The health of the US public pensions system is deteriorating. The latest figures reveal that retirement plans have less than three-quarters of the assets they need to pay current and future retirees.

Larry Summers writes an eloquent FT column "A world stumped by stubbornly low inflation" Market measures of inflation expectations have been collapsing and on the Fed’s preferred inflation measure are now in the range of 1-1.25 per cent over the next decade.

Stanford researcher Joseph Felter found that direct cash assistance to households in the Philippines decreased insurgent-led conflicts and weakened their influence in those villages.

John B. Taylor, the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University, has been recognized with the 2016 Central Banking Award for Economics.