Post-Pandemic Challenges to Traditional Economic Thinking.
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| Title: | Post-Pandemic Challenges to Traditional Economic Thinking. |
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| Authors: | CME Group |
| Source: | Benzinga. 02/16/2023. |
| Abstract: | Inflation has receded from its peak much sooner and more rapidly than many had expected, even if it has been and may continue to be bumpy ride. The Federal Reserve (Fed) has raised rates aggressively and yet unemployment has declined to historically low levels. The picture is complex, and traditional economic thinking is not at all suited either to analyzing an economic shock such as the pandemic or the path and nature of the subsequent rebound. To make some sense of all this, we prefer to think of the economy as if it had a serious health scare. After treatment, the patient is well on the way to full recovery, yet still has some long-term health challenges to work through partly due to the side effects from medications involved. Analytically, our preference is to incorporate some of the tools of physics and complex systems analysis to help provide some perspective and bridge gaps not covered in traditional economic theory. [ABSTRACT FROM PUBLISHER] |
| Database: | Newspaper Source Plus |
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| Abstract: | Inflation has receded from its peak much sooner and more rapidly than many had expected, even if it has been and may continue to be bumpy ride. The Federal Reserve (Fed) has raised rates aggressively and yet unemployment has declined to historically low levels. The picture is complex, and traditional economic thinking is not at all suited either to analyzing an economic shock such as the pandemic or the path and nature of the subsequent rebound. To make some sense of all this, we prefer to think of the economy as if it had a serious health scare. After treatment, the patient is well on the way to full recovery, yet still has some long-term health challenges to work through partly due to the side effects from medications involved. Analytically, our preference is to incorporate some of the tools of physics and complex systems analysis to help provide some perspective and bridge gaps not covered in traditional economic theory. [ABSTRACT FROM PUBLISHER] |
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