Bank of England: Do AI Models Share Our Inflation Attitudes? (Explained)

Bank of England: How Central Bank Communication Shapes Public Inflation Expectations (Explained)

This episode dives into a Bank of England research paper by Eric Tong and Rennae Cherry, titled "Central bank communications that reach the public." We explore how central bank messages, as encountered through news media, actually shape households' inflation expectations, challenging the traditional view that central bank communication rarely reaches the public. Learn why measuring communication as the public experiences it is crucial for understanding its impact on financial stability and macroeconomics, and share your thoughts at feedback@econpod.org. Find the full paper at https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2026/central-bank-communications-that-reach-the-public.pdf This episode explains a real academic paper in plain English for a general audience. Source paper: Central bank communications that Eric Tong and Rennae Cherry - Bank of England Keywords: central banking, inflation expectations, macroeconomics, financial stability, monetary policy, public communication, textual analysis, economic forecasting, media influence

Bank of England: Digital Money, Private Issuers, and Preserving "Monetary Singleness" (Explained)

This episode breaks down a new Bank of England research paper that explores how rapid innovation in digital payments and new private digital monies challenge the idea that all money should trade at par—a concept known as "monetary singleness." Discover when small deviations from par are efficient and why central bank reserves and cash are crucial for financial stability in an evolving digital landscape. Read the full paper at https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2026/a-model-of-monetary-singleness.pdf, and share your thoughts at feedback@econpod.org. This episode explains a real academic paper in plain English for a general audience. Source paper: A model of monetary singleness - Bank of England Keywords: Monetary Singleness, Digital Money, Central Banking, Financial Stability, Payment Systems, Cash

Federal Reserve Bank of New York Staff Reports: Federal Reserve Bank of New York: Decoding Demand Shocks in Retail & Services with Foot Traffic Data (Explained)

This episode dives into a Federal Reserve Bank of New York Staff Report that uses big data from foot traffic to uncover hidden demand shocks affecting businesses in New York City. We explore how retail, service, and health establishments experience highly varied and unpredictable changes in customer demand, challenging traditional economic assumptions. Hear the plain English explanation of this cutting-edge research and share your thoughts at feedback@econpod.org. This episode explains a real academic paper in plain English for a general audience. Source paper: NO. 1191 Shocks from Foot Traffic Marina Azzimonti | David Wiczer | Yang Xuan - Federal Reserve Bank of New York Staff Reports https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr1191.pdf?sc_lang=en Keywords: Foot Traffic, Demand Shocks, Retail Economics, Service Sector, Big Data, Economic Forecasting

Bank of England: Do AI Models Share Our Inflation Attitudes? (Explained)

This episode dives into a new Bank of England research paper exploring whether Large Language Models like GPT-3.5 Turbo can form inflation perceptions and expectations similar to human households. Using a clever quasi-experimental design, the study compares LLM outputs to survey data, revealing how AI responds to economic signals and its surprising sensitivity to food inflation. Discover the implications for economic forecasting and social science research, and share your thoughts at feedback@econpod.org. Find the full paper here: https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2026/inflation-attitudes-of-large-language-models.pdf This episode explains a real academic paper in plain English for a general audience. Source paper: Inflation attitudes of large Nikoleta Anesti, Edward Hill and Andreas Joseph - Bank of England Keywords: inflation, large language models, AI, economic forecasting, central banking, macroeconomics

FEDERAL RESERVE BANK OF ST. LOUIS: The Economics of Narcoterrorism – Funding Terror Through Drugs and Countering It (Explained)

This episode breaks down a recent Federal Reserve Bank of St. Louis research paper, offering a strategic economic analysis of narcoterrorism in plain English. We explore how terrorist groups extort drug farmers for funding, how developed nations use crop destruction as a counterterrorism tool, and the complex interplay of drug markets, terror financing, and international policy. For questions or discussion, email feedback@econpod.org. This episode explains a real academic paper in plain English for a general audience. Source paper: FEDERAL RESERVE BANK OF ST. LOUIS A Strategic Analysis of Narcoterrorism: Counterterrorism, Terrorist - FEDERAL RESERVE BANK OF ST. LOUIS https://s3.amazonaws.com/real.stlouisfed.org/wp/2025/2025-032.pdf Keywords: Narcoterrorism, Counterterrorism, Drug Trafficking, Terrorist Financing, International Economics, Security Policy