Big thinking
Blanchard calls for rethink on costs of debt
Fiscal cost of public debt may be zero, macroeconomist argues, but that does not make debt costless
PRA using AI to understand connectivity of rulebook
UK regulator is using Google search engine algorithm to see if rulebook can be streamlined
Podcast: David Hendry and John Muellbauer on empirical macro
The econometricians cast a sceptical eye over DSGE models and weigh up some alternatives
Podcast: David Vines on how to reform the DSGE model
Oxford University’s David Vines believes the New Keynesian DSGE model is salvageable – but needs work
Podcast: Canada’s Wilkins on fighting unconscious bias
Carolyn Wilkins on how the Bank of Canada has worked to improve its gender balance
Haldane envisages ‘iterative’ approach to advancing economics
Deductive and inductive approaches “need to share a broadly equal billing”, BoE chief economist says
Veteran economists weigh in on ‘rebuilding’ macro theory
Economists tackle the question of how – and whether – to save the DSGE model
Google’s Hal Varian on how technology is changing economics
Big data and machine learning are facilitating changes in thinking
Big data in central banks: 2017 survey
As an active area for new projects, big data is becoming a fixture in policymaking, with an increasing number of central banks carving out a budget for data handling
BoE economists criticise DSGE inflation modelling
Team including MPC member Kristin Forbes criticises structural modelling approaches
IMF economist builds agent-based banking system model
Model captures diversity of agents and use of rules of thumb
Scrap micro-foundations to repair macroeconomics – Steve Keen
Professor says economy should be viewed as a dynamic system
Haldane hopeful for ‘rebirth’ of economics
BoE chief economist believes crisis for the profession could lead to break with past thinking
BIS’s Shin links dollar strength to global malaise
Framework could explain many questions economists have struggled with in recent years
Haldane turns to other disciplines to solve big economic questions
BoE chief economist calls for interdisciplinary approach
Climbing ‘Mount Economy’
The BIS’s quest for financial stability-orientated monetary policy raises profound challenges
Helicopters bearing gifts
As QE and negative rates run out of room, helicopter money could represent a last resort
Yellen offers helicopter money cautious support
Policy should only be used in "extreme" circumstances, Fed chair says
Helicopter money still contentious as Borio enters debate
Article by Claudio Borio and others triggers fresh debate
Riksbank’s Skingsley sees potential in helicopter money
Limited room for manoeuvre calls for more radical thinking, says deputy
Ingves raises fundamental questions about central banking
Riksbank governor raises prospect of a merger with the FSA and joining the SSM
Rajan offers solution to global policy spillovers
RBI governor sketches rating system designed to hold central banks to account
Mervyn King calls for radical banking reform
Former BoE governor wants to end the 'alchemy' of banking