Macroeconomic theory suggests that without any outside intervention, the macroeconomy will self-adjust and return to its long-run state after short-term shocks. The decision for policymakers thus boils down to a cost-benefit analysis taking into account factors like intertemporality and risk tolerance — they can either wait and allow the economy to adjust organically, or sink resources into actively trying to stabilize the economy, taking on the risk of further destabilizing it.Continue Reading

The Ukraine conflict represents an existential threat to global food security as some of the world’s largest food exporters: Russia and Ukraine, become embroiled in war. Economics Columnist Sean O’Connell explores what’s happening to world food supplies, and the geopolitical and humanitarian outcomes that come from empty stomachs.Continue Reading