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Economics

Micro, macro, development and behavioural economics.

2 papers available

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Economics Master's

Monetary Policy Transmission in Small Open Economies

In a small open economy the exchange-rate channel often dominates the interest-rate channel, inverting the textbook ordering of monetary transmission. This paper examines that inversion using evidence from inflation-targeting economies and considers what it implies for central banks whose mandates were written with a closed-economy model in mind.

703 words 3 min read 1,200 tokens to unlock
Economics Undergraduate

Behavioural Economics and the Limits of Nudge Policy

Nudge policy promised large welfare gains from small, cheap interventions. A decade of replication work has narrowed that promise considerably. This essay reviews the evidence on default effects, framing and salience interventions, and argues that nudges work best precisely where they matter least — and that the political appeal of nudging lies in its avoidance of distributive conflict.

708 words 3 min read 1,200 tokens to unlock