macroeconomics

The Macroeconomics of Parties' Tax and Spending Plans

Most economic analyses of parties’ tax and spending promises treat the government’s budget like that of a household, ignoring the impact of proposed policies on the economy.  This briefing aims to fill this gap by providing a macroeconomic assessment of announced fiscal policies. It focuses on:

A Century of High Frequency UK Macroeconomic Statistics: A Data Inventory

This paper provides an inventory of the available macroeconomic statistics in the UK for the last hundred years or so.  The focus is on documenting the higher frequency (daily, monthly and quarterly) macroeconomic data that are available after the World War 1, rather than longer run annual time series which has been the focus of other collections.  It discusses some of the challenges that need to be overcome in order to create a continuous historical dataset over this period.  The inventory follows the structure of the Economic Trends Annual Supplement (ETAS) that was produced for many year

The Indeterminacy Agenda in Macroeconomics

This article surveys a subset of literature in macroeconomics which embraces the existence of multiple equilibria. This indeterminacy agenda in macroeconomics uses multiple-equilibrium models to integrate economics with psychology. Economists have long argued that business cycles are driven by shocks to the productivity of labour and capital. According to the indeterminacy agenda, the self-fulfilling beliefs of financial market participants are additional fundamental factors that drive periods of prosperity and depression.