Graduates and artificial intelligence. It's certainly worth thinking carefully about these issues. Irrespective of this particular article (which is very interesting), we should closely follow labor market developments in the coming years. Anyway, I think it is premature to draw

Challenging times for central banks! A good overview with a lot of food for thought by Sam Fleming, Claire Jones and Olaf Storbeck in the Financial Times. "The massive bond purchases are being unwound at a time of fierce political criticism of the monetary authorities. The

Indeed, Europeans need to learn to love risk. Although I do not fully agree with Martin Sandbu in his opinion piece, his basic argument is certainly right, in my opinion. Europeans need to learn to love risk: A culture of financial caution stymies innovation and prevents the

Employment data for the US labor market are not published today because of the shutdown. Job growth in previous months was disappointing. In addition, private ADP data for September (published on Wednesday) did not look good. At the same time, the GDPNow model of the Atlanta Fed

US-Arbeitsmarkt: Der monatliche Arbeitsmarktbericht vom ADP Research Institut war denke ich in den vergangenen Monaten doch recht nahe bei den amtlichen Zahlen vom Bureau of Labor Statistics. Dieser Bericht von einem privaten Institut ist momentan noch etwas wichtiger geworden,

Die Alterung der Bevölkerung stellt uns vor einige Herausforderungen. Ich habe den Eindruck, dass die Verbindungen zu unseren künftigen gesellschaftlichen und wirtschaftlichen Entwicklungen manchmal noch nicht so ganz realisiert werden. Man sollte bei diesem Thema aber nicht nur

A very interesting analysis of Argentina's current problems by Brad Setser and Stephen Paduano. By the way, I highly recommend reading everything by Brad Setser. The ending is great... "Without real external adjustment it will soon become clear, to paraphrase one of the

Heute ist unser DIW-Konjunkturbarometer erschienen. Der Barometerwert erhöht sich langsam, aber stetig. Das Konjunkturbarometer des Deutschen Instituts für Wirtschaftsforschung (DIW Berlin) legt im September deutlich zu und liegt nun bei 96,3 Punkten, nach 92 Punkten im August.

For anyone interested in world trade, I highly recommend this excellent text by Alan Wm. Wolff (Peterson Institute for International Economics). "Leave it to the Swiss to find the only effective response to President Donald Trump’s trade policy. Swatch, their famous eponymous

Absolutely, it's crucial to ensure that AI "contributes to productivity growth where it is needed most. Otherwise, we all must ask what the current massive sums of investment are for." https://t.co/vS90HoOUBz

It is with great sadness that I learned about the passing of Malcolm Rutherford. He was a great economic historian with impressive knowledge. It was a fantastic experience for me to visit him and learn from him. He was a very generous and curious researcher. I highly recommend

Ich finde es ja immer gut, wenn man in Deutschland neben dem durchaus berechtigten Pessimismus auch ab und zu die positiven Seiten sieht. Sie gehen mir etwas oft verloren in der Diskussion. Aufhorchen sollte man auch bei den Aussagen zu Unternehmen aus der Schweiz, die sich

A highly relevant topic (because of unfortunate circumstances)! We are looking forward to this webinar with Dominique Foray! Webinar: Opportunities and challenges of better interactions between military and civilian R&D Presentation by Dominique Foray (Professor Emeritus EPFL,

A highly relevant topic (because of unfortunate circumstances)! We are looking forward to this webinar with Dominique Foray! Webinar: Opportunities and challenges of better interactions between military and civilian R&D Presentation by Dominique Foray (Professor Emeritus EPFL,

It's always useful to study the perspective of the Secretary of the Treasury of the United States on monetary policy and central bank independence (irrespective of whether you agree or disagree with him). "The Fed’s New “Gain-of-Function” Monetary Policy" by Scott Bessent. "On

While I only partly agree with The Economist, this article certainly has a point! "Would an all-out trade war be better? Donald Trump has so far avoided retaliation, which might carry a cost of its own" "In most senses, the absence of retaliation is a blessing. It has limited

Many people are unaware of this – not only abroad, but, surprisingly, also in Switzerland! Switzerland’s central bank "has quietly become one of the world’s biggest tech investors, amassing a stock portfolio that is equivalent in value to nearly a fifth of the national economy’s

We are looking forward to this webinar with Dominique Foray! Webinar: Opportunities and challenges of better interactions between military and civilian R&D Presentation by Dominique Foray (Professor Emeritus EPFL, Chair of Economics and Management of Innovation; Swiss Science

I am looking forward to this webinar with Spyros Andreopoulos, whom I appreciate a lot! Webinar: Central Banks and the End of Stability (September 17, 12:00 – 13:00 CEST) Presentation by Spyros Andreopoulos (Thin Ice Macroeconomics, Ex-ECB, BNP Paribas, Morgan Stanley).

More bad news for the Chinese economy Industrial production "only" grew 5.2% in August (compared to August 2024). In July, it had expanded by 5.7%. Total retail sales of consumer goods "only" grew 3.4% year-on-year (less than the growth rate of 3.7% in July). No major economy