Thursday, November 26, 2020

EconReporter

Exploration in Economics by a non-expert

What is Hysteresis?

Hysteresis is referred to the hypothesis that recessions may have permanent effects on the level of output relative to trend.

Central Bank’s Balance Sheet and the Rise of Reserves

The above figure shows the balance sheet of four major central banks from 2005 to 2015. Above the horizontal axis is the asset side of the balance sheet, below is the liability side. All...

Why Negative Rate is a better policy tool to Higher Inflation Target? Bernanke Explains…

In his latest Brookings blog post "Modifying the Fed’s policy framework: Does a higher inflation target beat negative interest rates?", Ben Bernanke compares two policy tools central banks can use to stimulate the economy...

ECB’s Praet on Eurozone’s Secular Stagnation

Peter Praet, Executive Board Member of the ECB:Central to this debate is whether the slow growth can be attributed to cyclical – and hence ultimately transitory – factors related to the financial crisis,...

Cochrane responds to Sumner’s discussion on inflation stabilization regimes

Nothing would make us more proud than seeing intelligent and informed people discuss the ideas we have put forth in the interview series. So it is our great honor to know that there is...

Secured and Unsecured Debt Over the Business Cycle

Filed this one under Does Debt have a role in Marco of the 21st Century? Azariadis, Kaas, and Wen (2015) first decomposed total corporate debt into secured and unsecured debt to study the relationship between...
Where is the General Theory of the 21st Century Cover

What Macroeconomists seems to agree with each others… according to Blanchard

After a round of hot debate on the problem of DSGE model and the trouble of macroeconomics initiated by Paul Romer, heavyweight macroeconomist Olivier Blanchard comment on the usefulness of DSGE model, again.[getty...

Why Yellen should stay as Fed Governor? | Q&A with Conti-Brown

When President Trump decided to nominate Jay Powell instead of Janet Yellen to be the next Federal Reserve Chair, my mind was full of interesting questions on how this decision impacts the institution of the Fed. In my opinion, one of the best experts to answer my question would be Peter Conti-Brown, assistant professor at The Wharton School of the University of Pennsylvania and author of one of the best book about the institution of Fed --- "The Power and Independence of the Federal Reserve".

#WITGT21 Paragraph of the Day 

By Simon Wren-Lewis:What is hardly ever said, so I make no apologies for doing so once more, is that macroeconomic theory has in some ways ‘had a good crisis’. Basic Keynesian macroeconomic theory says...