Why cautious monetary policy is a risky business
By sustaining high interest rates, purportedly to slay inflation, central banks are risking an unnecessary recession.
AUTHOR PROFILE
The OECD and the Great Monetary Restriction
Stubborn attachment to monetary tightening as the cure for inflation will needlessly sacrifice economic activity and jobs.
Profit-driven inflation—the policy implications
It’s time to strengthen labour in the face of inflation, not to continue trying to weaken it.
Decentralised Collective Bargaining: Oversold
Many international economic institutions share the idea that collective bargaining should take place at the level of individual companies. For example, the OECD, as far
OECD Meets Piketty: An Alternative Economic Narrative
Today’s profits are not tomorrow’s investments A picture can say more than a thousand words. This is certainly true for the set of graphs (see
How The OECD Wants To Make Globalisation Work For All
Worried by the populist backlash against globalisation, a big crowd of ministers, politicians and economists participated last June in the annual OECD week in Paris
Has The OECD Joined The Campaign For Higher Wages?
Weak wages produce a weak recovery Trade unions tend to see wages not as a factor of competitiveness but as an engine that drives demand,
The OECD And Job Protection: New Findings But Old Policy Recipes On ‘Your Wage Or Your Job’
One of the key findings from the 2016 Employment Outlook just released by the OECD is that easier firing does not create jobs. Moreover, the
Central Banks Warm To Collective Bargaining
Something peculiar is happening. Up until recently, many central bankers were looking at robust collective bargaining and wage formation systems as a possible source for
Break The Vicious Circle Of Falling Prices And Wages
The IMF has recently released its latest World Economic Outlook (WEO) Update pointing to persistently weak growth and another downward revision of its projected growth
How Germany Gains From The Euro While Others Pay
The ‘non-paper’ which Wolfgang Schäuble presented to his fellow finance ministers at a recent ECOFIN council in Luxemburg (leaked by the Handelsblatt newspaper) represents something
The German Minimum Wage Is Not A Job Killer
Mainstream economists excel in scaremongering about the dismal effects any policy that tries to correct market forces may have on economic performance. By arguing that
Democracy And Monetary Union: How Not To Do It
With the showdown between the “institutions” and Greece catching the headlines of policy discussions across Europe, the publication of the report on completing Economic and
Labour Market Deregulation and Productivity: IMF Finds No Link
New research by IMF staff has found there is no evidence that reforms that deregulate labour markets have any positive impact on increasing the economy’s
European Economic Governance And Flawed Analysis
Getting Stupid Capital Flows Off The Hook The analytical note on the next steps for better economic governance that was published mid- February during the
How To Improve The ECB’s QE Programme
With up to €60 bn of debt a month being bought for the next 19 months, the ECB’s programme of quantitative easing (QE) is massive.