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This is the edited transcript of our interview with Paul Romer, on why the US urgently to scale up testing for Covid-19, why he thinks the covid-crisis amounts an intellectual failure, why this economic crisis is not as bad the Great Depression, what economics can do more, and what economists can learn from the crisis.
In an exclusive interview with EconReporter on Tuesday, Romer, co-recipient of the 2018 Nobel Prize in Economics Science, urged the US to adopt large-scale testing immediately to halt this most detrimental economic slump ever since the Great Depression in the 1930s.
What if I tell you, behind the boring news headline, there is actually a wonkish story about how the Hong Kong central bank took advantage of the monetary easing by the Fed in the last 12 year and created a new set of policy options that it can now use to actively mange the inflows created by the new round Fed easing under the Great Lockdown.
Hong Kong Monetary Authority, the de facto central bank of Hong Kong, announced on April 22 that it will utilize the Fed's FIMA Repo facility to borrow USD 10 billion of cash.
The G7 finance ministers and central bankers held a call to discuss the coronavirus, but the statement doesn't provide any surprise to investors.
Luis de Guindos, vice president of the European Central Bank, depicted the coronavirus as an additional " layer of uncertainty to global and euro area growth prospects,"
“The money helicopter has arrived,” Claire Jones writes in her FT Alphaville post, citing Hong Kong Finance Secretary’s announcement of a handout of HKD...
Macroprudential policies, it is argued, are more targeted and can complement central bank’s use of interest rate policy.
ECB recently conducted a survey asking 58 leading non-financial companies that operate across the euro area in eurozone their price-setting behaviors, the results provide a helpful dataset for macroeconomists’ use.
George Akerlof explains how the Keynesian- neoclassical synthesis dominated the field, and what problems this dominance resulted.