In recent years, projects have sought to embed distributional aspects within national accounts, with household distributional information set to feature in the next System of National Accounts. There is growing emphasis on capturing all material dimensions of welfare—income, consumption, and wealth—at both macro and micro levels within a unified framework.
We model how a central bank communicates its noisy forecasts (forward guidance) while taking into account its own uncertainty (confidence) and the public’s perception of the bank’s uncertainty (reputation for confidence). This creates a mismatch between the public and central bank’s interpretation of the bank announcement which induces the bank to communicate with partial transparency and deliberate imprecision. Moreover, with higher confidence (lower reputation) announcements are more precise.
In recent years, projects have sought to embed distributional aspects within national accounts, with household distributional information set to feature in the next System of National Accounts. There is growing emphasis on capturing all material dimensions of welfare—income, consumption, and wealth—at both macro and micro levels within a unified framework.
Poland and other countries across Europe that found economic success in an era of collaboration are now facing a crumbling of international alliances.
Plans for a wealth tax, which is dividing France, have gotten popular around the world as inequality has widened and government debt has risen.
The president’s trade truce with China has lowered U.S. tariffs to a level that could pause a longer-term effort to reduce America’s dependence on Beijing.
On Nov. 5, the U.S. Supreme Court will hear one of the most consequential trade cases in decades. The justices will decide whether a president can rely on a Cold War–era emergency law, the International Emergency Economic Powers Act, to impose sweeping import duties on a vast share of what the United States buys from abroad.
In late October Argentina’s president, Javier Milei, won a decisive victory in the country’s midterm elections. The scale of the result caught most political commentators off-guard. It now gives the president the legislative capacity to push through his much touted programme of labour and tax reforms.
The justices face a so-called legitimacy dilemma as they deal with a tricky legal dispute and a president who has made clear he would view defeat as a personal insult.
In mobile home parks, like this one in Fairfax, Va., residents often own the home itself but rent the lot where the home sits. Michael Williamson/The Washington Post via Getty ImagesOne of America’s most affordable paths to homeownership is slipping away.
