Economics

Atif Mian, co-author of House of Debt, discusses what he thinks are the "revolutionary" changes in macroeconomic academia since the Great Recession.

Reserve Management Purchases (RMP) is a form of open market operations under which the Federal Reserve injects reserves into the banking system through "permanent" asset purchases with an aim to ensure the level of reserves remain "ample".

The Swiss sovereign-money referendum, also known as the Sovereign-Money Initiative, which aims to creates a safe and crisis-free, yet experimental, banking system in Switzerland will be held on 10th June.

Inflation projections by Fed officials show that PCE inflation will not reach 2% by the end of 2025. Why the Fed expects to cut rate next year then?

A careful study of Hong Kong's currency peg that explain why the current low-interest rate environment can be interpreted as a result of the Hong Kong Monetary Authority's policy choice.

Branko Milanovic discusses whether the study of inequality can be considered as part of macroeconomics and how should macroeconomists incorporate his idea of Kuznets Waves into their models.

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.

In this installment, we continue our discussion with Prof. Charles Calomiris, Henry Kaufman Professor of Financial Institutions at Columbia Business School. The topic of this installment is the missing role of politics in economics models of banking crises. We also discussed if Calomiris thinks macroeconomics has a similar problem.

In this interview, Prof Christiano shared his view on the development of post-2008 academic macroeconomics. We’ve asked Prof Christiano does he agree that modern macroeconomic models are too complicated for the general public, or even policymakers and if he agrees that economic models should be “simpler”. Does he think the recent revival of ISLM model a “good trend”? Should Macroeconomists hang on their faith in DSGE models? Should they explore alternative paths?

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