Economics

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.

In a recent NBER working paper "Monetary Policy Communications and their Effects on Household Inflation Expectations", economists Olivier Coibion, Yuriy Gorodnichenko and Michael Weber tried to find out how the household's expectation for inflation change with regard to the information they received.

The floor system needs a cap on top of it. The sooner the Fed realizes it, the better they will be prepared for the coming financial turmoil.

In recent months, the Global Economic Policy Uncertainty index has risen to a level much higher than periods around the 911 Terrorist Attack or the 2008 Financial Crisis, hence the conclusion that the economic policy is unprecedently uncertain now. But here is why you might not have to worry.

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.

Federal Reserve announced yesterday that it will start purchasing Treasury bills from Oct 15 (Tuesday) until at least the second quarter of next year.

John Cochrane talks about Fiscal Theory of Price Level and how can we apply this theory on the current macroeconomy.

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?

George Akerlof explains how the Keynesian- neoclassical synthesis dominated the field, and what problems this dominance resulted.

In a new working paper "The Non‐Bank Credit Cycle", researchers Esti Kemp, René van Stralen, Alexandros Vardoulakis, and Peter Wierts tried to look into the cyclical properties of non‐bank credit and its relevance for financial stability.