“Helicopter money” – reality bites

Commentary by Mr Claudio Borio, Head of the Monetary and Economic Department of the Bank for International Settlements, and Mr Piti Disyatat, Executive Director of the Puey Ungphakorn Institute for Economic Research, Bank of Thailand, in Nikkei Asian Review, published on 4 September 2016. Since the Great Financial Crisis, central banks in the major economies have…

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Climate Change is Costly; Serious Climate Policy is a Bargain

Climate Change is Costly; Serious Climate Policy is a Bargain Brian Deese, Jason Furman White House Blog, January 12, 2017     As the climate changes, global economic output will fall, but most of those economic damages can be avoided with smart policy. As the President wrote this week in the journal Science, the last…

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Thoughts on Proposed Corporate Tax Reform

Thoughts on Proposed Corporate Tax Reform Stephen G. Cecchetti and Kermit L. Schoenholtz Money & Banking, January 09, 2017       “We teach our students that […] the benefits of a simpler, more easily administered tax system that treats different forms of income more equally may well rise as our need for revenue rises.…

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Monetary Policy and Inequality

Monetary Policy and Inequality Pedro Amaral Cleveland Fed,01.10.17         This Commentary examines the link between monetary policy and income and wealth inequality by reviewing the theoretical channels that have been proposed and examining the empirical evidence on their importance. The analysis suggests that the magnitude of any redistributive consequences of conventional monetary…

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Eight Years of Labor Market Progress and the Employment Situation in December

Eight Years of Labor Market Progress and the Employment Situation in December Jason Furman, Chairman of the Council of Economic Advisers White House blog, JANUARY 6, 2017           Employment grew at a solid rate of 156,000 jobs in December as the longest streak of total job growth by far on record…

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