Can modern macroeconometrics help?
We document a significant decline in long-run GDP growth in the United States, the bulk of this slowdown occurred prior to the Great Recession.
The authors analyse multi-asset trend, carry, and volatility returns, explaining why they exist, the benefits they confer to a traditional balanced portfolio, and the risks.
A debate on Emerging Markets, with Gavyn Davies, Maurice Obstfeld, Alan Taylor and Dominic Wilson
With inflation in the euro area well below the ECB's target of "below but close to 2%", we review the risk of self-fulfilling deflationary equilibria and suggest improvements in the central bank's communication policy.