Category: Macro
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“Laffering”*
Arthur Laffer, the economist behind the Laffer curve, is about to receive the Presidential Medal of Freedom. Many economists wonder whether the theory is sound.
Productivity and access to credit
Access to credit affects productivity growth in a non-linear way.
Revisiting the Phillips curve
New research on a) the nonlinearity of the Phillips curve; and b) ways to improve the Phillips curve.
Informality and emerging economies
Does the informal labor market buffer the economy from negative shocks? Does it stabilize inflation?
On collective agreements
Collective bargaining in Italy and Germany: what are the differences?
Identification via the ZLB
Can the Zero Lower Bound (ZLB) on interest rates be used to identify the causal effects of monetary policy?
Fiscal multipliers and the American Recovery and Reinvestment Act
What were the effects of the 2009 US government fiscal spending called the American Recovery and Reinvestment Act? Did the way it was financed matter?
Functional Finance
The doctrine behind MMT is smart but not completely right, argues Paul Krugman. Not so, responds Matias Vernengo.
A new and improved Phillips curve!
What is the expectations-augmented Phillips curve predicting about inflation in advanced economies.