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On high public debt

Why high levels of public debt are here to stay and the implications on the fiscal-monetary policy mix.

Monetary Policy

Contractionary monetary policy and innovation

Two recent studies, one empirical and one theoretical, explore the impact of a monetary shock on R&D investments and productivity.


China’s slowdown: how bad is it?

Why views vary so widely?


The effects of protectionism

How does protectionism affect welfare and the role of dollar as a reserve currency?


New and noteworthy books in economics (August)

We have selected three books that provide an incisive look at the unequal effects  of globalization, at the efficiency of macroprudential policies so far, and at what happens when few institutions exert outsized influence over the politics and economy of a nation. The fourth book is a collection of Becker’s unpublished writings.

Monetary Policy

Monetary policy through the years

How have central banks used their balance sheets during the last 400 years? An interesting framework to evaluate central bank performance from a historical perspective!

Ukraine-Russia War

Russia and the global wheat market

On July 17, 2023, Russia announced that it would not renew the Black Sea Grain Initiative which had ensured the safe passage of food commodities from Ukrainian ports. What will be the impact on food prices and food security?

Monetary Policy

Monetary policy and fiscal sustainability

New research on how fiscal dominance impacts price stability and how unconventional monetary policies impact fiscal sustainability.


Does divestment work?

The prevailing belief is that divestment policies to address climate change are for the most part ineffective. Interesting new research shows that the impact of both  divestment campaigns and banks’ divestment policies is actually quite large.


Rethinking industrial policy (Part B)

As economists are re-thinking industrial policy, the critics raise more concerns.

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