Heterogeneous effects of monetary tightening in response to energy price shocks

10/23/2024 European Central Bank Central banks

This article analyses how monetary policy shapes the aggregate and distributional effects of an energy price shock. Based on the observed heterogeneity in consumption exposures to energy and household wealth, we build a quantitative small open-economy Heterogeneous Agent New Keynesian (HANK) model that matches salient features of the euro area data. The model incorporates energy as both a consumption good for households with non-homothetic preferences as well as a factor input into production with input complementarities.

America’s Shaman-Poets’ Vision for a Better Future

10/10/2024 Ineteconomics Analysis

Author and Jungian analyst Steven Herrmann discusses the concept of "spiritual democracy" as explored in the writings of American poets like Walt Whitman, Herman Melville, and Emily Dickinson.

Summary:
A discussion between Rob Johnson and Steven Herrmann, an author and Jungian analyst, on the concept of "spiritual democracy" as explored in Herman's work and the writings of American poets like Walt Whitman, Herman Melville, and Emily Dickinson. Key points include:

The Deutschmark’s Real Father? A Jewish American Written Out of History.

10/10/2024 Ineteconomics Analysis

In a fresh release from INET’s book series with Cambridge University Press, renowned German economic historian Carl-Ludwig Holtfrerich uncovers the startling truth behind German currency reform usually hailed as the foundation of the post-war German economic miracle: Ludwig Erhard, who cooperated with the Nazis, unjustly claimed the spotlight, overshadowing the real architect, Edward Tenenbaum.

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