At our conference, we will focus on progressive perspectives to face these challenges. What can macroeconomists from different schools of thought contribute to these debates?
Traditional trust-related de-dollarization motives have gained additional impetus from the declining share of the United States in global output, recent upheaval in dollar bond markets, geopolitical tensions, and a "weaponization" of the dollar. Several institutional innovations by China and the BRICS demonstrate the demand for de-dollarization but do not offer credible alternatives to the dollar's value characteristics.
This paper presents a new formulation of conflict inflation labeled the “pass-through” approach, which contrasts with the existing “pressure balance” approach. The model generates Phillips styled inflation - unemployment dynamics that are a hybrid of Keynesian and NAIRU dynamics.
This article integrates monetary policy into a very simple dynamic supermultiplier model with an accommodating supply side. Results show that monetary policy guided by a conventional Taylor rule may stabilize an economy around the steady-state path of demand-led growth following temporary demand shocks.
Neoliberalism eviscerated the value-sharing ethos of the post-war Golden Age (1945-73), seeking to maintain social cohesion in civil society by 'managing the discontent of the losers'. This involved reconciling working households to the realities of the neoliberal labour market by means of coercion, distraction, and debt accumulation - the latter serving to limit the growth of consumption inequality in the face of burgeoning income inequality.
FMM Fellows are distinguished scholars that contribute to the development of the Forum, act as its ambassadors in academics and policy circles and give advice to the coordination group.