Highly recommended!
"Macroeconomic Policies for AI" by Luca Fornaro and Martin Wolf
"We provide a macroeconomic framework to study monetary and fiscal policies for AI."
mwolfunisg.github.io/website/AIsl...
Thought-provoking!
Inaugural address by Hyun Song Shin
"As the economic structure changes, the gap between economic realities and the perceptions of economic agents may widen, and in such case this can even affect the transmission channels of monetary policy."
www.bis.org/review/r2604...
Highly relevant!
"Geopolitical hybrid threats" by Norbert Metiu and Martin Völpel.
"We introduce a novel index to measure geopolitical hybrid threats (GHT) and examine their macroeconomic and financial impact."
www.bundesbank.de/en/publicati...
Our Weekly IMEN Updates & Insights
Our weekly poll within the IMEN network on the future direction of oil prices reflects the significant uncertainty we currently face.
Explore our poll results and weekly highlights here:
imeneconomics.substack.com/p/our-weekly...
Highly relevant!
"Artificial Intelligence and Monetary Policy: A Framework and Perspective on Cyclical Transmission, Structural Transition, and Financial Stability" by Simone Lenzu.
www.newyorkfed.org/research/sta...
Great paper, interesting webinar!
💻 Webinar: Structural Changes in Investment and the Waning Power of Monetary Policy
📢 Speaker: Jacob Weber (Federal Reserve Bank of New York)
⏲️ May 19, 16:00 – 17:00 CEST
REGISTRATION: forms.office.com/r/bpAKB8xAnT
Paper: www.newyorkfed.org/research/sta...
Super interesting!
"Tracking the Credibility Revolution across Fields" by Paul Goldsmith-Pinkham.
"...finance and macro/other fields differ substantially from applied micro in their mention of credibility revolution methods..."
www.nber.org/papers/w35051
Dashboard:
paulgp.com/econlit-pipe...
Super interesting!
"Monetary Policy and Business Cycles in the Data Economy" by Carl-Christian Groh, Oliver Pfäuti, and Farzad Saidi.
opfaeuti.github.io/website/Data...
Highly relevant!
"King Dollar: The Past and Future of the World's Dominant Currency" by Paul Blustein.
amzn.to/48HY1td
IMEN Treasure Trove - What Caught Our Eye (Selection): The macroeconomics of conflicts and recovery, inflation processes after the pandemic, macroeconomic effects of bank regulation, getting started with Claude Code, and much more…
imeneconomics.substack.com/p/imen-treas...
Highly relevant!
"Trade in AI-Related Products" by Michael E. Waugh.
"I develop a large language model (LLM) classification tool that maps HS10 codes in U.S. trade data to products used in the construction and operation of AI infrastructure."
www.minneapolisfed.org/research/sta...
Poll: On April 29, the Fed will decide on its interest rates. What will it do?
open.substack.com/pub/imenecon...
The results of our poll will be available on April 17. You can become an active supporter of our network and see the results across all our platforms.
Super interesting!
"Real Credit Cycles" by Pedro Bordalo, Nicola Gennaioli, Andrei Shleifer, and Stephen J. Terry.
"We embed diagnostic expectations in a workhorse neoclassical model with heterogeneous firms and risky debt."
www.aeaweb.org/articles?id=...
U.S. Economy: While one nowcast (New York Fed) still indicates a growth rate of 2.3%, the two other nowcasts (Atlanta Fed, IMEN) currently point to considerably lower growth.
open.substack.com/pub/imenecon...
Fantastic news!
The John Bates Clark Medal is awarded to Ludwig Straub in recognition of his profound and far-reaching contributions to modern macroeconomics.
www.aeaweb.org/about-aea/ho...
Here is his homepage:
straub.scholars.harvard.edu
Super interesting!
"Central Banking 101" by Mr. Joseph Wang.
"Joseph Wang spent five years studying the monetary system as a trader on the Desk. ...This book is a distillation of his experience that aims to educate and demystify."
amzn.to/3O1BVuT
Super interesting!
"Federal Reserve shocks: which securities really flow?" by Julia Schmidt, Maéva Silvestrini, and Urszula Szczerbowicz.
www.banque-france.fr/en/publicati...
Highly relevant!
"Structural Changes in Investment and the Waning Power of Monetary Policy" by Justin Bloesch and Jacob P. Weber.
www.newyorkfed.org/research/sta...
Very valuable!
"Some Thoughts on AI and Research" by Isaiah Andrews.
"Returns to experimentation are high: these are new tools and are evolving quickly, so I doubt anyone has "solved" the problem of how to best use them (for research or for any other tasks)."
economics.mit.edu/sites/defaul...
This looks like a must-read!
"World War Trade: Conflict, Containment, and the Emergent World Trading Order" by Richard Baldwin
cepr.org/publications...
Highly relevant!
"Rethinking global imbalances: drivers, risks, and policy priorities" by Cesa-Bianchi, Christen, Denton, Dogan, Dison, Hjortsoe, Joy, Martin, Ostry, Vicquery, and Whitaker
Discussion Paper:
www.bankofengland.co.uk/paper/2026/r...
Blog post:
www.bankofengland.co.uk/bank-insight...
Super interesting!
"In the Fed’s Mind" by Ali Kakhbod, Amir Kermani, and Bernardo Maciel.
www.nber.org/papers/w35016
IMEN Treasure Trove - What Caught Our Eye (Selection): Import tariffs and monetary policy, the cost of closing the Strait of Hormuz, and much more…
open.substack.com/pub/imenecon...
Super interesting!
"A UK-HANK model" by Daniel Albuquerque, Ed Hill, Sean Lavender, Jamie Lenney, and Alberto Polo.
www.bankofengland.co.uk/-/media/boe/...
How strong is the U.S. economy?
Several nowcasts currently point to solid economic growth in the first quarter of 2026, but downside risks are mounting.
These three nowcasts are currently clustered in a narrow range of 1.9-2.1 percent.
open.substack.com/pub/imenecon...
"Chris Sims’ contribution to economics" by Francesco Bianchi, Marco Del Negro, Giorgio Primiceri, and Frank Schorfheide.
"Chris Sims, who passed away in March 2026, reshaped modern macroeconomics by insisting that theory and data speak together."
cepr.org/voxeu/column...
Challenging times for the global economy!
"We expect global economic output to increase by only 2.9 percent in 2026."
"In the United States, inflation has been elevated for several years, which could raise inflation expectations."
Global Economy Flash:
imeneconomics.substack.com/p/global-eco...
Food for thought!
"Reviewing the Federal Reserve’s 2025 Monetary Policy Framework Review" by Bryan P. Cutsinger, Peter N. Ireland, and William J. Luther.
irelandp.com/papers/fedre...
Poll: Where do you expect Brent spot prices (in USD/barrel) to be at the end of June?
open.substack.com/pub/imenecon...
Really cool!
"Global Trade Alert is now available for Claude users. You can ask questions about trade policy in plain language and get verified, source-cited answers drawn directly from our database."
globaltradealert.org/blog/gta-evi...