The Global Financial Crisis of 2008-09 and the evolving crisis in Europe raise many intriguing questions regarding the long-term response to crises. Households that lost access to credit, were forced to adjust and increase saving.
Public and private saving and the long shadow of macroeconomic shocks
Joshua Aizenman, Ilan Noy, 29 May 2013
What have the economists ever done for us?
Andrew G Haldane, 1 October 2012
This column is a lead commentary in the VoxEU Debate "What's the use of economics?"
Professor Christopher Sims wins Nobel Prize for Economics
Toshiaki Watanabe, 29 November 2011
In October 2011 the Nobel Prize for economics was jointly awarded to professors Christopher Sims and Thomas Sargent for their research on macroeconomics and econometrics.
How to become better macroeconomists: Leijonhufvud’s new Policy Insight
Richard Baldwin, 4 February 2011
The financial crisis and the ensuing recession have prompted reappraisals of the state of macroeconomic theory. Opinions differ on how serious are its problems but critics and defenders alike are agreed that they should be addressed by systematically examining and, where deemed necessary, modifying the assumptions of the reigning dynamic stochastic general equilibrium theory.
Nature of an economy
Axel Leijonhufvud, 4 February 2011
"Nature of an economy", CEPR Policy Insight No 53, can be downloaded free of charge from the CEPR website at http://www.cepr.org/pubs/PolicyInsights/PolicyInsight53.pdf.
Topics: Frontiers of economic research, Macroeconomic policy, Monetary policy
Tags: DSGE models, macroeconomics, rational expectations
Top-down versus bottom-up macroeconomics
Paul De Grauwe, 19 November 2009
There is a general perception today that the financial crisis came about as a result of inefficiencies in the financial markets and economic actors’ poor understanding of the nature of risks.
Why this new crisis needs a new paradigm of economic thought
Keiichiro Kobayashi, 24 August 2009
The policies being debated in the US and Europe today are almost identical to those that played out in Japan a decade or so ago. Japan experienced the collapse of its colossal property bubble in 1990 and then a series of crises as major banks and securities companies were overwhelmed by rapidly rising non-performing debts.
- The case for 4% inflationBall
- Helicopter money as a policy optionReichlin, Turner, Woodford
- The banking crisis as a giant carry trade gone wrongAcharya, Steffen
- Everything the IMF wanted to know about financial regulation and wasn’t afraid to askBair
- Rethinking macroeconomic policy: Getting granularBlanchard, Dell'Ariccia, Mauro
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
Baldwin, Kawai, Wignaraja, 11 June 2013
Giavazzi, Portes, Weder di Mauro, Wyplosz
CEPR Policy Research
- The "Greatest" Carry Trade Ever? Understanding Eurozone Bank RisksAcharya, Steffen
- Political Credit Cycles: The Case of the Euro ZoneFernández-Villaverde, Garicano, Santos
- Winning by Losing: Incentive Incompatibility in Multiple QualifiersDagaev, Sonin
- Income and schoolingBrückner, Gradstein
- Monetary Policy and Rational Asset Price BubblesGalí
- How the EZ crisis is permanently changing EU institutionsMicossi
- WTO 2.0: Global governance of supply-chain tradeBaldwin
- Is US economic growth over? Faltering innovation confronts the six headwindsGordon
- The economic crisis: How to stimulate economies without increasing public debtWood
- Austerity: Too Much of a Good Thing?Corsetti