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A thread on the state of macroeconomics, based on piie.com/publications/w… Macroeconomics is the subject of many criticisms. From the journalists, that macroeconomists are not good at predicting the future, or that macroeconomists too often disagree. From other economists, that

A good discussion of why Eurobonds could rival US Treasuries reuters.com/markets/europe… Olivier Blanchard Peterson Institute

Tariffs are a “bad form of tax," Adam Posen says, in terms of the costs compared with the amount of revenue raised, who pays the tax, & the chaos created. “Costs, chaos, corruption are the reasons you don’t use tariffs as a large-scale revenue generator."

Dans un contexte ou la réduction des déficits impliquera des sacrifices de l’ensemble de la population, ne pas demander aux tres riches de simplement payer leur part est moralement et politiquement inacceptable.

Il n'y a bien sûr strictement aucune erreur: le taux de prélèvements du Français moyen est 50 %, celui des milliardaires de l'ordre de 26 %, tous les déciles de la population payent plus de 26 %, et cela même si l'on exclut (ce ce qui n'a pas grand sens) les cotisations retraite

Sur le debat provoque par Sylvain Catherine et Antoine Levy a propos de la taxe Zucman: Je crois a deux choses: Les tres riches utilisent l’optimisation fiscale beaucoup plus que les autres. Il est moralement et politiquement impossible de réduire les depenses de transfert

One of the easiest (and least costly) actions to help Europe achieve more autonomy. Yet, old fears don't go away easy.

I am struck by the difference between the standard public finance advice not to allocate specific taxes to specific uses, and the political reality, which is that linking revenue and use often strongly increases support for the use. The reason is simple: People do not trust the

it took a bit of time, but our paper is out. And it has, I think, aged fairly well.

On our euro bonds proposal ( piie.com/blogs/realtime…): A message largely aimed at my German and Dutch friends… Many of the objections clearly come from the worry that euro bonds may be a trojan horse for more debt financed spending by the European Union. Our proposal has no

Quoted from the FT: “The world’s leading economies have agreed to a deal to spare the US’s largest companies from paying more corporate tax overseas, throwing into doubt the status of the biggest global tax deal in over a century.” This is very sad. Nobody who cares about the

Very much worth reading the whole piece. Different objective functions may allow for a perceived win/win outcome. But two questions: Isn't your forecast of an unanswered 10% US tariff an objective win for the US How does your analysis handle the US/Europe trade war? It seems

Dear Ivan, So much talent, and the glasses are the final touch.

We are not close to shift to bitcoin as a general means of payment. (Although I can think of scenarios, which until now I thought as inconceivable, where a President could make it happen, for example by requiring that all prices and payments be labeled in bitcoin, leading people

The importance of information for #tax design: Evidence from the French wealth tax Bertrand Garbinti CREST (UMR 9194) ENSAE Paris, Jonathan Goupille-Lebret @ENSdeLyon CNRS 🌍, Mathilde Muñoz, Stefanie Stantcheva, Gabriel Zucman ow.ly/auVo50WkSSf

On Europe and the 10% tariff: I am going to cut your arm. Please do not, please, please Ok, I shall be generous, and just cut your thumb. Thank you, thank you. You are so generous. [I very much hope i am wrong]

Une interview avec Terra Nova jeunes. 15-20 premieres minutes: Une discussion peut etre interessante (specialement pour les etudiants en macro) sur le role et la nature des modeles en macroeconomie. terranovajeunes.wordpress.com/2025/07/08/la-…