Secular stagnation: Facts, causes, and cures â a new Vox eBook
Richard Baldwin, Coen Teulings, 15 August 2014Six years after the Crisis and the recovery is still anaemic despite years of zero interest rates. Is âsecular stagnationâ to blame? This column...
View ArticleIs there a âtaste for discriminationâ?
Alex Bryson, Arnaud Chevalier, 15 August 2014Racial gaps in wages are often attributed to discrimination but data limitations make drawing strong conclusions difficult. Economists usually distinguish...
View ArticleThe unrecognised benefits of grade inflation
Raphael Boleslavsky, Christopher Cotton, 16 August 2014Grade inflation is widely viewed as detrimental, compromising the quality of education and reducing the information content of student transcripts...
View ArticleAfrican growth looking forward
Marco Annunziata, 16 August 2014Africa has generated a lot of enthusiasm lately. The cynical view of the continent as a hopeless basket case has been replaced by the lofty narrative of Africa Rising....
View ArticleGrowth escalators and growth convergence
Ejaz Ghani, 17 August 2014Just like the East Asian Tigers, the Lions of Africa are now growing much faster than the developed economies. However, this column shows that the growth escalators in Africa...
View ArticleGreat Depression recovery: The role of capital controls
Kris James Mitchener , Kirsten Wandschneider, 18 August 2014The IMF has recently revised its position on capital controls, acknowledging that they may help prevent financial crises. This column...
View ArticleThe decline in labour force participation in the US
Steven Braun, John Coglianese, Jason Furman, Betsey Stevenson, Jim Stock, 18 August 2014The labour force participation rate in the US has fallen dramatically since 2007. This column traces this decline...
View ArticleCorporate governance reform in Japan
Chie Aoyagi, Giovanni Ganelli, 19 August 2014Japanese corporations hold a very high level of cash on their balance sheets compared to those in other advanced countries. Such excessive corporate savings...
View ArticleThe economic fruits of patience
Bart Golsteyn, Hans Grönqvist, Lena Lindahl, 19 August 2014Time preference has substantial economic consequences. To a growing literature that shows patience to be an important indicator of economic...
View ArticleMaternal grief and child outcomes
Sandra E. Black, Paul Devereux, Kjell G. Salvanes, 20 August 2014Adverse health or nutrition shocks to pregnant women can have significant and often long-lasting effects on the outcomes of their...
View ArticleThe economics of density: Evidence from the Berlin Wall
Gabriel M. Ahlfeldt, Stephen Redding, Daniel M. Sturm, Nikolaus Wolf, 20 August 2014Economic activity is highly unevenly distributed across space. Understanding what drives the agglomeration and...
View ArticleHow to jumpstart the Eurozone economy
Francesco Giavazzi, Guido Tabellini, 21 August 2014The stagnating Eurozone economy requires policy action. This column argues that EZ leaders should agree a coordinated 5% tax cut, extension of budget...
View ArticleNominal GDP targeting for developing nations
Pranjul Bhandari, Jeffrey Frankel, 21 August 2014Central banks, especially in developing countries, still seek transparent and credible communication. Yet signalling intentions through forward guidance...
View ArticleBallooning finance
Bruno Biais, Jean-Charles Rochet, Paul Woolley, 21 August 2014The Global Crisis has intensified debates over the merits of financial innovation and the optimal size of the financial sector. This column...
View ArticleMinority mortgage market and the Crisis
Stephen L. Ross, 22 August 2014The foreclosure crisis that followed the subprime crisis has had significant negative consequences for minority homeowners. This column reviews recent evidence in the...
View ArticleHow can we measure media power?
Andrea Prat, 22 August 2014The potential for political influence is what most people think of when they talk about the power of the media. A new media power index, proposed in this column, aggregates...
View ArticlePricing and EZ membership: Evidence from Latvia
Alberto Cavallo, Brent Neiman, Roberto Rigobon, 22 August 2014What happens to prices when a country joins a currency union, and do prices behave differently in a pegged exchange rate regime? This...
View ArticleNew-breed global investors and financial stability
Gaston Gelos, Hiroko Oura, 23 August 2014The landscape of portfolio investment in emerging markets has evolved considerably over the past 15 years. Financial markets have deepened and become more...
View ArticleFirm growth and large jumps
Yoshiyuki Arata, 23 August 2014One of the main models in industrial organisation assumes that firms grow in a response to many small shocks that satisfy the central limit theorem. This column shows...
View ArticleThe role of corporate saving in global rebalancing
Philippe Bacchetta, Kenza Benhima, 24 August 2014Among the various explanations behind global imbalances, the role of corporate saving has received relatively little attention. This column argues that...
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