Scholar
LightNews

Franck Portier

Videos
H-index: 24
Economics 95%
Engineering 2%
more

Reposted by Franck Portier

voxeu.org
@deriddermaarten.bsky.social & Łukasz Rachel show that when quantified using recent estimates of the costs of #climatechange, emissions-adjusted productivity #growth has accelerated in recent years.
cepr.org/voxeu/column...
#EconSky
Graphs of productivity growth and US carbon emissions. Productivity growth has been lacklustre over the past 20 years in most advanced economies. But standard productivity measures ignore the progress that some economies have made in terms of lowering carbon dioxide emissions. This column proposes a method to embed those efficiency gains into existing productivity measures. For traditional (small) estimates of the cost of climate change, the adjustment to productivity for emissions is small. When quantified using recent (high) estimates of the economic costs of climate change, emissions-adjusted productivity growth has accelerated – rather than slowed down – in recent years.
3 5

Reposted by Franck Portier

tkehoe.bsky.social
A beautiful day in Minneapolis, but cold: -15 F, -26 C.

Un día hermoso en Minneapolis, pero frío: -15 F, -26 C.
5

Reposted by Franck Portier, Alberto Bisin

resmedia.bsky.social
📢CALL FOR PAPERS

The Economic Journal Special issue: Climate Change and Inequality
📅Deadline: 28 February 2025
Editor: @albertobisin.bsky.social
➡️Learn more and submit: bit.ly/3YKS3lR

@oupprimary.bsky.social #EconSky
10 15

Reposted by Franck Portier

financialtimes.com
American students turn to UK as Trump takes aim at US universities

https://www.ft.com/content/ebb2b7e7-5dea-47a2-8386-f12eda692c0f
American students turn to UK as Trump takes aim at US universities
Searches for British courses surge following US president’s assault on Ivy League institutions, data shows
www.ft.com
1 31 64

by Franck Portier

fpj-portier.bsky.social
As often, you are right Tim.
1

by Franck Portier

fpj-portier.bsky.social
A cold day in Minneapolis, but beautiful...
tkehoe.bsky.social
Tim Kehoe 🇺🇸🇨🇦🇲🇽🇺🇦 @tkehoe.bsky.social · Feb 17
A beautiful day in Minneapolis, but cold: -15 F, -26 C.

Un día hermoso en Minneapolis, pero frío: -15 F, -26 C.
1 2

by Franck Portier

fpj-portier.bsky.social
I suspect Kim is only interested in engineering exogenous variations in tariffs to better estimate trade elasticities.
tkehoe.bsky.social
Tim Kehoe 🇺🇸🇨🇦🇲🇽🇺🇦 @tkehoe.bsky.social · Feb 4
Prof. Kim Ruhl (UMN PhD 2004) of University of Wisconsin-Madison has been named as one of 3 members of President Trump's Council of Economic Advisors. I admire Kim for his service to our country, and I hope he is able to have a favorable influence on US economic policy.
news.wisc.edu/uw-madison-e...
UW–Madison economics professor Kim Ruhl appointed as member of President’s Council of Economic Advisers
Established by Congress in 1946, the CEA comprises three economists who advise the U.S. president on a wide range of economic policy issues based on data, research and evidence.
news.wisc.edu
1 6

Reposted by Franck Portier, Petra Moser

tkehoe.bsky.social
Prof. Kim Ruhl (UMN PhD 2004) of University of Wisconsin-Madison has been named as one of 3 members of President Trump's Council of Economic Advisors. I admire Kim for his service to our country, and I hope he is able to have a favorable influence on US economic policy.
news.wisc.edu/uw-madison-e...
UW–Madison economics professor Kim Ruhl appointed as member of President’s Council of Economic Advisers
Established by Congress in 1946, the CEA comprises three economists who advise the U.S. president on a wide range of economic policy issues based on data, research and evidence.
news.wisc.edu
5 10

by Franck Portier

by Franck Portier

by Franck Portier

by Franck Portier

Reposted by Franck Portier

Reposted by Franck Portier

by Christian Gollier — Reposted by Franck Portier

by Franck Portier

by Franck Portier

fpj-portier.bsky.social
#Econtwitter I forgot: Paul is presenting « The Dominant Role of Expectations and Broad-Based Supply Shocks in Driving Inflation » @nberpubs Macroannual conf on Friday. Check out there for program, Youtube channel, etc…
t.co/1jVAhdQ8Ju

by Franck Portier

fpj-portier.bsky.social
A link to the paper @ nber
www.nber.org/papers/w32322

by Franck Portier

fpj-portier.bsky.social
A link to the paper @ cepr t.co/0kQjKNktdy

by Franck Portier

fpj-portier.bsky.social
Lesson for monetary policy: raising interest rates to reduce labour market tightness is ineffective. One would have needed to curb down inflation expectations. Communication may be key (nothing in the paper on this).
Thanks for your time. 9/9

by Franck Portier

fpj-portier.bsky.social
With a bit of deviation from full knowledge of the true model of the economy, this generates persistent quasi self-fulfilling inflation episodes. A full model is estimated and shows the dominant role of broad-based supply shock in the recent period. 8/9

by Franck Portier

fpj-portier.bsky.social
Confronted with an increase in many prices, agents put more weight on inflation being high, and revise accordingly their expectations Expectations then feed back into actual inflation. 7/9

by Franck Portier

fpj-portier.bsky.social
Here is our conjecture: agents form expectations by trying to extract a common component from disaggregated price data. Let’s assume that there are broad-based supply shocks increasing many (but not all) prices. 6/9

by Franck Portier

fpj-portier.bsky.social
We then show that given flatness and non persistent supply shocks, a Rat. Exp. model of the Phillips Curve cannot account for the recent inflationary episode.
So it seems we need to rethink our modelling of inflation expectations. 5/9

by Franck Portier

fpj-portier.bsky.social
(c) Inflation expectations (one-year ahead), as measured from the Michigan Survey of Consumers, are persistent and account for most of the recent inflation episode.
We confirm these results using some less structural VAR analysis. 4/9

by Franck Portier

fpj-portier.bsky.social
(b) supply shocks (the residuals from the PC) are almost iid: they cannot account for the persistence of inflation and inflation expectations. (hence the team transitory view) 3/9

by Franck Portier

fpj-portier.bsky.social
Take a New-Keynesian Phillips curve as a measurement tool: we observe that:
(a) the Phillips curve is (very) flat and hasn’t steepened: output gaps cannot account for the recent bout of inflation. 2/9

by Franck Portier

fpj-portier.bsky.social
A thread on our recent cepr/nber paper « The Dominant Role of Expectations and Broad-Based Supply Shocks in Driving Inflation »  with Paul Beaudry and Sev Hou. We aim at explaining US inflation dynamics in general and more specifically after 2020. #Econtwitter 1/9

by Franck Portier

Reposted by Franck Portier

References

Fields & subjects

Updated 1m