Why did God create economists? To make weather forecasters look good.
- When HANK met SAM: New models for macroeconomic policy (VOX): Recent economic events cast doubt on the standard macroeconomic models. This column looks at new economic models built on the idea that inequality and income risk matter for the business cycle and long-run outcomes. While still in their infancy, these models show promise in addressing the concerns about the old New Keynesian models, and in bringing about a shift in the way that macroeconomists think about aggregate fluctuations and stabilisation policy.
- Private Equity: Let's Get Flexible (Bloomberg)
- Measuring the economic effects of uncertainty (Econbrowser)
- 2017: WHAT SCIENTIFIC TERM OR CONCEPT OUGHT TO BE MORE WIDELY KNOWN? (Edge)
- Immigration and economic prosperity (VOX): Rapidly ageing populations, the refugee crisis, and growing anti-immigration rhetoric have brought immigration issues to the forefront recently. Using a panel of 18 countries, this column explores the long-term effects of migration on receiving advanced economies’ GDP per capita and labour productivity. Both high- and low-skilled migrants are found to raise productivity and GDP, and these gains appear to be broadly shared across the population.
IV. We can recycle everything we use, including cigarette butts and toothbrushes. So why don’t we? (WEF):