Category: Macro
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On corporate taxes and investments
New research using novel methods estimates the effect of both corporate tax hikes and cuts on investments, R&D and productivity.
On sovereign debt
When is developing country debt odious? What are the effects of debt-financed fiscal transfers in a general equilibrium, heterogeneous-agent model of the world economy?
Housing prices and inflation
Are housing prices a leading indicator for inflation? Do house prices adjust to monetary surprises with a long lag?
Heterogeneous beliefs, new pricing models and the Phillips curve
Two new research papers evaluate the impact on the Phillips curve from incorporating a a) distribution of heterogeneous beliefs; and b) price changes that are endogenous and depend both on the state of the economy and the state of the firm.
The return of the Beveridge curve
Brand new research on the importance of the Beveridge curve (the relationship between unemployment and the job vacancy rate) in understanding the true state of the U.S. labor market and implications for monetary policy.
High energy prices and the macroeconomy
New research on the impact of high energy prices on the European and U.S. economies.
Ambiguity in macroeconomics
New research on how including ambiguity-averse agents in New Keynesian models impacts monetary policy effectiveness and generates first order welfare losses.
How to develop economic resilience
Should the focus be on resilience by design or by intervention? Should policymakers optimize public policy under radical uncertainty?
On the global minimum tax
Does the global minimum tax increase welfare? Is it equitable when it comes to low and middle income countries?