Anti-democratic sentiment is on the rise across Latin America. This episode of The Pie explores the evolving political and economic landscape of Latin America, highlighting the region’s experimentation with democratization and the growing threats of authoritarianism. Luis Martinez, Assistant Professor at the Harris School of Public Policy, discusses how economic reforms and pro-market transformations, despite their benefits, have left segments of the population feeling underrepresented and disillusioned.

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Research Briefs·Jun 12, 2024

Discount Factors and Monetary Policy: Evidence from Dual-Listed Stocks

Quentin Vandeweyer, Minghao Yang and Constantine Yannelis
Surprise changes in US monetary policy rates directly affect asset prices, with a 100-basis point surprise cut resulting in a 30-basis point increase in the ratio of stock prices over 5 days; this effect grows after the initial announcement because...
Topics: Monetary Policy
Research Briefs·Apr 16, 2024

Sticky Discount Rates

Masao Fukui, Niels Gormsen and Kilian Huber
Firms often keep their nominal discount rates constant even in the face of changing inflation expectations. Increases in expected inflation therefore lower firms’ real discount rates and raise real investment.
Topics: Monetary Policy
Research Briefs·Apr 11, 2024

On Digital Currencies

Harald Uhlig
In a work summarizing his previous research, the author argues that prices of private digital currencies follow random walks, while for central bank digital currencies the challenge is to address three objectives, price stability, efficiency, and monetary trust, of which...
Topics: Monetary Policy