Professor Vasco Carvalho has picked up on Milton Friedman’s famous dictum concerning ‘long and variable lags’, that monetary actions affect economic conditions only after a lag that is both long and variable,
An article in Nature magazine this week notes that weak links in finance and supply chains can be easily weaponised. It quotes the paper Prof. Vasco Carvalho, Prof. Matthew Elliot and John Spray, Supply Chain Bottlenecks in a Pandemic. Which uses economic models to test networks’ robustness to external shocks or attacks
Professor Giancarlo Corsetti, Keith Kuester (University of Bonn), Gernot Müller (University of Tübingen) and and
“According to the received wisdom, flexible exchange rates insulate economies from external shocks. The exchange rate should operate as an automatic shock absorber, and adjusts to soften the impact of the shocks”, says Professor Giancarlo Corsetti, a Professor of Macroeconomics at the Faculty of Economics.
Dr. Kamiar Mohaddes's paper "Country-Specific Oil Supply Shocks and the Global Economy: A Counterfactual Analysis" (joint with M.
Dr. Kamiar Mohaddes's paper "Country-Specific Oil Supply Shocks and the Global Economy: A Counterfactual Analysis" (joint with M.
Dr. Kamiar Mohaddes's paper "Country-Specific Oil Supply Shocks and the Global Economy" (joint with Prof. Hashem Pesaran) was featured in the Albawaba News article "Reneging on the Nuclear Deal Will Isolate America, Empower China, and Distance Europe".