Hypergranular Macroeconomics
The Bruegel blog of September 4, 2018 reports from the annual Jackson Hole gathering of central bankers. This year the focus was on implications for central banks of the rise of superstar firms and changing market structure. Of particular interest I found the contribution of Antoinette Schoar (MIT Sloan) - as refered by Bruegel: Antoinette Schoar looks at the financial market, argues that the rapid growth of new digital technologies has created a market dynamic, where many institutions outside the central bank system might soon have much more comprehensive, more accurate and also more timely information than the regulators....