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Republicans are working on a budget that could raise the debt to more than 2x our GDP by 2055 while using accounting tricks to hide the cost of their policies. Abandoning all fiscal discipline is the last thing America’s economic reputation needs right now.

Bullies back down. It is tragic to see the United States following banana republic policy approaches and market patterns.

Make (some) Americans rich(er) Again.

Boasting!!

Hannes and I just wrote a short note on the important role of investment for thinking about the long-run consequences of trade wars. Trade wars reduce investment, and this makes them dramatically more costly for long-run outcomes.

What tariff policy closes a long-run trade deficit? As it turns out, this is an ill-posed question, as we explain in this note. (1/n) dropbox.com/scl/fi/9j4c80x…

As of now, 31 people are known to have been killed in Sumy by the Russian ballistic missile strike. Among those killed were two children. My condolences to the families and loved ones… More than 84 people have been wounded, including 10 children. All of them are receiving the

“No government—regardless of which party is in power—should dictate what private universities can teach, whom they can admit and hire, and which areas of study and inquiry they can pursue.” - President Alan Garber hrvd.me/GarberRespond3…

For thoughtful, apolitical and accessible analysis of tariffs and its global effects, see cepr.org/voxeu/trump-an… #TariffWar

New paper on recent US tariffs with Matt Rognlie and Adrien Auclert Our focus: effects of temporary increases in tariffs (“tariff shocks") Three Qs: 1 Will tariffs lead to a recession? 2 Will they reduce the trade deficit? 3 Why are they not appreciating USD? (as in std theory) 🧵

This year's Gorman Lectures at UCL will be given by one my heroes, Ariel Pakes. I can't wait!

As the world debates new economic architectures, a reminder that some, like Michael Pettis (Michael Pettis), have been spectacularly wrong before about international macroeconomics: “Spain will almost certainly be forced to leave the euro and default on its debt, or else suffer

We have extended the deadline for applications to the Economics MSc programme at UCL Economics! If this interests you or someone you know, do check the link below: dropbox.com/scl/fi/a6o0f9d…

A personal assessment of the evolution of macroeconomic research over the last 40 years (informed by the opinions of many of the main researchers in the field). shorturl.at/V7vkJ Conclusion: Strong convergence, mostly for the better. Not everything is perfect but,

Rafał Trzaskowski w przemówieniu obiecał dziś otwarcie redukcję podatków (podniesienie kwoty wolnej). Karol Nawrocki też obiecuje duże cięcia. Będziemy mieli wielką debatę o to, kto bardziej zetnie podatki. W kraju, który musi się zbroić.Który się starzeje i bardziej choruje. Eh

Najpierw się naparzał w lesie z Dzidkiem, a potem dziadkowi mieszkanie podpieprzył. Na 50% nasz przyszły prezydent (pseudonim "Prezio")

Wobec licznych zapytań mediów potwierdzam informację, że ABW w toku poszerzonego postępowania sprawdzającego Pana Karola Nawrockiego w 2021 r. zgromadziła materiały dotyczące sposobu i źródeł sfinansowania zakupu mieszkania od Jerzego Ż. Dysponujący całością wiedzy, w tym między

Piątka dla Dobrobytu - pięć zadań dla nowego prezydenta. napokolenia.pl/piatka-dla-dob…

It was wonderful to be joined by so many people from across politics for the UCL Policy Lab’s Ordinary Hope Summer Celebration. Featuring the brilliant Hilary Cottam in conversation with Jonathan Freedland and Lukasz Rachel on Hilary's important new book 'The Work We Need'.

Forthcoming in AEJ: Macroeconomics: "An Analytical Model of Behavior and Policy in an Epidemic" by Lukasz Rachel. aeaweb.org/articles?id=10…