Central banks are still too tight

Quick note: With the ECB's policy statement today, it's clear that a lot of major central banks are still running policy that is too tight given the emerging global growth slowdown. I mentioned the Bank of Canada yesterday. But I also…

Monopsony in the UK

By Will Abel, Silvana Tenreyro, and Gregory Thwaites This post first appeared on Vox. The growing prominence of giant companies in advanced economies has raised concerns about the increase in monopoly power (e.g. Eeckhout and de Loecker…

What Is GDP in China?

Analysts are increasingly skeptical that China’s very high reported GDP growth rate provides a meaningful picture of the economy’s health. There are, however, at least three very different ways that reported GDP can fail to reflect the…

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