor Poorer?
Jan 16, 2019
When central banks set inflation targets, they effectively redistribute income from wage earners to bondholders
-
Article
Nothing Natural About the Natural Rate of Unemployment
Nov 24, 2017
With unemployment reaching very low levels in major economies, despite low – and slowly rising – inflation, it’s time for central banks to rethink their reliance on the so-called natural rate. No numerical target for this rate can serve as an anchor for monetary policy.
-
Article
Demystifying Monetary Finance
Aug 17, 2016
The debate about so-called helicopter money is burdened by deep fears and unnecessary confusions: some worry that monetary finance is bound to produce hyperinflation; others argue that, in terms of increasing demand and inflation, it would be no more effective than current policies. Both cannot be right.
-
Article
Progressive Neoliberalism: Biden’s Economics, Distribution, and Inflation
Sep 30, 2021
What does Biden’s economic policy mean for the future?
-
Article
The Inflation Reduction Act (IRA): A Brief Assessment
Sep 15, 2022
Servaas Storm’s commentary for an INET symposium on the Inflation Reduction Act
-
Article
6 Economic Experts Reveal the Truth About the Inflation Reduction Act
Aug 30, 2022
Is it good for your wallet? A climate bill in disguise? Landmark action or nothingburger? Economic experts assess the Democrats’ legislative victory for the Institute for New Economic Thinking.
-
News
The New York Times cites Servaas Storm’s INET Working Paper on Bernanke and Blanchard’s Inflation Explanation
Apr 12, 2024
Peter Coy, in an OpEd for the New York Times, cited Servaas Storm’s INET working paper criticizing Bernanke and Blanchard’s inflation explanation.
-
Working Paper
Working PaperInflation in the Time of Corona and War: The Plight of the Developing Economies
Nov 2022
Fears of ‘stagflation’ have come back to haunt macroeconomic policy makers all over the globe
-
Working Paper
Working PaperMyth and Reality in the Great Inflation Debate: Supply Shocks and Wealth Effects in a Multipolar World Economy
Jan 2023
A critical reappraisal of the case in favor of monetary tightening pressed by inflation hawks is overdue.
-
Working Paper
Working PaperWhy The Monetary Policy Framework in Advanced Countries Needs Fundamental Reform
Aug 2023
Monetary policy should be guided much more by financial sector developments and much less by near-term targets for inflation.
-
Working Paper
Working PaperTilting at Windmills: Bernanke and Blanchard’s Obsession with the Wage-Price Spiral
Apr 2024
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?
-
Article
Blanchard, the NAIRU, and Economic Policy in the Eurozone
Mar 31, 2016
A recent policy brief by Blanchard (2016), based on an earlier paper (Blanchard, Cerutti, Summers 2015) raises a number of interesting points concerning the NAIRU and the Phillips Curve, which are further discussed in the comment on the paper by Ball (2015).
-
Article
Oil Prices, Oil Profits, Speculation, and Inflation
Jun 26, 2023
The role of speculation in the crude oil market in the increase in the WTI crude oil price.
-
Article
Long-Term Unemployment Is Reversible
Apr 26, 2021
Contrary to the New Keynesian paradigm, long-term unemployment can be reversed without a significant uptick in inflation
-
Article
Experts on Inflation: Prognosis, Political Fallout and Who’s Really to Blame
Nov 18, 2021
Economists Claudia Sahm, Servaas Storm, and Pia Malaney share their views on the problem that has everyone freaking out. Here’s what it all means for your pocketbook – and your democracy.
-
Article
How Corporations “Get Away With Murder” to Inflate Prices on Rent, Food, and Electricity
Oct 19, 2022
Antitrust expert Hal Singer shows how big businesses in certain industries are taking advantage of inflation worries to jack up prices far beyond their cost increases, all the while raking in robber-baron profits.
-
Article
How to Fix Monetary Policy in Advanced Countries
Aug 14, 2023
The monetary policies of major central banks in advanced economies have had negative consequences and thus need to be fixed
-
Article
Macroeconomic Stimulus à la MMT
Apr 30, 2019
Modern Monetary Theory is problematic. Launching large scale fiscal programs that rely on it would be skating on thin ice.
-
Article
How Inflation Reduction Became Export Promotion
Sep 15, 2022
Thomas Ferguson’s commentary for an INET symposium on the Inflation Reduction Act
-
Article
Monetary Finance: Mechanics & Complications
May 23, 2016
Eight years after the 2008 crisis the global economy is still stuck with low growth, too low inflation, and rising debt burdens. Massive monetary stimulus has failed to generate adequate demand, and some commentators suggest that we are “out of ammunition” with which to counter deflationary pressures.
-
Article
A Model’s Crisis
Sep 21, 2013
Friedrich von Hayek described the economist’s task as demonstrating how little we really know about what we imagine we can design
-
Article
Inflation and Power
Feb 12, 2024
It was a mistake to accept a ‘reference price’-determination process for basic commodities led by finance
-
Collection
Symposium on the Inflation Reduction Act
Servaas Storm, Steven Fazzari, and Thomas Ferguson comment on the Inflation Reduction Act
-
Article
Shadow money, still contracting
May 10, 2011
These days, one hears worries of impending inflation.
-
Collection
Profit-Led Inflation and Markups: A Discussion
Michalis Nikiforos, Simon Grothe, and Servaas Storm criticize Marc Lavoie’s recent take on the current inflation debate. Marc Lavoie responds.
-
Article
Argentina’s Unseen Fragility
May 18, 2018
With growth fueled by an increase in debt, Argentina is facing an uncertain economic future, despite investors’ generally rosy view. The government of Mauricio Macri has options to address the country’s macroeconomic risks, but none of them will be free of tough choices.
-
Article
Not So Modern Monetary Theory
Oct 31, 2019
Policy hype but vintage fiscal economics from Godley, Lerner, and Keynes
-
Working Paper
Working Paper SeriesInflation? It’s Import Prices and the Labor Share!
Jan 2021
Recognizing that inflation of the value of output and its costs of production must be equal, we focus on a cost-based macroeconomic structuralist approach in contrast to micro-oriented monetarist analysis.
-
Working Paper
Working Paper SeriesAre Low Interest Rates Deflationary? A Paradox of Perfect- Foresight Analysis
Sep 2015
A prolonged period of extremely low nominal interest rates has not resulted in high inflation. This has led to increased interest in the “Neo-Fisherian” proposition according to which low nominal interest rates may themselves cause inflation to be lower.
-
Working Paper
Working PaperMuth’s Hypothesis Under Knightian Uncertainty
Dec 2022
A Novel Account of Inflation Forecasts
-
Working Paper
CommentaryWhy a future tax on bank credit intermediation does not offset the stimulative effect of money finance deficits
Aug 2016
This paper responds to a paper by Claudio Borio, Piti Disyatat and Anna Zabai “Helicopter Money: the Illusion of a Free Lunch”
-
Working Paper
Working PaperWhat Next for the Post Covid Global Economy: Could Negative Supply Shocks Disrupt Other Fragile Systems?
Jan 2023
The principal threat to economic stability currently is the overhang of debt, both private and public.
-
Working Paper
Working PaperMarket Participants Neither Commit Predictable Errors nor Conform to REH
Sep 2021
Evidence from Survey Data of Inflation Forecasts
-
Article
Central Banks, Secular Stagnation, and Loanable Funds
Sep 3, 2019
A Comment on Summers and Stansbury
-
Working Paper
Working PaperTrump versus Biden: The Macroeconomics of the Second Coming
May 2024
The current paper returns to the key questions of wages and incomes and how wealth effects cripple reliance on interest rates to control inflation.
-
Article
Top Economist: As Pandemic Recedes, a Chance to Rethink Unemployment
Jun 3, 2021
Canadian economist Mario Seccareccia, recipient of this year’s John Kenneth Galbraith Prize in Economics, says it’s time to reconsider the idea of full employment. He spoke to Lynn Parramore of the Institute for New Economic Thinking about why 2021 offers a rare opportunity to rebalance the economy in favor of Main Street.
-
Working Paper
Working PaperBetting on Black Gold: Oil Speculation and U.S. Inflation (2020-2022)
Jun 2023
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?
-
Article
It’s Time for a Debt “Jubilee”
Sep 11, 2020
Why freeing American households and businesses from crippling private debt would be a boon to the economy. Article reposted from DemocracyJournal.org.
-
News
INET Working Paper on the non-inflationary effects of unemployment reductions is cited in The Worker
May 17, 2021
“Among those contributions, recent works highlight the deep, radical revision of axioms considered cystic: that hysteresis, the permanence of high unemployment rates over time, is a basic condition to keep inflation under control. Professors Walter Paternesi, Davide Roamniello and Antonella Stirati have empirically demonstrated that this thesis is not permanent and that long-term unemployment can be reversed without a significant spike in inflation (https://www.ineteconomics.org/research/research- papers / on-the-non-inflationary-effects-of-long-term-unemployment-reductions). Another flagship of themainstream that can fall apart.” — Carles Manera, The Worker
-
Article
Mainstream Macroeconomics and Modern Monetary Theory: What Really Divides Them?
Sep 6, 2018
Despite disparate policy beliefs, MMT and orthodox macro rely on many of the same theoretical foundations
-
Article
CARES Will Care for Wall Street and Big Business, for Macroeconomic Balance Maybe Not So Much
Apr 6, 2020
Much historical commentary emphasizes how pandemics restructure long-standing social and political arrangements. The observation applies to macroeconomics as well.
-
Article
The Roots of Argentina’s Surprise Crisis
Jun 12, 2018
A change in macroeconomic policies will not be sufficient to set Argentina on a path of inclusive and sustained economic development. But, as last month’s currency scare showed, abandoning the approach adopted by President Mauricio Macri’s administration at the end of 2015 is a necessary step.
-
Article
Fiscal implications of the ECB’s bond-buying program
Jun 14, 2015
The monetary-fiscal policy connection is under scrutiny by the German Constitutional Court in the context of the ECB’s OMT bond-buying programme. This column argues that most analyses are deeply flawed by the misapplication of private-company default principles to the central bank. ECB bond-buying transforms public bonds into monetary base, and sovereign-default risk into inflation risk. The real question is: What is the non-inflationary limit to money-base expansion? This depends upon the economic situation and is much higher in the current liquidity-trap setting.
-
Article
The Financial Crisis of 2023: Protecting Big Finance, Coming and Going
Mar 27, 2023
There needs to be a safe place for businesses to place their reserves and working capital
-
Article
Wage Moderation and Productivity in Europe
Jan 28, 2016
Recently, our analysis has been questioned by Servaas Storm who has claimed that it is untenable to blame neo-mercantilist Germany for driving a wedge into the Eurozone. [i] It is shown below that Storm’s critique has a certain aplomb, but lacks substance.
-
Article
How Should the Government Negotiate Medicare Drug Prices? A Guide for the Perplexed
Mar 4, 2024
The “maximum fair price” for a drug must not only be equitable to those with unmet medical needs who may benefit from the use of the drug but also provide equitable returns on both public and private sector investments.
-
Article
Turner: Why Macroeconomic Policies are Failing
Sep 29, 2016
In a Bloomberg Markets Most Influential Summit Debate, Institute board chairman Adair Turner explains why extraordinary monetary policy isn’t working
-
Webinars and Events
Between Debt & the Devil
DiscussionWith Adair Turner and Martin Wolf
Oct 15, 2015
Adair Turner talks about his new book, Between Debt & the Devil: Money, Credit, and Fixing Global Finance with Martin Wolf of the Financial Times in a free, public discussion.
-
Article
Worker’s Wages & Leverage Are the Real Targets
Nov 18, 2022
Why did Corporate Democrats “cede” the economic argument? Are they really fighting inflation or trying to weaken workers’ bargaining power? INET’s Thomas Ferguson joins Paul Jay on theAnalysis.news.
-
Article
German Worries: Fear Fosters Crisis
Jul 20, 2016
Inflation, the euro crisis – for years there has been one worry hype after another. Yet fear frequently turns out to be wrong. We need a committee of wise men in charge of dealing with the real risks.
-
Article
IMF Calls for New Economic Thinking
Mar 13, 2011
Or Does It?
-
Article
Yellen Challenges Economists Amid Elusive Great Recovery
Oct 24, 2016
Like the Great Depression and the stagflation of the ’70s, the anemic growth of the U.S. economy can’t be understood or remedied without changes in economists’ thinking
-
Article
Is it Really "Full Employment"? Margins for Expansion in the US Economy in the Middle of 2019
Sep 6, 2019
Many indicators say the US is close to full employment: Hours of work tell a different story.
-
Article
The Full Case Against Ultra Low and Negative Interest Rates
Mar 17, 2021
There are several reasons why unprecedentedly low interest rates will probably not stimulate demand and may even threaten financial stability
-
Article
Three Economic Surprises to Watch for in 2017
Feb 2, 2017
Institute Governing Board member Anatole Kaletsky argues that the Trump Administration’s policies will boost inflation and spur interest-hikes as well as a stronger dollar more rapidly than many expect, but that the European Union’s economy is on the mend
-
Article
In Tribute to Lance Taylor (1940 - 2022)
Aug 16, 2022
Everyone at INET is saddened by the news that our colleague Lance Taylor passed away on Monday, August 15th, 2022. His loss leaves a giant hole in our hearts as well as in the field of economics. His talents and achievements were prodigious and we will miss his cheerful and inspiring presence. Words help little on such occasions, but we would like to extend our condolences to his wife Yvonne, and his children Signe and Ian.
-
Working Paper
Conference paperMacroeconomic stabilization, monetary-fiscal interactions, and Europe’s monetary union
Oct 2017
The euro area has been experiencing a prolonged period of weak economic activity and very low inflation.
-
Article
Rethinking Macroeconomic Theory Before the Next Crisis
Sep 23, 2016
While many countries throughout the world have faced severe financial crises over the last decades, and while the Japanese stagnation and the 1997 Asian financial crisis did induce some additional interest for the introduction of banking and finance in macroeconomic theory, it is only with the advent of the US subprime financial crisis that macroeconomic and monetary theories put forward by mainstream economists have started to be questioned.
-
Working Paper
Working Paper SeriesOn the Non-Inflationary Effects of Long-Term Unemployment Reductions
Apr 2021
Contrary to the New Keynesian paradigm, long-term unemployment can be reversed without a significant uptick in inflation
-
Article
The Second Coming? Trump vs. Biden
May 17, 2024
How have the macroeconomic problems in the US blinded many participants and observers to the actual state of the American economy as the election approaches?
-
Video
Calculating the Cost of COVID
Jun 23, 2021
Inflation? Expanding digital currencies? What’s next in this brave new world?
-
News
Rob Johnson on Background Briefing with Ian Masters
Jul 20, 2022
Rob Johnson joins Background Briefing with Ian Masters to discuss public concern about inflation
-
Collection
Economic Growth
The global economy appears to be stuck in a pattern of low growth, low inflation and unresolved debt burdens. Is this a result of policy mistakes, or have the fundamental dynamics of the economy shifted into an era of little or no growth known as secular stagnation?
-
Conference Session
The Challenge of De-leveraging and Overhangs of Debt I : Inflation and Austerity
Apr 12, 2012 | 03:45—05:55
After an era of vigorous expansion a downturn can reveal a large stock of debt relative to the economy’s capacity to service it.
-
Working Paper
CommentaryWhy a money financed stimulus is not offset by an inflation tax
May 2016
In the growing debate about the pros and cons of a monetary financed fiscal stimulus (a.k.a. helicopter money) it is argued by some participants that a money-financed stimulus will have no more effect than a debt financed stimulus since:
-
Working Paper
Working Paper SeriesNavigating the Crises in European Energy
Sep 2022
Price Inflation, Marginal Cost Pricing, and Principles for Electricity Market Redesign in an Era of Low-Carbon Transition
-
News
Michael Greenberger in Salon
Jun 17, 2022
Michael Greenberg’s INET working paper on derivatives regulation is featured in Salon
-
Working Paper
Working Paper SeriesThe Secular Stagnation of Productivity Growth
Jan 2020
This paper argues that it is a mistake to dismiss secular demand stagnation as main cause of declining potential growth in the OECD.
-
Conference Session
The Debate over Secular Stagnation
Dec 15, 2017 | 09:15—10:15
-
Working Paper
Working PaperIs “Inflation First” Really “Rentiers First”? The Taylor Rule and Rentier Income in Industrialized Countries
Jul 2023
Central banks strongly favored rentier incomes in their reaction functions
-
Article
Helicopter Money on a Leash?
May 10, 2016
Any use of money-financed fiscal expansion as a policy tool will require rules to ensure discipline and avoid excess
-
Article
Is MMT “America First” Economics?
Mar 20, 2019
Modern monetary theorists ignore how their policies could hurt developing countries