In New Keynesian models, a promise to hold interest rates lower in the future has powerful effects on economic activity and inflation today. This result relies on a strong link between expected future policy rates and current activity, and also a belief that the policymaker will make good on the promise. This column argues that a tension between both of these creates a paradox – the stronger the e
Which programming language is best for economic research: Julia, Matlab, Python or R? The most widely used programming languages for economic research are Julia, Matlab, Python and R. This column uses three criteria to compare the languages: the power of available libraries, the speed and possibilities when handling large datasets, and the speed and ease-of-use for a computationally intensive task
The COVID-19 pandemic is having immediately visible effects on economic activity. The rapid contraction in economic activity, the collapse of trade, and the dramatic increase in the unemployment rate are without precedent. However, pandemics also have less well-understood, longer-run effects on the natural rate of interest – a critical economic barometer and policy marker. This column reveals how
Olivier Blanchard Fred Bergsten Senior Fellow Peterson Institute for International Economics (PIIE) On 15 and 16 April 2015, the IMF hosted the third conference on “Rethinking Macroeconomic Policy”. I had initially chosen as the title and subtitle “Rethinking Macroeconomic Policy III. Down in the trenches”.1 I thought of the first conference in 2011 as having identified the main failings of previo
Richard Baldwin Professor of International Economics IMD Business School, Lausanne; VoxEU Founder & Editor-in-Chief VoxEU.org Fellow, International Trade and Regional Economics & 1 more / VoxEU Editor in Chief Teaser from original column posted on 15 August 2014 Six years after the Crisis and the recovery is still anaemic despite years of zero interest rates. Is ‘secular stagnation’ to blame? This
Benjamin Mandel and Geoffrey Barnes 「予想インフレ率を測る新たな指標 ~日本の予想インフレ率の動きを辿る~」 Benjamin R. Mandel and Geoffrey Barnes, “Japanese Inflation Expectations, Revisited”(Liberty Street Economics, April 22, 2013) 金融政策がその仕事を果たしている(成功している)かどうかを測る重要な指標の一つは、インフレ期待を安定化させる(インフレ期待にアンカーを与える)中央銀行の能力である。なぜなら、インフレ期待は実際のインフレの動向に影響を及ぼすからであり、それゆえ(中央銀行に課せられた)インフレ目標が達成されるかどうかを左右することになるからである。このことは特に日本経済に関して重要な意味合いを持っている。日本では19
リリース、障害情報などのサービスのお知らせ
最新の人気エントリーの配信
処理を実行中です
j次のブックマーク
k前のブックマーク
lあとで読む
eコメント一覧を開く
oページを開く