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Monetary Policy


How are bubbles affecting the economy and the banking sector.

Economic Growth

Repairing fiscal multipliers

Two new research papers on how to correct the high estimates of fiscal multipliers in New-Keynesian models at the zero bound.

Economic Growth

Warning signs from the US economy

The uncertainty indexes have shot up and the yield curve is flattening. Is the US heading towards a recession?


Why are wages not increasing?

New research on how rising concentration in labor markets, caused by a decrease in the number of employers competing for workers, has led to suppression of wages both in the US and Europe.

Monetary Policy

Monetary base injections

Permanent versus temporary monetary base injections and their impact on the economy at the ZLB.

Monetary Policy

Uncertainties about balance-sheet policy

Are large scale asset purchases an effective instrument of monetary policy?


New and noteworthy books in economics (February)

Three new books on Tawney and Polanyi, wasteful education and everyday metrics.


Mavericks on trade

The case against trade agreements.

Monetary Policy

On central banks

Athanasios Orphanides of MIT on central banks and democratic legitimacy. A new working paper on whether central banks respond promptly to global economy developments.

Financial Markets

October 1987?

The similarities between the stock market crash in October 1987 and the one that occurred last week.

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