The crisis at the WTO
The U.S. has been chipping away at the WTO for the last two years. How does today’s situation compare to the U.S.-Japan trade war of the 1970s?
The revolts of 2019
Branko Milanovic wonders why the world is in uproar and Nicola Gennaioli and Guido Tabellini offer a possible explanation.
Software and robots vs AI
Software, robots and AI are negatively affecting low, middle and high skill jobs. When all these changes happen at the same time which public policies are effective?
Monetary policy and bounded rationality
In an economy with myopic agents: Is fiscal policy more powerful than monetary policy? Are simple Taylor rules effective in setting monetary policy?
The billionaire problem
Mankiw of Harvard, Farmer of Warwick and Johnson of MIT debate over billionaires’ contributions to the economy.
New research on the business cycle
Speculation and aggregate demand in a low interest rate environment. Which propagation mechanism best describes business cycles?
Banks in the crossfire of FinTech
How are banks affected by both FinTech and BigTech? Can FinTech bring deep changes?
Why has China’s current account surplus shrunk?
In 2018 the decrease in China’s current account surplus was one of the highest. Are cyclical or structural factors at play? What are the implications for the “global savings glut”?
The limitations of macropru
Is tightening macroprudential policies effective during crises or electoral cycles?