In a recent post I discussed the impact on the broad economy associated with the coronavirus. However, this is only a starting point for thinking about economic impacts – the next question is how we can understand the composition of the shocks, how we can measure this in real time, and how we can consider […]
The coronavirus has been in the news, with its relatively rapid spread a cause for concern. This has important welfare and wellbeing effects associated with the pain people might experience due to the coronavirus. However, today I am going to discuss how we can think about the consequences of a disease outbreak for the general […]
Former Governor of the Bank of England, Mervyn King is suggesting that “Economics Needs a Post-Crash Revolution” in a seeming admission that current frameworks don’t work in a world of radical uncertainty and necessary reallocation. Is the former BOE governor and academic icon correct, or is this an unfair critique of the mainstream? As a […]
Matt and myself have just returned from our wedding for which we hired the Wedding Decor Rentals Seattle team, honeymoon, and birthday party overseas, and I’m eager to post a lot more content this year! However, before doing so I thought it would be fun to share a couple of pictures of our recent journey.
While the concept of quantitative easing has received a lot of attention amongst economists, qualitative easing was not as widely discussed. Qualitative easing is a monetary easing program that was used by Japan in 2013 and represents some elements of the QE programmes in the US. The outline of how it works is well described […]
When we model production functions in macroeconomics, the broad ingredients we have for output growth are labour and capital – our factors of production. Both of these factors need to be remunerated, which raises the question of what share of income goes to each. This is the question of factor income shares.