Blogs&Reviews

  • Joshua Meltzer argues that the Trump administration has failed to provide a coherent vision for maintaining and expanding US competitiveness in the 21st century, including through its trade policy.

  • Is the EU ready to truly apply the subsidiarity principle?

    Roel Beetsma, George Kopits, 15 June 2020

    Roel Beetsma and George Koptis argue there is a strong legal and economic case for a timely application of the subsidiarity principle in establishing a permanent EU-wide countercyclical facility.

  • Lubos Pastor suggests that the easiest way for central banks to deal with COVID-spawned debt may be tolerate above-average inflation.

  • The independence of the central bank at risk

    Peter Bofinger, Martin Hellwig, Michael Hüther, Monika Schnitzer, Moritz Schularick, Guntram Wolff, 08 June 2020

    The authors of this blog are concerned that the recent judgement of the German Federal Constitutional Court on the ECB's monetary policy undermines the constitutional basis of the independence of the central bank and its price stability mandate.  

Other Recent Blogs&Reviews:

  • Roger Farmer, 13 June 2018

    In the New Keynesian model, the connection between the unemployment rate and the inflation rate is driven by the Phillips curve. In this post, Roger Farmer proposes replacing the Phillips curve with a belief function, an alternative theory of the connection between unemployment and inflation that better explains the facts.

  • Livio Stracca, 13 June 2018

    Knowledge of central banks is limited among households, who are also often found to have beliefs that are inconsistent with the foundations of the models underpinning modern monetary policy, such as the fact that higher interest rates lead to lower inflation. In this post, Livio Stracca describes the implications of this fact and summarises a new book that tries to popularise modern central banking for a wider audience.

  • Jeffrey Frankel, 12 June 2018

    Not long after having said that the China trade war was “on hold”, the Trump administration flipped the switch back to “on”. In this post, Jeffrey Frankel analyses Trump’s actions and asks whether his approach to trade can be explained.

  • Simon Wren-Lewis, 12 June 2018

    In the wake of the ‘Windrush generation’ row, Simon Wren-Lewis argues that the 2010 UK coalition government’s focus on immigration with the ‘tens of thousands’ target was a deceit because most of the government had no intention of achieving that target. Part of the facade of trying to hit that target was the hostile environment policy.

  • Nikolaus Wolf, 11 June 2018

    With protectionism back on the political agenda, the European Review of Economic History has published a selection of papers demonstrating how trade and welfare policies have always been related. As Nikolaus Wolf discusses in this post, the papers also show that while the wider economic benefits from protectionism are uncertain at best, 100 years ago domestic policy considerations were already often trumping international cooperation.

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