Economics

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?"

Welcome to the latest installment of our interview series “Where is the General Theory of the 21st Century?” “Where is the General Theory of the...

A new working paper from the IMF which tries to assess the impact of media sentiment on equity markets.

Edited transcript of our interview with Paul Romer, on why the US urgently to scale up testing for Covid-19 and why he thinks the covid-crisis amounts an intellectual failure

Ben Bernanke has a new blog post on Brookings. The focus of the post is to explain "the large difference between the reactions of the Fed and the markets to the change in fiscal prospects since the election"

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

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

An ECB survey found that the retailers review and change their prices most often, while consumer and business service firms adjust their pricing the least often. Firms in the manufacturing sector, meanwhile, have a price adjustment frequency somewhere in between the above sectors

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.