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In the Spring/
how the period
after the global
nancial crisis saw a recovery in
housing markets, but also a surge in
populism and the revolution brought
about by big data. Here, we go one
step farther. Future challenges will
encompass going from a recovery in
the housing sector to a new boom.
Thiswould not only pose new threats
tomacroeconomic and nancial
stability that central banks will have
to tackle, but might also contribute to
an even wider gap between young
renters and wealthier homeowners.
Populism has spun off into a new
wave of protectionism. Astechnology
and the wave of big data advance, so
will the economy andpolicymaking.
New policy measures will have to
be supported by more complex
sets of data with availability beyond
traditional ofcial sources and by
new communication strategies.
The large repository of data
available throughout the digitalized
domain provides vast, unexplored
opportunities for policymaking. And
new opportunities and challenges
in the digital era can arise with the
possible digitalization of money as
we know it.
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3 Adieu to Maury
5 Frontiers of Monetary Policy:
Interview with Doug Laxton
on the new book Advancing
the Frontiers of Monetary Policy
with Tobias Adrian
and Maurice Obstfeld
9 Housing Strikes Back:
Remaining Attuned to Risks
12 Tariffs in a Globalized World
15 Policymaking: New Frontiers
Using Big Data
18 A World with Central Bank
20 The 19th Jacques Polak
Annual Research Conference:
A Note from the Organizer