UK CPI April 2026: The Energy Price Cap Cut Meets the Iran War Premium
UK CPI fell to 2.8% in April 2026, but the headline conceals a sticky services story, surging motor fuel prices,...
Author: Majid Ali Sanghro
Maximum Likelihood Estimation: Choosing the Parameters That Best Explain the Data
Maximum likelihood estimation chooses parameters that make the observed data most probable. This guide explains the method, its properties, applications,...
Inflation Pass-Through Exchange Rates: How Currency Moves Reach Domestic Prices
Inflation pass-through exchange rates explains how currency depreciation moves through import prices, producer costs, consumer inflation, and expectations.
Core of an Exchange Economy: Blocking Coalitions
core of an exchange economy analysis explains how blocking coalitions restrict feasible trades and why competitive markets shrink the stable...
Contract Curve: Pareto Efficient Allocations
contract curve analysis derives Pareto-efficient allocations in an Edgeworth box by equating two agents’ marginal rates of substitution at tangency...
Giffen Goods: When Demand Curves Slope Upward
Giffen goods are inferior staples whose demand rises with price because the income effect overwhelms substitution. Jensen and Miller's 2008...
Marginal Rate of Substitution: Slope, Concavity, and Choice
The marginal rate of substitution is the slope of the indifference curve at a point and the ratio of marginal...
Hicksian vs Marshallian Demand: Two Curves, One Consumer
Hicksian vs Marshallian demand is the central duality of consumer theory. One holds income constant for empirical work; the other...
Bank of Japan Explained: QQE, Yield Curve Control, and the 2024 Exit
The Bank of Japan explained from its 1882 founding through QQE, yield curve control, and the historic March 2024 exit...
Core CPI Explained: Why the Fed Looks Through Food and Energy
Core CPI explained: why the Fed strips food and energy from the consumer price index to isolate the underlying inflation...