Himalaya: Listen. Learn. Grow.

4.8K Ratings
Open In App
title

Macro Waves

BNP Paribas Economic Research

1
Followers
4
Plays
Macro Waves

Macro Waves

BNP Paribas Economic Research

1
Followers
4
Plays
OVERVIEWEPISODESYOU MAY ALSO LIKE

Details

About Us

Stories about money and markets : Weekly talks from the Economic Research department of BNP Paribas with William De Vijlder, Group Chief Economist.

Latest Episodes

#3 – Killing two birds with one stone: fiscal policy to boost growth and meet climate goals

In this final episode, William De Vijlder analyses the responses of European governments tothe crisis generated by the pandemic. How to stimulate and maintain economic growthwhilst at the same time developing an environmental policy that meets the challenges ofclimate change? The “Next Generation EU” plan recently launched by the EuropeanCommission is discussed from this viewpoint.

13 minSEP 8
Comments
#3 – Killing two birds with one stone: fiscal policy to boost growth and meet climate goals

#2 – Towards a lasting change in the way we produce and consume?

In the second episode, François Doux and William De Vijlder discuss the profound socialchanges that the pandemic has brought about. The virus has put health at the centre ofpeople’s worlds, and stimulated new interest in environmental issues. William De Vijlderexplains why these changes in behaviour and mindset could prove to be long-lasting.

12 minSEP 8
Comments
#2 – Towards a lasting change in the way we produce and consume?

#1 – Covid-19, lockdown and the environment

In the first episode of this series of podcasts, William De Vijlder and François Doux will lookat the concept of externalities to consider how lockdowns, by limiting human and economicactivity considerably, have affected the environment. They also examine the notion of“green swan” risks; climate-related risks that could threaten the economy.

6 minSEP 8
Comments
#1 – Covid-19, lockdown and the environment

#3 – Inflation, perceived inflation and expected inflation: very different things

In the final episode, William De Vijlder turns to the psychological factors in play when it comes to inflation. We will see that inflation, perceived inflation and expected inflation are three very different notions. William also looks at relative prices and absolute prices and discusses how the Covid-19 pandemic has affected prices and the nature of demand. Lastly, he will look at the possible impact of the pandemic on the strategy of central banks in terms of monetary policy over the coming years.

12 minAUG 18
Comments
#3 – Inflation, perceived inflation and expected inflation: very different things

#2 – Covid-19 and the outlook for inflation in the real economy

In this second episode, William De Vijlder turns to the real economy and examines the factors that could produce inflation. He draws the distinction between headline inflation and core inflation. Could core inflation, which is affected by tensions in the labour market and the markets for goods and services but also by inflation expectations, see an acceleration under current circumstances? William De Vijlder also looks at the supply side shock and the disruption of global value chains as a result of the pandemic. We will see how changes to these value chains could produce inflation.

10 minAUG 18
Comments
#2 – Covid-19 and the outlook for inflation in the real economy

#1 – Covid-19 and the outlook for inflation: a monetary approach

In the first episode, William De Vijlder emphasizes that the risk of an increase in inflation is high on the list of frequently asked questions by clients. To tackle the negative effects of the pandemic on the economy, central banks have relaxed their monetary policies and increased the size of their balance sheets by making massive injections of liquidity into the system. For Monetarists (followers of the Chicago School, founded by Milton Friedman), this increase in money supply is the root cause of inflation. Will this theory be borne out in the current economic context?

6 minAUG 18
Comments
#1 – Covid-19 and the outlook for inflation: a monetary approach

Following the surge in the debt/GDP ratio, what action will the governments prioritise?

In response to the pandemic, many governments took a vast range of measures to curb the impact of the pandemic on the economy. In this final episode, William De Vijlder shows how the state remains the “balance sheet of last resort” in the event of an economic crisis. He also reviews the current situation of public finances and what this implies in terms of dynamics of the debt/GDP ratio.

9 minJUN 30
Comments
Following the surge in the debt/GDP ratio, what action will the governments prioritise?

Ever bigger central balance sheets raise question about where is the limit

Central banks have played a key role in supporting the economy during the pandemic-induced recession. To do so, they increased the size of their balance sheet. William De Vijlder explains the mechanisms governing this increase in their balance sheet. Is there any limit on how far it might go? He also explains the concept of direct monetary financing.

12 minJUN 23
Comments
Ever bigger central balance sheets raise question about where is the limit

Dilemma for businesses: reduce debt or invest?

The second episode focuses on non-financial companies. As well as having a considerable impact on their short-term (cash) and long-term assets (imperative of aligning their operational model with new requirements in terms of supply chain resilience), the Covid-19 crisis has obliged businesses to increase their indebtedness. This confronts them with a dilemma whether to strengthen their balance sheet by paying back debt or to maintain a high degree of leverage an invest.

8 minJUN 23
Comments
Dilemma for businesses: reduce debt or invest?

Covid-19, unemployment, human capital and households’ balance sheet

In the first episode, William De Vijlder takes a look at households’ balance sheets by considering how assets and liabilities are influenced by the pandemic. We will also see how the loss of human capital due to the deterioration of the labour market plays a key role in the post-pandemic economic environment.

8 minMAY 28
Comments
Covid-19, unemployment, human capital and households’ balance sheet

Latest Episodes

#3 – Killing two birds with one stone: fiscal policy to boost growth and meet climate goals

In this final episode, William De Vijlder analyses the responses of European governments tothe crisis generated by the pandemic. How to stimulate and maintain economic growthwhilst at the same time developing an environmental policy that meets the challenges ofclimate change? The “Next Generation EU” plan recently launched by the EuropeanCommission is discussed from this viewpoint.

13 minSEP 8
Comments
#3 – Killing two birds with one stone: fiscal policy to boost growth and meet climate goals

#2 – Towards a lasting change in the way we produce and consume?

In the second episode, François Doux and William De Vijlder discuss the profound socialchanges that the pandemic has brought about. The virus has put health at the centre ofpeople’s worlds, and stimulated new interest in environmental issues. William De Vijlderexplains why these changes in behaviour and mindset could prove to be long-lasting.

12 minSEP 8
Comments
#2 – Towards a lasting change in the way we produce and consume?

#1 – Covid-19, lockdown and the environment

In the first episode of this series of podcasts, William De Vijlder and François Doux will lookat the concept of externalities to consider how lockdowns, by limiting human and economicactivity considerably, have affected the environment. They also examine the notion of“green swan” risks; climate-related risks that could threaten the economy.

6 minSEP 8
Comments
#1 – Covid-19, lockdown and the environment

#3 – Inflation, perceived inflation and expected inflation: very different things

In the final episode, William De Vijlder turns to the psychological factors in play when it comes to inflation. We will see that inflation, perceived inflation and expected inflation are three very different notions. William also looks at relative prices and absolute prices and discusses how the Covid-19 pandemic has affected prices and the nature of demand. Lastly, he will look at the possible impact of the pandemic on the strategy of central banks in terms of monetary policy over the coming years.

12 minAUG 18
Comments
#3 – Inflation, perceived inflation and expected inflation: very different things

#2 – Covid-19 and the outlook for inflation in the real economy

In this second episode, William De Vijlder turns to the real economy and examines the factors that could produce inflation. He draws the distinction between headline inflation and core inflation. Could core inflation, which is affected by tensions in the labour market and the markets for goods and services but also by inflation expectations, see an acceleration under current circumstances? William De Vijlder also looks at the supply side shock and the disruption of global value chains as a result of the pandemic. We will see how changes to these value chains could produce inflation.

10 minAUG 18
Comments
#2 – Covid-19 and the outlook for inflation in the real economy

#1 – Covid-19 and the outlook for inflation: a monetary approach

In the first episode, William De Vijlder emphasizes that the risk of an increase in inflation is high on the list of frequently asked questions by clients. To tackle the negative effects of the pandemic on the economy, central banks have relaxed their monetary policies and increased the size of their balance sheets by making massive injections of liquidity into the system. For Monetarists (followers of the Chicago School, founded by Milton Friedman), this increase in money supply is the root cause of inflation. Will this theory be borne out in the current economic context?

6 minAUG 18
Comments
#1 – Covid-19 and the outlook for inflation: a monetary approach

Following the surge in the debt/GDP ratio, what action will the governments prioritise?

In response to the pandemic, many governments took a vast range of measures to curb the impact of the pandemic on the economy. In this final episode, William De Vijlder shows how the state remains the “balance sheet of last resort” in the event of an economic crisis. He also reviews the current situation of public finances and what this implies in terms of dynamics of the debt/GDP ratio.

9 minJUN 30
Comments
Following the surge in the debt/GDP ratio, what action will the governments prioritise?

Ever bigger central balance sheets raise question about where is the limit

Central banks have played a key role in supporting the economy during the pandemic-induced recession. To do so, they increased the size of their balance sheet. William De Vijlder explains the mechanisms governing this increase in their balance sheet. Is there any limit on how far it might go? He also explains the concept of direct monetary financing.

12 minJUN 23
Comments
Ever bigger central balance sheets raise question about where is the limit

Dilemma for businesses: reduce debt or invest?

The second episode focuses on non-financial companies. As well as having a considerable impact on their short-term (cash) and long-term assets (imperative of aligning their operational model with new requirements in terms of supply chain resilience), the Covid-19 crisis has obliged businesses to increase their indebtedness. This confronts them with a dilemma whether to strengthen their balance sheet by paying back debt or to maintain a high degree of leverage an invest.

8 minJUN 23
Comments
Dilemma for businesses: reduce debt or invest?

Covid-19, unemployment, human capital and households’ balance sheet

In the first episode, William De Vijlder takes a look at households’ balance sheets by considering how assets and liabilities are influenced by the pandemic. We will also see how the loss of human capital due to the deterioration of the labour market plays a key role in the post-pandemic economic environment.

8 minMAY 28
Comments
Covid-19, unemployment, human capital and households’ balance sheet
success toast
Welcome to Himalaya LearningClick below to download our app for better listening experience.Download App