Macroeconomics

Inflation persists not just because of spending or interest rates, but because underlying social conflicts over income, expectations, and power remain unresolved.

How inflationary inertia, driven by distributional conflict, disrupts the economy’s path to an effective demand equilibrium.

Four months of the Trump presidency have already changed the world as we knew it. How did we get here? What consequences have the tariffs had and will have? How will U.S.-European trade relations evolve? What about the confrontation with China?

Times have changed. Now we have David Brooks, of The New York Times, and economics blogger Noah Smith defending neoliberal globalization from the pincer movement of anti-trade populists from both the right and the left.

The most likely outcome of the second Trump administration is a recession and an exacerbation of inequalities, and a further degradation of the living standards of working and middle-class Americans.

The money to support well-paid American jobs exists—it’s just being hoarded at the top. Economist William Lazonick argues that this is not just unfair; it’s a failure of the whole economic system.

The conference, which is part of our Academy’s ‘Future of Humankind’ initiative, will provide a global forum of discussion to scholars engaged in analytically understanding the evolution of world dynamics as a process involving a plurality of mechanisms, viewpoints and intersecting trajectories.

Consumer demand by America’s most affluent citizens is driving consumer spending, and consumer spending, in turn, is the main force keeping inflation so high

A review of Perry Mehrling’s book, Money and Empire: Charles P. Kindleberger and the Dollar System, and an exploration Mehrling’s discussion of the 1982 correspondence between Charles Kindleberger and Ben Bernanke examining their theories concerning financial crises.

Fifty years ago the actions of the Federal Reserve mattered. Today, so far as the aggregate measures of the American domestic economy go, they do not.

What Japan, the US, and Europe have in common is growing popular anger over the economy despite high stock prices and low unemployment.

The firehose of affluent consumption continues to drive inflation, not the stimulus package

Ever since 2016, INET researchers confirmed the significance of economic issues in Trump’s ascendency.

The limitations of the benchmark E-DSGE framework and how these limitations restrict the ability of this framework to meaningfully capture the macroeconomics of the climate crisis.

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