The Causal Effect of News on Inflation Expectations

This paper studies the response of household inflation expectations to television news coverage of inflation.

The Rise of Inflation Targeting

This paper discusses the interactions between politics and economic ideas leading to the adoption of inflation targeting in the United States.

AI and the Future of Society and Economy

Large language and generative AI models like ChatGPT are the equivalent of the first automobiles: fun to play with, somewhat unreliable, and maybe a little dangerous. But over time, the lesson for will be clear: Who Learns Fastest, Wins.

Automated Detection of Emotion in Central Bank Communication: A Warning

Can LLMs help us better understand the role of emotion in central bank communication?

Higher Ed’s Diseconomies of Scale

Ignore 'Open Letters' From Economists

Don’t be swayed by “open” letters signed by well-known and well-respected scholars, experts, professors, and businessmen.

Demystifying the New Deal

Carola Binder reviews False Dawn: The New Deal and the Promise of Recovery, 1933–1947 by George Selgin

Why Is California Losing Good Jobs to Other States? It’s Not Rocket Science

The system that made California dynamic and prosperous for so long is now broken and backward-looking