Inflation is the biggest debate in macro. The models don't work.
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Research from the BIS suggests that much of the recent increase in inflation is really a result of changing relative prices rather than a generalised…
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Consumers seem to think so. And they are supposed to be driving the recovery.
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Over the coming 12-18 months fiscal policy will matter more than monetary policy in Britain. Political economy is trumping macroeconomics and driving…
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What we know so far
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UK macro-policymakers just keep accepting economic damage as irreversible. They shouldn't.
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The 1970s analogy is overused in British economic commentary. But, in some ways, it is starting to make sense.
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The Bank's actions are hard to square with its numbers. Plus: some free advice for the Governor.
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What we know so far, continued
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A big - and much better targeted - fiscal package. But where does it leave the Bank? And what happens next year?
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Inflation is uncomfortably high. But central banks faced a tough trade-off.
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The global macro debate is focussed on monetary policy. Fiscal policy will play a bigger role in the coming 12-18 months.
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