Andrew Powell, 24 November 2017

The recent interest rate rise in the UK occurred despite negative economic news. This is not what conventional inflation-targeting policy would imply. This column argues that recent Latin American experience suggests the theory underlying inflation targeting may need to be reconsidered. Specifically, for small open economies, the role of the exchange rate and inflation expectations should be considered when deciding how to react. 

John Haltiwanger, Henry Hyatt, Erika McEntarfer, 11 September 2015

People tend to build their careers through job-hopping. This column adds to our growing understanding of how these job-to-job flows translate into enhanced productivity and earnings gains. Using new data, an analysis of the nature and extent of these flows by firm size and firm wages over the cycle shows that, during labour market downturns, workers tend to stay for longer on lower-paying, less productive rungs of the job ladder.

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