During the past few decades, as the economy has shifted from one based on manufacturing to one based on information and digital technologies, this traditionally inverse relationship between unemployment and inflation as shown in the Phillips curve has flattened. … READ MORE >
fiscal policy
Global fiscal policy: Reflation led by fiscal firepower
The policy response by governments and central banks around the world has focused on the integration of fiscal and monetary policy to offset the impact of the pandemic and create the conditions for economic expansion. … READ MORE >
How to bridge the output gap and return the economy to full employment
Our estimate of what that will take to close the output gap and return to full employment strongly implies the need for roughly $2 trillion in fiscal aid. … READ MORE >
An inconclusive outcome: Election produces no winner, expected court challenge
The presidential election produced no clear outcome on Tuesday night, and instead brought uncertainty, financial market volatility and political risk across the business world. … READ MORE >
The post-coronavirus economy: What to expect, and what is needed
It is now time to begin considering the shape of the post-pandemic economy: What it will look like, whose interests are given preference and how fiscal and monetary policy will drive the American economy. … READ MORE >