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COVID ECONOMICS VETTED AND REAL-TIME PAPERS FROM THE GREAT RECESSION TO THE PANDEMIC RECESSION Francis X. Diebold ELECTORAL POLITICS AND SMALL BUSINESS LOANS Ran Duchin and John Hackney GROWTH FORECASTS AT END-2020 Javier G. Gómez-Pineda STOP-AND-GO EPIDEMIC CONTROL Claudius Gros and Daniel Gros CONSUMPTION RESPONSES TO STIMULUS PAYMENTS So Kubota, Koichiro Onishi and Yuta Toyama CHILD CARE CLOSUR
Which programming language is best for economic research: Julia, Matlab, Python or R? The most widely used programming languages for economic research are Julia, Matlab, Python and R. This column uses three criteria to compare the languages: the power of available libraries, the speed and possibilities when handling large datasets, and the speed and ease-of-use for a computationally intensive task
The COVID-19 pandemic is having immediately visible effects on economic activity. The rapid contraction in economic activity, the collapse of trade, and the dramatic increase in the unemployment rate are without precedent. However, pandemics also have less well-understood, longer-run effects on the natural rate of interest – a critical economic barometer and policy marker. This column reveals how
Vox eBooks Mitigating the COVID Economic Crisis: Act Fast and Do Whatever It Takes edited by Richard Baldwin Beatrice Weder di Mauro 18 Mar 2020 Leading economists from around the world are calling for swift policy action to mitigate the economic damage from the global pandemic. In this second eBook on the coronavirus from CEPR and Vox, the experts are unanimous that the case for decisive and coor
VoxEU Column Exchange Rates Industrial organisation International trade Productivity and Innovation Why Japan lost its comparative advantage in producing electronic parts and components Japanese exports in electronic parts and components dramatically fell in value after the Global Crisis and have not recovered until today. This column investigates why Japan lost this comparative advantage. It argu
Artificial intelligence, algorithmic pricing, and collusion Antitrust agencies are concerned that the autonomous pricing algorithms increasingly used by online vendors may learn to collude. This column uses experiments with pricing algorithms powered by AI in a controlled environment to demonstrate that even relatively simple algorithms systematically learn to play sophisticated collusive strategi
Wendy Carlin External Professor Santa Fe Institute; Professor of Economics University College London Don’t let the students know! What we teach them in our intro classes bears little resemblance to how we do economics ourselves. The great mid-20th century thinkers – John Maynard Keynes, Friedrich Hayek, and John Nash – initiated a process that eventually transformed how we now understand the econo
VoxEU Column Financial Regulation and Banking Macroeconomic policy Monetary Policy Most economists and central bankers no longer consider money supply measures to be useful for conducting monetary policy. One reason is the alleged instability of the relationship between monetary aggregates. This column uses data from 32 countries and spanning up to 100 years to argue that the long-run demand for m
Recent explanations for the persistence of both the gender wage gap and the under-representation of women in top jobs have focused on behavioural aspects, in particular on differences in the responses of men and women to competition. This column suggests that it may not be competition itself that affects women, but the gender of their opponent. Analysis of data from thousands of expert chess games
Previous research found that income and wealth inequality had little impact on the aggregate dynamics of consumption, investment and output. This reinforced the idea that we can study downturns in the economy using representative agents. This column argues that household inequality affects both the depth of a recession and the welfare losses of those affected by it. Therefore we should explicitly
Robert J. Gordon Stanley G. Harris Professor in the Social Sciences and Professor of Economics Northwestern University It is time to raise basic questions about the process of economic growth, especially the assumption – nearly universal since Solow’s seminal contributions of the 1950s (Solow 1956) – that economic growth is a continuous process that will persist forever. There was virtually no gro
The current economic crisis has called into question the role of monetary policy, particularly inflation targeting and its oversight of asset bubbles and supply side shocks. This column is an obituary to inflation targeting and call for nominal GDP targeting to replace it. It is with regret that we announce the death of inflation targeting. The monetary regime, known affectionately as “IT” to its
CEPR, established in 1983, is an independent, non‐partisan, pan‐European non‐profit organization. Its mission is to enhance the quality of policy decisions through providing policy‐relevant research, based soundly in economic theory, to policymakers, the private sector and civil society. NEW EDITION: The Economic Consequences of The Second Trump Administration: A Preliminary Assessment An updated
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