Economic Policy Uncertainty in Turkey
The latest addition to the Economic Policy Uncertainty index (EPU). This time is on Turkey, the country who's economy is negatively impacted by policy uncertainty in 2018.
Rajan on what “New Rule for Monetary Game” actually means
Raghuram Rajan, former Governer of Reserve Bank of India and now Professor of Finance at Chicago Booth, visited Hong Kong and gave a keynote speech in Asian Financial Forum last week. I am lucky...
The problem with monetarist’s view of inflation
Long-run stability of the velocity, or the filpside of it, money demand, however, is not a empirically founded assumption.
Integrating Psychology with Economics | Q&A with Hersh Shefrin & Shlomo Benartzi
This weekend is a big one for behavioral economics. This morning, Richard Thaler, laureate of The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2017, has presented his prize lecture "Integrating economics with psychology" in The Royal Swedish Academy of Sciences. And this Sunday will be the Nobel Prize Award Ceremony, Prof. Thaler will finally the well-deserved Nobel prize.To celebrate this occasion, I am honored to share with you my interview with two of the best co-authors of Prof. Thaler --- Hersh Shefrin and Shlomo Benartzi.
Paul Romer is worried about Macroeconomics… and what others think about his worries…
Paul Romer's latest paper "The Trouble with Macroeconomics" is definitely one of the hottest topic in the economics blogosphere. The central message is that Romer thinks the state of Macroeconomics has been going backward...
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...
Crashes and Rebounds in Housing Markets
The focus of the research is to find out if there is any "predictable" pattern following housing "bubbles".
IMF Growth Projections and Overfitting in Judgment-based Economic Forecasts
In a recent IMF working paper "Overfitting in Judgment-based Economic Forecasts: The Case of IMF Growth Projections", economist Klaus-Peter Hellwig examined IMF's World Economic Forecasts (WEO) and check if the forecast model suffer from the problem of overfitting.
The Missing Profits of Nations and Multinationals’ Extreme Profitability in Tax Havens
The economics of tax evasion is a growing field in academic economics. There are much new exciting research trying to understand the mechanism behind global tax evasion. "The Missing Profits of Nations” by Thomas R. Tørsløv, Ludvig S. Wier and Gabriel Zucman is one of the most noteworthy research on the dynamic behind global tax evasions.
What is Hysteresis?
Hysteresis is referred to the hypothesis that recessions may have permanent effects on the level of output relative to trend.