Friday, Jun 14, 2019

– Recent trends, and the broader history of technological change, indicate that automation will usher in major shifts in labor markets over the next decade, displacing millions of workers but also creating millions of new jobs that require new skills. The McKinsey Global Institute, having documented these changes for several years, has produced a new report examining how automation might affect men and women differently. A key conclusion of the study is that persistent gender disparities in the workplace, as documented in a previous MGI report, will make it more difficult for women than for men to adapt to the coming changes in labor demand, skill requirements, and employment locations.

Olivier Blanchard
Tuesday, Jun 11, 2019

Earlier this year, I argued that in countries where interest rates are extremely low and public debt is considered safe by investors – making it less costly from both a fiscal and economic standpoint – larger fiscal deficits may be needed to make up for the limitations of monetary policy. The eurozone has now reached this stage.

Prof. Ujjwal K Chowdhury
Tuesday, Jun 04, 2019

The Left, or those with allegiance to Communism, has just got the worst electoral drubbing in the history of independent India as far as the Indian general elections are concerned. They have managed to gain just five seats, down from the best showing of 64 MPs in Lok Sabha in the first UPA tenure. Also, even as a force of movement, the Left has declined across India.

Prof. Ujjwal K Chowdhury
Tuesday, Jun 04, 2019

Recently, on 25th April, 2019, The Guardian of UK has reported, "With Meghan, Duchess of Sussex, and Kim Kardashian spotted in vintage wear, and its increasing availability on the high street, it could be the answer to sustainable shopping." Please note, vintage wear is about second hand clothing.

Adair Turner
Friday, May 31, 2019

This January, 3,554 US economists – including 27 Nobel laureates, four former Chairs of the Federal Reserve, and two former Treasury Secretaries – proposed a previously heretical policy. The United States, they said, should combine a domestic carbon price with a “border carbon adjustment system.” By backing tariffs that would reflect the carbon intensity of key imports, they broke with the free-market orthodoxy that national environmental policies should not impede global trade liberalization.

Prof. Ujjwal K Chowdhury
Friday, May 31, 2019

Indian National Congress is surely at the crossroads today. It was founded on December 28, 1885, initially to be a wise counsel for the British rulers of India about issues of the people. It outlived its mediatory role soon and led to a force of non-cooperation movement based on principles of non-violence under the leadership of Mahatma Gandhi, and various shades of more radical movements gradually moved away from Congress. Post independence, it became the first political force to come to rule though Gandhi, never a Congress member himself but its ideological mentor, once wished it to be dissolved after gaining independence.

Lucrezia Reichlin
Tuesday, May 28, 2019

This month, the European Central Bank hosted a colloquium in honor of Peter Praet, its departing chief economist. Having worked closely with ECB President Mario Draghi through the years after the 2008 financial crisis and subsequent euro crisis, Praet, more than anyone else, has been the one to steer the bank’s governing council toward a common decision in difficult situations.

Prof. Ujjwal K Chowdhury
Friday, May 24, 2019

It is a decisive win for PM Modi, BJP and NDA. And Modi government 2.0 is on the anvil. And we need to explore the reasons too.On the Congress led UPA side, situation by 12 noon has shown that it is relatively stronger this time around though far from a win. And regional parties are on the decline except for YSR Congress in Andhra, BJD in Odisha, TRS in Telengana and DMK in Tamil Nadu (largely in South India). The Left is totally left out of the ensuing Lok Sabha. What explains the opposition campaign fizzling out?

Prof. Ujjwal K Chowdhury
Thursday, May 23, 2019

Today, as India prepares for the results of another general election, and with Congress and the regional parties gaining ground with each phase of the electoral battle, the question of getting into governance for those now in opposition with a concrete and common agenda is up for public debate. There should have been such an agenda declared before the elections, but major opposition parties chose to announce their individual manifestos rather.

Prof. Ujjwal K Chowdhury
Sunday, May 19, 2019

The apologists of a government with a strong leader hinges on the premise that you need a decisive leadership to shepherd India to a presumably 20 trillion dollar economy by 2047, which will have huge returns from Indian manpower, IT industry, satellite telecom, defence production, and services. It believes that the creativity of India, the scientific knowledge of India, and the ancient traditions of India are what the world needs.

Laura Tyson and Lenny Mendonca
Friday, May 17, 2019

Though the unemployment rate and jobless claims are currently lower than at any point since 1969, the US economy is still facing labor-market challenges that cannot be ignored. One stands out: the long-term decline in the US labor-force participation rate (LFPR) – a key factor in future growth.

Andrés Velasco
Tuesday, May 14, 2019

Say one thing and then do something else. That pretty much sums up current orthodoxy in emerging economies regarding exchange-rate management. Countries are supposed to use the interest rate to achieve an inflation target and let the exchange rate float freely.

Dalia Marin
Sunday, May 12, 2019

Earlier this year, German Economy Minister Peter Altmaier unveiled his “National Industrial Strategy 2030,” which aims to protect German firms against state-subsidized Chinese competitors. The strategy identifies key industrial sectors that will receive special government support, calls for establishing production of electric-car batteries in Europe, and advocates mergers to achieve economies of scale.

Carmen M. Reinhart
Monday, May 06, 2019

The stubbornness of inflation continues to challenge and mystify central bankers worldwide. Whether they are trying to boost price growth or rein it in, policymakers are effectively wrestling with the same problem.

Adair Turner
Sunday, Apr 28, 2019

Easter visitors to London have found some streets and buildings occupied by “Extinction Rebellion” activists, warning of climate catastrophe and rejecting “a failed capitalist system.” Followers of central bank thinking have seen the governors of the Bank of England and Banque de France warning that climate-related risks threaten company profits and financial stability.