inflation
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The Inequality of Recession
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The public perceives recessions simply as a sign that the economy is “bad.” However, many policymakers continue to define recessions as “two-quarters of negative gross domestic product.” This outdated definition implies that policy responses could take more than six months to even begin addressing a downturn. The National Bureau of…
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Argentina Reborn: A Tale of Two Finance Ministers
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After more than a decade of stagnation, unsustainably high inflation, fiscal irresponsibility, and profound market distortions, Argentina’s newly appointed Minister of Economy forged ahead with an ambitious plan to restore currency stability, trust, and prosperity. This was evident in December 2023, when Minister Luis Caputo announced the wide-ranging reform package…
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The Economics of a Wealthy Academy
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There are countless examples of economists disregarding survey data in which a representative sample concludes that the American economy is concerning, generally countering with some favorable economic figure. Although the data can be noisy, metrics poorly calibrated, samples biased, and respondents irrational, there is also the possibility that these two…
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Inflation: Moving Beyond a Basket of Goods
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Two topics dominate discussions of both the current state of the economy and the political environment in the run-up to the 2022 midterm elections: how can policymakers fight inflation and is the economy currently in a recession? Like everything else today, COVID-19 plays a role in the answers to both…
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Does Personal Experience Affect Monetary Policy Decisions?
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Will the central bank in the United States reduce or maintain the current interest rate? Do statements made by the Board Chair suggest a possible increase in the interest rate? What is the central bank´s forecast for inflation and employment in the medium-term? Every day, international financial markets are highly…
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Fiscal Policies and Full Employment: An Interview with Jared Bernstein
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Insights from a Senior Fellow at the Center on Budget and Policy Priorities.