Economics

Gauti B. Eggertsson, Manuel Lancastre, and Lawrence H. Summers explain in their paper "Aging, Output Per Capita and Secular Stagnation" the role of aging in the Secular Stagnation model.

A story about three economists agree with the prevailing consensus that the Phillips Curve of the US is flattened in the last few decades on the one hand; and dispute the idea that the Phillips Curve is dead on the other.

In a recent study "Bank Equity and Banking Crises" by Matthew Baron (of Cornell University), Emil Verner (MIT Sloan), and Wei Xiong (Princeton University), the three economists developed a comprehensive database of bank equity prices and banking crises with a full-sample of 46 countries from 1870-2016. They try to understand the dynamic between bank equity decline and banking crises.

This is the eighth installment of our interview series “Where is the General Theory of the 21st Century?” In this installment, we continue our talk...

Rodrik explained why good economists think in terms of models, and what are major differences between models and theory. He also told us why macroeconomists' quest to find "the one true model" on the business cycle is probably misguided.

Ricardo Reis, economics professor at the London School of Economics, explained that there were telling signs that the increase in cost of living started ealry-2021 was not a "transitory" phenomenon.

The Fiscal Theory of the Price Level says that money has value because the government accepts it for taxes, and inflation is fundamentally a fiscal phenomenon

This is the second installment of our interview series "Where is the General Theory of the 21st Century?". In this second installment, we continue...

According to the data shown in the Congressional Budget Office‘s latest The Budget and Economic Outlook: From 2019 to 2029, there are $15.8 trillion US federal debt held by the public at the end of 2018.

What the impact of asset price bubbles on US economic growth is.