Forecasting inflation is a staple of macroeconomic modeling, yet virtually all economists’ predictions for the United States in 2021 were
Why Did Almost Nobody See Inflation Coming?
Continue Reading
Project Syndicate
Jackson Hole Economics is honored to work with Project Syndicate. Please take a moment to learn about their important mission:
Project Syndicate produces and delivers original, high-quality commentaries to a global audience. Featuring exclusive contributions by prominent political leaders, policymakers, scholars, business leaders, and civic activists from around the world, PS provides news media and their readers cutting-edge analysis and insight, regardless of ability to pay. Project Syndicate membership includes over 500 media outlets – more than half of which receive its commentaries for free or at subsidized rates – in 156 countries.
For more than 25 years, Project Syndicate has been guided by a simple credo: All people deserve access to a broad range of views by the world’s foremost leaders and thinkers on the issues, events, and forces shaping their lives. At a time of unprecedented uncertainty, that mission is more important than ever – and we remain committed to fulfilling it.
If you would like to enjoy unlimited access to PS’s premium content – which includes the On Point suite of weekly long reads and book reviews, weekly Say More contributor interviews, The Year Ahead magazine, the full PS archive dating back to 1995, and much more, you can subscribe with a 50% discount, which works out to less than $1 per week, by using the Jackson Hole Economics referral link here. You will also directly support PS‘s mission of delivering the highest-quality commentary on the world’s most pressing issues to as wide an audience as possible.
Regime Change in the Global Economy
Growth theory doesn’t make for pleasant reading these days. Indications point to challenges ahead.
A Bad Year for Markets?
Market fundamentals are shifting from tailwinds to headwinds. Investors ought to prepare for more volatile conditions.
The Power and Poison of MMT
Modern Monetary Theory (MMT) is misunderstood by its defenders and detractors. Elements of it can be useful, others are dangerous.
America’s Democratic Future
Demographics are friendly to Democrats. But without safeguards to voting rights, majorities may not matter.
The ECB’s Savvy Gradualism
Unlike the US Federal Reserve, the European Central Bank has no fiscal backstop and must worry about the cohesion of the eurozone, in addition
The Ghost of Christmas Inflation
In a pandemic, you can send people all the money in the world and they still won’t go out to dinner or book a flight, especially if those
History’s Barriers to European Joint Security
Although France and Germany are more reliant on each other than ever, the two heavyweights at the heart of Europe still have vastly different
Does Japan Vindicate Modern Monetary Theory?
For decades, the Japanese government has amassed more and more debt without triggering higher borrowing costs or inflation. But there is no
GDP’s Days Are Numbered
Economists have long know that Gross Domestic Product (GDP) is a poor representation of society’s well-being. Promising alternatives are
Inside America’s Polarized Views on Race
We are not color blind. We form views on race and inequality that defy statistics and analysis. Overcoming racial inequality will be an enduring
Misreading China’s WTO Record Hurts Global Trade
A successful global trading system requires good faith actors. In recent years, the US has undermined its standing by acting in bad faith.
Finding Purpose in the Humanities
STEM prepares us to tackle technical problems. The humanities prepare us to tackle life’s problems. It is time to restore the humanities
Time to Overhaul the Global Financial System
For low- and lower-middle-income countries to pursue their development goals and do their part in tackling problems like climate change, they
Can the Fed Overcome Its Transitory Policy Mistake?
The later the US Federal Reserve is in reacting properly to inflationary developments, the greater the likelihood that it will have to hit
Digital Finance Without Cryptocurrencies
Digital payments and financial transactions hold the promise of greater convenience, stronger competition, and increased savings to society.
The Case Against Green Central Banking
Addressing climate change is vital. But so too is sound central banking. Keeping those tasks separate is best.
Reeling in a Deal to Save the Ocean
The oceans are our commons. We must act before they become our tragedy. The upcoming WTO meeting offers an opportunity for a fresh start.
The Inflation Conundrum
From the US and Brazil to Turkey and India, growing price pressures are leaving policymakers facing some difficult decisions. Unlike in many
The Rise of Intangible Capitalism
The digitized, dematerialized, knowledge-based economy is already here and spreading, and offers huge potential value. The challenge for firms
Planning the Route to Net Zero
In the run-up to COP26, companies trumpeted their commitment to addressing climate change, often citing pledges to achieve goals decades in
What Europe’s Energy Crunch Reveals
Addressing climate change requires resiliency and sacrifice. Both are in short supply, suggesting that required changes will be delayed, imposing
Back to Austerity?
The public purse is not unlimited. It is time for proponents of government programs to focus on what is essential to achieve before the next
Why Are Supply Chains Blocked?
When forecasts are not specific enough to be actionable, the supply response cannot adjust in a timely or efficient manner. And because there