The recent sacking of the permanent secretary at the Treasury, as well as recent comments by the new Prime Minister and Chancellor on the Bank of England’s remit have raised eyebrows. But whatever your political views, it’s now abundantly clear that our macroeconomic policymakers need new ideas, and financial markets are heading for choppy waters […]
Austerity, welfare, pensions – all our fiscal dilemmas could be easily solved by printing money. This is the conclusion of a fashionable strand of macroeconomics called Modern Monetary Theory (MMT) — but does it stand up to scrutiny? At the heart of MMT is an approach to macroeconomics developed by British economists in the 1970s […]
The Bank of England is thinking about opening its doors to the public. A new digital or cryptocurrency, say Bank researchers and deputy governor Ben Broadbent, could be used to offer Bank of England accounts to everyone — currently it only holds accounts for other banks and a few financial institutions. Such a system would […]
The Great Moderation, the period of stable growth between the early-90s and late-2000s, has been back underway again for several years, but with noticeably less momentum. In the US, UK and Eurozone, annual rates of GDP growth of 3 per cent and 4 per cent have been replaced by 1 per cent and 2 per […]
