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:

  • Jonathan Dingel, 31 May 2018

    Inferring tradability is hard. In this post, Jonathan Dingel reviews papers that explore predictions of tradable and non-tradable industries and activities.

  • Simon Wren-Lewis, 30 May 2018

    Macroeconomics gave up on trying to explain recent macroeconomic history, or, why the economy did what it did over the last 30 or 40 years. In this post, Simon Wren-Lewis argues that it is time that macroeconomics revisited the decisions it made around 1980, and realise that the deficiencies with traditional time series analysis were not as great as they were made out to be.

  • Jon Danielsson, 30 May 2018

    Volatility is only a good measure of risk when shocks are distributed normally. This post argues that extreme value theory offers a better, if imperfect alternative. Even better would be to use more fundamental analysis.  

  • Thorsten Beck, 29 May 2018

    The main tension between London and Brussels seems to stem from a fundamentally different approach: for the UK government, Brexit is a political process; for the European Commission, a legal-administrative process. Thorsten Beck reviews the current situation and concludes that the political class in the UK has failed its population.

  • Roger Farmer, 29 May 2018

    So-called experts make predictions about prospects for UK after Brexit as if we can plan for the future using known statistical probabilities, but no one knows what the consequences will be relative to staying in the EU in 15 years’ time. The one thing that will get us into trouble, though, is being ‘sure’ about predictions that might be plain wrong.

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