The UK has seen slow rates of productivity growth over the past decade (ONS 2020), with output per hour and real wages no higher today than they were prior to the global financial crisis. The…

Public spending at the effective lower bound: The significance of sustainability risks Risk-free interest rates are the main instrument used by central banks in normal times to achieve their inflation objectives and to pursue economic…

By Lambert Strether of Corrente. Politics “But what is government itself, but the greatest of all reflections on human nature?” –James Madison, Federalist 51 “They had one weapon left and both knew it: treachery.” –Frank…

Passengers line up for thermography to check body temperature at Beijing Station. (AP Photo by Yomiuri Shimbun) This article, which first appeared in the Washington Post, was written by Rothstein and Jared Bernstein, who is…

A combination of supply and demand shocks have sent oil prices plunging and financial markets tumbling. This column argues that if the decline in oil prices persists, it will erode the fragile macroeconomic and social…