📢📢 Jobs Jobs 📢📢 Fancy coming to the sunny side of Europe in Tuebingen Universität Tübingen? Join us as Tenure-Track Professor for Economic History and Empirical Macroeconomics econjobmarket.org/positions/11204 Join us as PostDoc in International/Innovation econjobmarket.org/positions/11071 Happy to chat!

New paper on Monetary Policy for the Green Transition. Key point: Fiscal and credit policies that subsidize green investments may be key to reconcile low inflation, high economic activity and an effective green transition. bis.org/events/green_s…

A 🧵 on the pros and cons of reducing the trade deficit: a productivity perspective, based on old and new academic research. Bottomline: unregulated trade deficits may hurt productivity, but reducing the deficits is not the best way to fix this.

📢Apply now for Kiel's new PhD Programme in International Economics. What makes us unique? A clear thematic focus, excellent conditions, 40 years of experience & outstanding external professors. Join us in our goal to become Europe's leading programme in International Economics👇

Last Sunday Mario Draghi delivered a forceful speech, arguing that Europe has fallen into a vicious cycle of weak domestic demand, insufficient macroeconomic stimulus, depressed investment and low productivity growth. Here's a 🧵 on recent research related to this view.

I have a new website - I am quite proud of it, check it out! mwolfunisg.github.io/website/

HSG-Professor Martin Wolf erhält einen der wichtigsten Schweizer Förderbeiträge für seine Forschung unisg.ch/de/newsdetail/…

Stay tuned for the first paper coming out of this agenda, to be released soon: „Fiscal Stagnation“, joint with Luca Fornaro

Interesting note by Krugman. But is it true that fast growing economies typically attract capital inflows and run trade deficits? A 🧵 on a recent literature challenging this notion, and on why China's trade surpluses could be a problem for global productivity growth.

Olivier Blanchard argues that we should understand better the macroeconomics of the medium run, and I could not agree more. Since I have been working on this for a while, let me show you why this is a promising field for young researchers!

New paper with Martin Wolf on Fiscal Stagnation. Key insights: 1) High public debt may push the economy into fiscal stagnation, i.e. a persistent state of low growth and high fiscal distortions. 2) Pro-growth policies are crucial to exit stagnation, but they require credibility.

New paper connecting high public debt and low growth, with Luca Fornaro. Have a look at this great thread by Luca summarising the paper

Thought-provoking! "Fiscal Stagnation" by Luca Fornaro and Martin Wolf. "This paper argues that taking into account the impact of fiscal policy on productivity growth is crucial to understand debt sustainability. Our model has two key features: i) financing large primary

New CEPR Discussion Paper - DP20149 Fiscal Stagnation Luca Fornaro Luca Fornaro CREI UPF Barcelona Barcelona School of Economics, Martin Wolf Martin Wolf Universität St.Gallen (HSG) ow.ly/Fljq50VFqeh #CEPR_IMF #CEPR_MEF #CEPR_MG #EconTwitter

Much to be learned from Luca in this podcast episode. He explains how macroeconomic policies shape productivity growth, and conversely, how growth matters for the design of macroeconomic policies. This link is key for many macroeconomic issues, but absent in typical macro models

Fiscal stagnation Luca Fornaro Luca Fornaro CREI UPF Barcelona Barcelona School of Economics, Martin Wolf Martin Wolf Universität St.Gallen (HSG) ow.ly/HIEp50W2nk8

Mein Kiel Report "Quo vadis, USA?" ist da (Link im naechsten Tweet). Ich bin Kiel Institute (IfW Kiel) und Moritz Schularick sehr dankbar, dass ich mal etwas ausfuehrlicher meine Gedanken zur aktuellen politischen, gesellschaftlichen und wirtschaftlichen Situation in den USA aufschreiben konnte.

Who is going to suffer more from US tariffs on EU goods? In the short run, US consumers are likely to be the biggest losers, because of higher prices x.com/R2Rsquared/sta…. But in the medium run EU may suffer more, through a decline in productivity growth.

Level up in HANK modeling! BASEforHANK Winter School DIW Berlin, Dec 8–17, 2025. Week 1 online, Week 2 in Berlin. Hands on with BASEtoolbox.jl + Julia. Christian Bayer Benjamin Born Ralph Lütticke. Apply by Sept 21—details in the tweet below. #HANK #Econ

Some thoughts on the interactions between public debt, public investments and productivity growth in the euro area. Key risk is that the union ends up being split between a fiscally sound/high growth block and a fiscally stagnant one. ecb.europa.eu/pub/pdf/sintra…