Government & Politics

In recent decades, advanced economies have experienced low and stable inflation and long periods of liquidity trap. We construct an alternative business-cycle model capturing these two features by adding two assumptions to a money-in-the-utility-function model: the labor market is subject to matching frictions, and real wealth enters the utility function. These assumptions modify the two core equations of the standard New Keynesian model

This paper empirically examines the effects of the Federal Reserve’s Large Scale Asset Purchases (LSAP) on bank profits.

Why do so many people who should know better argue that Neoliberalism ‘does not exist’?

This paper traces the evolution of the concept of the cyclically adjusted budget from the 1930s to the present.

We investigate the claim that the way in which debtor households service their debts matters for macroeconomic performance.

This paper examines the evolution of intra-financial sector lending in the United States, 1950- 2012, presenting estimates constructed from the Federal Reserve’s Flow of Funds Accounts.

The Chicago School has long used bankrupt assumptions to strangle antitrust policy.

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

Many of the challenges facing the new EU Presidency will need to be addressed not only at the European level but within a reinvigorated multilateral framework.

One thing is clear – the ‘get Brexit done’ slogan resonated in a country which had been living on a series of knife edges as one ‘crunch’ time after another came and went.

The Irresistible Force Meets the Immovable Object?

Brexit uncertainty has already taken an economic toll

On the Modern Economic Theory of Incentives, Markets, and Socialism

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

The Young Scholars Initiative will partner with a range of policy institutions in Washington, D.C. to host thirteen workshops ahead of the INET Conference (14-15 April) and the IMF & World Bank Meetings (16-18 April).