Blogs&Reviews

  • The effects of the ECB’s new inflation target on private households’ inflation expectations

    Mathias Hoffmann, Emanuel Moench, Lora Pavlova, Guido Schultefrankenfeld, 20 December 2021

    New survey results from the Bundesbank Online Panel Households (BOP-HH) show that the ECB's new inflation target is associated with moderately higher inflation expectations for the next two to three years. 

  • The ECB’s tools: Transparency is needed

    Lucrezia Reichlin, Klaus Adam, Warwick J. McKibbin, Michael McMahon, Ricardo Reis, Giovanni Ricco, Beatrice Weder di Mauro, 03 December 2021

    This blog replies to Rafael Repullo’s comment on CEPR's recent report on the ECB. The authors clarify that there is little to no disagreement. Most of what is in the comment coincides with what is in the report, using different words. Where disagreements exist, they reflect different views on the importance of transparency in communication of both strategy and future policy.

  • Rafael Repullo comments on some recommendations and statements on the tools of monetary policy at the ECB from the recent CEPR report on the central bank's strategy.

  • A primer on (UK) inflation

    David Blanchflower, 15 November 2021

    David Blanchflower explains why it is most likely the jump in inflation in the UK will dissipate

Other Recent Blogs&Reviews:

  • Ashoka Mody, 08 June 2018

    Social democracy bears a dual promise: domestic social justice and European unity. Reviewing Germany’s Social Democratic Party (SPD) and its post-WWII struggles, Ashoka Mody illustrates the difficulty in translating social democratic values into political practice. Unable to generate a domestic consensus and powerless to counter the priorities dictated by the euro, social democracy will continue to fail at home while divisions among EU nations deepen.

  • Jason Furman, Wilson Powell, 08 June 2018

    The fraction of Americans employed fell between 2007 and 2017, during which time employment rates rose in many other advanced economies despite these countries also facing a similar headwind of an ageing population. In this post, Jason Furman and Wilson Powell show how the biggest driver of this was employment among women, which stagnated in the US while increasing in most of the other advanced economies.

  • Simon Wren-Lewis, 07 June 2018

    Brexiters have come up with various reasons for not staying in the Customs Union. In this post, Simon Wren-Lewis argues that none of these reasons stands up to scrutiny. He also argues that Prime Minister Theresa May should have realised right away that the Brexit people voted for – taking back control and being at least no worse off in economic terms at the same time – was an impossible project, and that this realisation should have governed how she approached Brexit from the start. 

  • Roger Farmer, 07 June 2018

    That idea that, in the immortal words of Gordon Gekko, “greed is good” is encapsulated in the first welfare theorem of economics which explains why markets, most of the time, work well. Selfish behaviour by people seeking to improve their own lives will, inevitably, improve the lives of everyone else on the planet.  In this post, Roger Farmer asks why that idea doesn’t apply also to the financial markets.

  • Pascal Lamy, 06 June 2018

    Although recent developments have challenged the established liberal consensus on globalisation, in this post Pascal Lamy argues that this process is set to continue due to the technological forces underpinning its evolution. While there is rising political opposition in light of increased inequality, undoing the current levels of economic integration will not be easy and strictly national solutions will be insufficient. In this context, Europe needs to unite around its social market model and project its values more strongly in the world.

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