Macroeconomics

Can MMT save AI from catastrophe? John Alt A chief criticism of Modern Monetary Theory (MMT) is that it is inherently inflationary. The simple logic…

The post Can MMT save AI from catastrophe? appeared first on Economic Reform Australia.

Wealth taxes don’t go far enough: Let’s transform our economy with public money Sheridan Kates Wealth taxes are crucial to build an economy that works for…

The post Wealth taxes don’t go far enough appeared first on Economic Reform Australia.

Edward Egan Headlines warn of a looming ‘jobpocalypse’, but the reality is more complex. Rather than simply causing a wave of job losses, the economic literature suggests generative AI could influence the labour market through several – potentially offsetting – channels: productivity gains, job displacement, new job creation, and compositional shifts. The balance between these … Continue reading Generative AI: degenerative for jobs? →

From neoclassical economics to the masking of it with New-Keynesian economics Tyrone Keynes Economists often begin by making assumptions that bear little resemblance to reality.…

The post From neoclassical economics to the masking of it with New-Keynesian economics appeared first on Economic Reform Australia.

Ludovica Ambrosino, Jenny Chan and Silvana Tenreyro Macroeconomic Environment Theme The Bank of England Agenda for Research (BEAR) sets the key areas for new research at the Bank over the coming years. This post is an example of issues considered under the Macroeconomic Environment Theme which focuses on the changing inflation dynamics and unfolding structural … Continue reading Trade fragmentation and inflationary pressures →

Christoph Herler and Philip Schnattinger Macroeconomic Environment Theme The Bank of England Agenda for Research (BEAR) sets the key areas for new research at the Bank over the coming years. This post is an example of issues considered under the Macroeconomic Environment Theme which focuses on the changing infaton dynamics and unfolding structural change faced … Continue reading How does lower inflation uncertainty affect households’ financial behaviour? →

The heart of mainstream economics Jim Byrne You need assumptions to build useful economic models – but those assumptions should not influence the results. I…

The post The heart of mainstream economics first appeared on Economic Reform Australia.

DeLong steps in it The efficient market hypothesis Peter Radford This is a second stab at a question that vexes me … I have been…

The post DeLong steps in it The efficient market hypothesis first appeared on Economic Reform Australia.

Further thoughts on John Alt’s article Editor It might be helpful to recognise that Premise #2 is a good basis for describing the financial operations…

Julia Giese and Jacqueline Koay We live in an era of rapid change, complexity and uncertainty. Over recent years, severe global shocks have been frequent, with profound implications for our economy and financial system. Yet such shocks are impossible to forecast with any precision as they are not extrapolations of past relationships. Our economy and … Continue reading Once upon a time in the future: strategic foresight in central banks →