The deep and prolonged recession triggered by the global financial crisis of 2007–2009 led to a large increase in the unemployment rate in most advanced economies. Ten years later, at the time of writing this paper, the ...

There is important heterogeneity among households, firms, and banks; and the way shocks or policies affect these agents depends critically on that heterogeneity. There was a rapid surge in the awareness of academic researchers ...

World commodity prices are known to display long cycles. These cycles have a periodicity of 20 to 30 years and are called commodityprice supercycles. Figure 1 displays the time paths of eleven commodity prices deflated by ...

The institution of central-bank independence is often lauded as a great conquest of the accumulation of knowledge and the sensible setting of policy. The economic literature is filled with arguments for why an independent ...