New Economy
The New Economics: Building a Toolkit for the Markets
This article is for subscribers only.
Economic analysis for a market audience is in the midst of a revolution. In the old world, economists waited for lagging official data, worked without robust objective measures as a support for subjective judgments and struggled to bridge the gap between economic theory and market behavior.
Perhaps it shouldn’t be a surprise, then, that the major economic events of the past 20 years—the Great Recession of 2007-09 and 2021’s inflation surge—took most forecasters by surprise.