New monetary policy instruments introduced by the ECB following the 2008-2013 financial and debt crisis have raised concerns that central banks’ securities purchase programmes disproportionately benefited wealthy households. Using Finnish data, this column finds that while the impact on economic growth has been significant, on average the changes in income and wealth
In 2021, inflation in emerging market and developing economies reached its highest level since 2011, prompting many to increase their policy rates. This column argues that these economies need to employ credible, carefully calibrated, and well communicated monetary policies to contain inflationary pressures. Such policies tend to be more successful in anchoring inflation
Leading macroeconomists will assemble in Lancaster this summer for the 16th annual Dynare Conference.Lancaster University Management School (LUMS) will host the event on June 30 and July 1. The conference is being organised by the LUMS Department of
In his new role, Gourinchas will manage the IMF’s extensive research program and provide advice to the fund’s directors and to policymakers in its network of 190 member countries.