Ricardo Reis
@R2Rsquared
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AW Phillips Professor of Economics @LSEecon. Colunista @expresso. Director @CFMUK
London, England
Joined November 2012
Maybe not @gilliantett, since : "alternative theories not as opposing views, but rather as actively relying on some economic mechanisms while passively allowing other economic mechanisms to accommodate" @lcastillomart
https://t.co/nk4nVetdXW
https://t.co/KOF140Uce2 via @ft
ft.com
Old assumptions about expectations and targets can no longer be relied upon
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This article’s description of how the UK’s budget came about is a bit shocking. At many stages, there was a striking sidelining of sound economic thinking in order to pursue political opportunism.
observer.co.uk
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The macro crowd @CFMUK at @LSEEcon is hiring our pre docs for next year. See below how to apply. It is a landmark year for us as our very first predoc, @AdriCouturier hits the academic job market this year (check out his excellent work!)
Macro at LSE is hiring pre docs for September 2025! Come and work in the best city in the world, on cutting edge macro with me, Ethan @ilzetzki, Ricardo @R2Rsquared, Matthias (@mdoepke) and Ben @ben_moll! Past predocs have gone to places like Harvard, LSE and Northwestern.
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Please support our PhD student Isaac 🙏 https://t.co/A9ViwHIRlm
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💱Join us for this upcoming @CFMUK lecture. Pablo Hernández de Cos, General Manager of @BIS_org will discuss fiscal influences over macro-financial stability #LSEEvents 📅 Thursday 27 November 🕡 6.30pm 📍 Old Theatre, LSE and online Register here 👇 https://t.co/L5LSUfTYyt
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I will be presenting evidence to the @UKHouseofLords Economics Affairs Committee, Tuesday 18 Nov 2025 at 15:00 GMT. You can view it here: https://t.co/xiAnfUSQo0
committees.parliament.uk
15:00 - Room 2, Palace of Westminster
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Yesterday we held the first edition of the London Macro PhD Workshop! 14 great presentations and lively discussions with PhDs from around London. Thank you to everyone who came and contributed. We hope to repeat it next year!
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Highly recommended! "Financial Repression in the 21st Century" by Ricardo Reis. Mundell-Fleming Lecture delivered at the 26th Jacques Polak Annual Research Conference: The Evolving Landscape of Global Trade and Financial Integration https://t.co/0Je1jf3b3M
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Thank you for the hospitality @KGeorgieva
Professor Ricardo Reis’ lecture at the IMF today, on Financial Repression in the 21st Century, explores how policies designed to ease public debt burdens can also shape external balances and influence the global economy. Watch the lecture here: https://t.co/A53I1pfMNS
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Professor Ricardo Reis’ lecture at the IMF today, on Financial Repression in the 21st Century, explores how policies designed to ease public debt burdens can also shape external balances and influence the global economy. Watch the lecture here: https://t.co/A53I1pfMNS
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I disagree with Pierpaolo Benigno here. To clarify, I agree up to the point: "In that sense, Treasury debt would always be ‘sustainable,’ insofar as the Fed remains solvent—which, operationally, it always is." I disagree with that last assertion. A central bank isn't
ideas.repec.org
A central bank is insolvent if its plans imply a Ponzi scheme on reserves so the price level becomes infinity. If the central bank enjoys fiscal support, in the form of a dividend rule that pays out n
Super interesting food for thought! Is U.S. Government Debt Unsustainable?" by Pierpaolo Benigno "Treasury debt is sustainable not because it is inflated away, but because it is effectively guaranteed by the central bank. That alone is sufficient. Inflation may or may not
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STARTING NOW: @KGeorgieva delivers the introductory remarks at the 2025 Mundell-Fleming Lecture by Ricardo Reis (@R2Rsquared), and moderated by @pogourinchas Watch now: https://t.co/UrOE4UA4lc
#ARCPolak
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Live now
This will be live streamed Friday at 1:30pm EST, 6:30pm UK/PT time, 7:30pm Central Europe 2025 Mundell-Fleming Lecture on “Financial Repression in the 21st Century”
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This will be live streamed Friday at 1:30pm EST, 6:30pm UK/PT time, 7:30pm Central Europe 2025 Mundell-Fleming Lecture on “Financial Repression in the 21st Century”
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On my way to DC to deliver this year’s Mundell-Fleming lecture @IMFNews on Friday. Interested economists in the area can register to join
imf.org
The 2025 IMF Annual Research Conference will bring together academics and policy makers, promote innovative research, and provide a platform for a fruitful exchange of views.
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@R2Rsquared @farmerrf @X I couldn’t agree more, Ricardo. It’s one thing to critique a model and push it forward; it’s another to ignore its impact and the fact that progress is possible because of it.
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I recommend people read the sequence of posts by @farmerrf with a critical view of the NK model. I did not engage in the debate with them and many other great ones on this topic here on @X just because my views are too nuanced for this forum (or, perhaps, I'm just too confused
Note: I spent a lot of time at the start of my career showing that one of the equations was "wrong" and proposing a replacement (Phillips curve and expectations work) and later moved on to doing the same to another (Euler equations and HANK). Useful is the key, not "wrong".
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A highly-recommended light introduction to the important work and ideas of the great @HannoLustig The $38 Trillion Question: An Interview with Stanford Professor Hanno Lustig
stanfordreview.org
Hanno Lustig is the Mizuho Financial Group Professor of Finance at the Stanford Graduate School of Business and a Senior Fellow at the Stanford Institute for Economic Policy Research. Working at the...
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I'm just watching this event: excellent discussions, highly recommended for people who care about the topic. Central bank independence in practice https://t.co/cybaWUjEar via @YouTube
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Indeed! To me, this touches on something quite profound about the relationship between the history of economic thought and economic history itself. For central bankers in the pre-Keynesian era, it seemed self-evident that monetary debasement caused by unfunded public spending
"Resisting fiscal inflation is much harder than resisting Phillips-curve temptations." - Great line!
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