Economics

Or, to frame the question in a more technical way: is tipflation even counted as part of Consumer Price Index (CPI) inflation?

If you think the interest rate gap between Hong Kong and US is a market phenomenon, think again. HK Monetary Authority has a much bigger role than you think

The Saturated Level of Reserves or efficient level of reserves, is the point which the opportunity cost for banks to hold reserves disappears, and became indifferent towards holding more reserves. The reserve demand curve beyond this point becomes close to horizontal.

The faster the credit growth, the worse it is for real growth (output per worker). This is what Stephen G. Cecchetti and Enisse Kharroubi want to explain in their NBER working paper "Why Does Credit Growth Crowd Out Real Economic Growth?"

In this installment of the interview, Professor Mian explains the major findings in his recent research paper "Household Debt and Business Cycles World Wide" and the important implications of that paper.

Quantitative tightening (QT)—a process central banks use to reverse years of liquidity creation from quantitative easing (QE)—is concluding in many advanced economies. The central banks are growing confident that reserve levels in their financial systems are nearing their endpoints. Where are the endpoints of QT and what come next?

A standard perception of PPI is that it is a measure of "wholesale inflation", but the BLS told EconReporter that this interpretation of PPI is not at all correct.

In their working paper "A Skeptical View of the Impact of the Fed's Balance Sheet," economists David Greenlaw, James D. Hamilton, Ethan Harris, and Kenneth D. West challenge some earlier studies that concluded QEs have a significant economic impact. Their major argument is that those research used simple event studies to quantify the impact of QE.

The honorable guest for this installment is Joseph E. Gagnon, senior fellow at Peterson Institute for International Economics (PIIE). We discussed one of his latest research paper "Unconventional Monetary and Exchange Rate Policies" and the new book he coauthored with C. Fred Bergsten, "Currency Conflict and Trade Policy: A New Strategy for the United States". Gagnon also shared his view on the very popular "Global Financial Cycle" ideas.

The payment on reserve process proposed by Robert Hall and Ricardo Reis is a way of remunerating reserves which would give the central bank...