Author: e-axes

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Markets

The role of central bank asset purchases

Do large-scale purchases of government bonds improve welfare? Under what conditions only small purchases can be beneficial?

Monetary Policy

Policymaking under uncertainty

How does uncertainty impact the FOMC’s decisions when the main concern is with maintaining credibility for the inflation anchor? What is a robust monetary policy when the source of an inflation shock is uncertain?

Macro

On fiscal rules

New research on the effectiveness of fiscal rules and their interplay with market discipline.

Monetary Policy

The normalization of monetary policy in Japan

The BOJ, for the first time after more than a decade of super-loose monetary policy, set its policy rate from 0% to 0.1% and abandoned its yield-curve control. Did this normalization go smoothly?

Inflation

Energy prices and their impact on inflation expectations

Two recent papers explore how the recent increases in energy prices, specifically electricity prices, impacted household and firms’ inflation expectations in the Euro Area.

Monetary Policy

The Bernanke Review

On April 12 the Bank of England’s Independent Evaluation Office released ‘Forecasting for monetary policy making and communication at the Bank of England: A review’, which had been led by former Federal Reserve Chairman, Ben Bernanke. A list of the main recommendations and reactions from prominent UK macroeconomists.

Tech

AI adoption trends

Recent data reveals surprising insights into the global landscape of AI adoption, highlighting the leading countries, the distinctive characteristics of firms that use AI, and other notable trends.

Books

New and noteworthy books in economics (April)

For this month, we have selected four thought-provoking books that delve into the intricate realms of economic theory, the interplay of money and politics, the evolving landscape of digital capitalism, and a contemplative exploration of economics within the framework of a just and equitable society.

Monetary Policy

Assessing the recent quantitative tightening

A new research paper analyzes the experience  of quantitative tightening in seven advanced economies.

Climate

The politicization of climate change

Do natural disasters lead to a convergence in climate change beliefs and an increase in green investments? Is the aftermath of a natural disaster the right time to build consensus on climate action?

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