Relative price changes, changes in the price of one good or service relative to others, are often confused with inflation but are fundamentally different. This difference can lead to a misunderstanding of the causes of inflation. In this video, we explain the difference and what it implies for policies to control inflation.
Economic Insights
CORNELL CAPITAL GROUP
From the pandemic lows of March 2020 to the end of 2021, stocks had an incredible run. Earnings were up but so too were P/E ratios. As the market climbed many warned that valuations had become unjustifiably high. With the S&P 500 down nearly 20%, P/E ratios have returned to their historic average leaving many
Download Memo as PDF Looking Back Too often financial market analysis is focused on the issue de jour – jumping from hot topic to hot topic with little reference to what was said in the past. Breaking from this tradition, this quarterly memo takes stock of what we have said in the past to provide perspective
Congrats to Senior Advisor Prof. Bradford Cornell, who along with co-author Prof. Ivo Welch, have released a new book, Global Climate Change. Global Climate Change provides a comprehensive, data driven analysis of climate change from an economic perspective. It provides a pragmatic analysis of the economic challenges and tradeoffs that must be confronted as part of the
Download Memo as PDF Time For a Change? There are two themes that we have stressed in our quarterly memos and in various episodes of our Reflections on Investing video series. The first is that interest rates have been extraordinarily low, particularly relative to the rate of inflation. The second is that stock prices have been
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