Economics

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

Hysteresis is referred to the hypothesis that recessions may have permanent effects on the level of output relative to trend.

The above figure shows the balance sheet of four major central banks from 2005 to 2015. Above the horizontal axis is the asset side of the balance sheet, below is the liability side. All...

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"

In his latest Brookings blog post "Modifying the Fed’s policy framework: Does a higher inflation target beat negative interest rates?", Ben Bernanke compares two policy tools central banks can use to stimulate the economy...

Nothing would make us more proud than seeing intelligent and informed people discuss the ideas we have put forth in the interview series. So it is our great honor to know that there is...

Peter Praet, Executive Board Member of the ECB:Central to this debate is whether the slow growth can be attributed to cyclical – and hence ultimately transitory – factors related to the financial crisis,...

Olivier Blanchard a list of things that macroeconomists normally agreed on and need no further discussions.

When President Trump decided to nominate Jay Powell instead of Janet Yellen to be the next Federal Reserve Chair, my mind was full of interesting questions on how this decision impacts the institution of the Fed. In my opinion, one of the best experts to answer my question would be Peter Conti-Brown, assistant professor at The Wharton School of the University of Pennsylvania and author of one of the best book about the institution of Fed --- "The Power and Independence of the Federal Reserve".