What is a Recession? NBER Rules, Technical Recessions, and Modern Debates
What is a recession? The two-quarter GDP rule is a shortcut, not the official definition. This guide explains NBER methodology...
Macroeconomic Trends and Analysis
Understand the bigger economic picture through macroeconomic trends and analysis
What is Money? A Beginner’s Guide to Functions, Forms, and History
What is money? At its core, money is anything widely accepted as payment. This guide explains its three functions, evolving...
Fiscal Policy vs Monetary Policy: Two Tools, Two Sets of Trade-Offs
Fiscal policy vs monetary policy is not about which tool is better. It is about which job each is institutionally...
Argentina’s Recurrent Defaults: A Case Study in Sovereign Debt and Hyperinflation
Argentina's Recurrent Defaults span nine sovereign defaults since 1827 and three since 2001, with inflation falling from 211% in 2023...
Japan’s Lost Decades: A Case Study in Liquidity Traps and Deflation
Japan's Lost Decades trace a developed economy hitting the zero lower bound in 1995 and finally normalising rates in 2026...
Economics of Inequality: Gini, Lorenz, and the Top 1%
The Economics of Inequality uses the Lorenz curve, the Gini coefficient, and top-share metrics to measure income and wealth concentration...
Lewis Dual-Sector Model: Why Developing Economies Industrialise
The Lewis Dual-Sector Model divides a developing economy into a low-productivity subsistence sector with surplus labour and a capitalist sector...
Harrod-Domar Growth Model: The First Modern Theory of Economic Growth
The Harrod-Domar Growth Model derives long-run growth from the saving rate divided by the capital-output ratio, producing a knife-edge instability...
Economics of Mortgages: How the World’s Biggest Loan Market Works
Economics of Mortgages: the largest global loan market, with unique contract structures, securitisation chains, and government guarantees shaping housing finance,...
Equity Risk Premium Puzzle: Why Stocks Beat Bonds by So Much
Excerpt: The equity risk premium puzzle shows the gap between stock and bond returns is far too large to be...