The effect of macroeconomic uncertainty on firm decisions

Olivier Coibion, Yuriy Gorodnichenko, Saten Kumar Increased uncertainty is a recent, promising explanation for business cycle fluctuations, but identifying a causal relationship is challenging because changes in uncertainty are often correlated with changes in expected outcomes. This column uses a randomised control trial, providing firms in New Zealand with different amounts of information on the […]

Αξιοπιστία και ικανότητα

Αντιγράφω επιστολή με τίτλο “What happens when trust in central banks erodes” στην Φαϊνάνσιαλ Τάιμς  της 26 Αυγούστου 2022 – και την προσυπογράφω. “In your timely editorial ‘A pivotal moment for the world’s central banks’ (FT View, August 23) you note that ‘to blame monetary policymakers wholly for the cost of living crisis would be […]