Is the green transition itself a source of inflationary pressure or part of the solution? How can a just transition be achieved? What are the likely prospects for inflation given structural changes in emerging markets and demographic trends? These questions will be at the core of the FMM Conference 2023 under the title “Inflation, Distributional Conflict and Just Transition”.
This paper estimates a demand-led model of macroeconomic growth and fluctuations in which the growth rate of the economy’s supply side converges to the growth rate of demand. Convergence happens because labor supply and productivity growth respond to the degree of slack in the economy.
Keynes’ General Theory was a massive step forward relative to classical economics, but it was also a step backward in its denial of the conflictual nature of capitalism. There is need to understand Keynes’ technical contributions regarding the workings of monetary economies, but also need to understand the flaws within his thinking and the consequences thereof.
The present article proposes to draw on the recent experiences of many central banks of advanced economies and the evolution of their operational frameworks in the new context of increased domestic liquidity, when analysing the operations of central banks that engage in exchange rate management and increase their official foreign reserves as a result.
We explore the short-term macrodynamics of stabilization policy at the effective lower bound (ELB) of the nominal interest rate, in an environment characterized by heterogenous and endogenously time-varying private-sector output and inflation expectations driven by evolutionary dynamics.
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.
