Silvana Tenreyro, LSE Department of Economics, now looks at whether the 2016 #referendum result provided news on a slowdown in future traded sector productivity as a result of a #Brexit. 3/n NIER

New CEPR Discussion Paper - DP18595 Measuring Monetary Policy in the UK: the UK Monetary Policy Event-Study Database Robin Braun @robin_braun Federal Reserve, Silvia Miranda-Agrippino Silvia Miranda-Agrippino New York Fed, Tuli Saha Bank of England ow.ly/KuiG50Q8Fkk #CEPR_MEF

More info here: diw.de/de/diw_01.c.88…

To form a view on the long-run prospects for global interest rates, it's important to understand the driving forces underlying their secular trends New blog post based on our paper 𝑮𝒍𝒐𝒃𝒂𝒍 𝑹*, with Richard Harrison and Rana Sajedi 👇 bankunderground.co.uk/2023/11/30/glo…

Global R* has declined over 3% since the mid-70s due to lower productivity growth & increased longevity. Absent a reversal in trends or counteracting forces, a sustained low Global R* is anticipated. Ambrogio Cesa-Bianchi, Richard Harrison, Rana Sajedi Bank of England ow.ly/tCGi50Qejx1

Thanks to FT Alphaville for picking up or work on Global R* 😊 w Richard Harrison and Rana Sajedi ft.com/content/059aed…

BU post delves into forces driving global equilibrium real rates. Finds 3pp fall since 1970s driven by falling productivity growth + increased longevity. Unless these trends reverse/new forces emerge to offset them, long-run global R* likely to remain low bankunderground.co.uk/2023/11/30/glo…

You have two days left to register for our joint workshop on Behavioural Macro and Finance with the LSE European Institute. Join us on 19th Jan. In person + online registration at: lse.ac.uk/european-insti…

BoE's Ryland Thomas blogs about the British Government Securities Database and its move to the BoE-ESCoE-ONS historical data repository.

Happy to share our latest publication on climate and monetary policy. We look at the role of expectations in shaping economic outcomes during a green transition. A big shoutout to my brilliant co-authors Barbara Annicchiarico & Fabio Di Dio. Dive into the findings ➡️sciencedirect.com/science/articl…

I have a new #bankunderground Bank of England Research blogpost out with Dario Bonciani! We study how well a Bayesian VAR forecasts inflation in the face of large terms of trade shocks. Key finding: it turns out the VAR predicts the recent inflation spike surprisingly well if (1/2)

Very pleased to have (finally) completed an update of my 2017 working paper. Many thanks to Bank of England Research for the great summary thread.

🧵SWP 1065 by Tim Willems (BoE) + Rick van der Ploeg (Oxford Uni) develops a model where workers and firms can differ in their desired markups, and explores how this affects wage-price dynamics and (optimal) monetary policy... bankofengland.co.uk/working-paper/…

Paper by Michael McLeay (BoE) and Silvana Tenreyo (LSE) on optimal inflation and the identification of the Phillips curve appears in the 2024 Economic Report of the President released by the Council of Economic Advisers journals.uchicago.edu/doi/full/10.10…

New CEPR Discussion Paper - DP18943 #Capital Flows and #ExchangeRates: A Quantitative Assessment of the Dilemma Hypothesis Ambrogio Cesa-Bianchi Bank of England, Andrea P Ferrero 🇮🇹🇪🇺🇺🇦 University of Oxford, Shangshang Li University of Liverpool ow.ly/o4bt50R15FM #CEPR_IMF #economics

Congratulations to Silvia Miranda-Agrippino and Giovanni Ricco 🇪🇺🇺🇦 for their great paper (and work)! The annual American Economic Journal (AEJ) Best Paper Awards: "The Transmission of Monetary Policy Shocks," Silvia Miranda-Agrippino, and Giovanni Ricco 13(3), (pp.74-107) 2021 London Business School CEPR

Boom-bust cycles in house prices & private debt can lay groundwork for deep financial crises. Prof Andrea P Ferrero 🇮🇹🇪🇺🇺🇦 explores this in recently published paper, 'House Price Dynamics, Optimal LTV Limits and the Liquidity Trap' (joint with co-authors). Read here:lnkd.in/e6KPncvY

🎉 Exciting Opportunity! 🎉 Economic students, join our Ambassadors Programme in partnership with the Bank of England & Resolution Foundation ! - Paid summer internship - Year-long support - Professional mentorship - Career growth Applications open now: tben.co.uk/ambassadors

Our paper "The Brexit Vote, Productivity Growth and Macroeconomic Adjustments in the United Kingdom" with Ben Broadbent Federico Di Pace Richard Harrison and Silvana Tenreyro is now published in REStud! academic.oup.com/restud/advance… The Review of Economic Studies A brief thread about the paper:

Delighted to see my paper with Emile Marin UC Davis Economics, “Capital Controls and Trade Policy”, out at Journal of International Economics. We study #trade and #capitalflow policies in unified setting, asking: how does optimal cross-border #financialpolicy change with #trade policies? Bank of England Research (1/4)