A number of economists have recently been debating what is wrong with macroeconomic modelling today. The University of Chicago's John Cochrane, Oxford’s Simon Wren-Lewis, Berkeley’s Brad DeLong, and ...

Explore the causes and implications of below full employment equilibrium, where short-run GDP falls below potential output, leading to resource underutilization.

The income expenditure model of economics was developed by John Maynard Keynes to explain fluctuations in production of goods and services and spending. The model basically states that we produce as ...

This paper analyzes the use of unconventional policy instruments in New Keynesian setups in which the ‘divine coincidence’ breaks down. The paper discusses the role of a second instrument and its ...

Come any Budget (or crisis), the discussion veers towards favouring and opposing Keynesian stimulus, multipliers, and animal ...

The Indian economy, which was facing demand defi ciency and slowdown prior to the Covid-19 outbreak, plunged further with the lockdown. The present exercise represents the current problem as a typical ...

Editor’s Note: This is Part 1 of a two-part series on how mistaken assumptions by top U.S. policymakers have worsened the financial crisis. It has been three years since the worst financial collapse ...

As a rule, the latest economic figures are not that important in themselves, but they shed fresh light on long-run trends. It may or may not be true, as Dean Baker suggests, that the 0.1 percent ...

This paper develops a small open economy dynamic stochastic general equilibrium (DSGE) model of the Armenian economy. The structure of the model is largely motivated by recent developments in DSGE ...

With Hollywood hipster clothing boutiques declaring "Broke Is the New Black," establishment media outlets circulating the tired phrase new normal to describe America's four-year-old economic ...

URGENTLY needed: a firebrand economic genius to get us out of this mess. Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium ...