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Uneven shocks

Two new research papers on uneven shocks and monetary and fiscal policies, presented during the August 27th Jackson Hole conference.

Monetary Policy

On macroprudential space

The use macroprudential policy during COVID.


New and noteworthy books in economics (August)

For this month we have picked four books: on how inequality revives political conditions we thought we had moved beyond;  on the internationalization of renminbi; and finally two books on central banks during times of crisis.


The effectiveness of international climate-change agreements

As COP26 (UN Climate Change Conference) is approaching a look at previous international agreements, their impact on Greenhouse-gas emissions and the national economies.


The economics of vaccines

Can vaccine passports  reduce hesitancy? What are the economic costs of inequitable global vaccine distribution.

Monetary Policy

Housing costs and inflation in the Eurozone

The inflation index the ECB currently uses does not include the cost of “Owner-Occupied Housing.” Is inflation understated?


Housing and climate change

Does climate risk affect housing prices?  Is the risk of mortgage defaults due to climate change borne by lenders?


Housing post-COVID

Some housing markets have become frothy. How has COVID affected house prices? Which effects are transitory?

Monetary Policy

Anchored expectations and the Phillips curve

Do firmly anchored expectations contribute to the flattening or steepening of the Phillips curve in the U.S.?


Economics and happiness

Happiness level in 2021, by country. Easterlin defends his paradox.

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