Carsten Jung
@carsjung
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Head of macroeconomics & AI @IPPR. Former @bankofengland economist and @IMFnews fellow.
Joined June 2016
Thank you for your response, Jeremy. I'd highlight five points in return. (1) Given you didn’t repeat your claim that borrowing to invest would be hugely inflationary, are you no longer making this claim?
1/2 I disagree with you Carsten! Nobody is disputing the need for more investment in the economy - the central purpose of the Autumn Statement was to start to close the investment gap with Germany and France. From a low base, but look at how we’ve been doing since the pandemic...
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@BaccmaConsult @IPPR @BBCr4today I’d argue they rarely tried in earnest.. I think though AI will force us to have a good crack at it
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Really great to be on the Today Programme this morning, to talk about what I call ‘The new politics of AI’. AI policy should be much more outcomes oriented and mission-driven. More on this soon…
AI will only do good things - like help us cure cancer - if we make it do good things. Currently, our politics is not doing enough to steer it in the right direction. 📻 @carsjung on @BBCr4today 👇
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RT @Frencheconomics: I do sometimes wonder who writes these headlines. Trade-weighted sterling is <2% below its nine-year high. https://t.c…
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Gas prices are up 20% over the last 3 months - this will increase inflation somewhat in the middle of 2025. (Brace for the headlines!) Important reminder that @Ed_Miliband's drive towards cutting gas from heating and electricity is key for reducing macro volatility.
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Interesting change of tone in today's @bankofengland MPC statment, now also emphasising the * downside * risks to inflation.
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@BenZaranko Looking forward to reading! Quick q: their preferred policy sounds very much Germany's 'energy price break' appraoch, which was based on past energy used and capped. Is this right?
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Sounds like you should update your priors on this, @s8mb and @NJ_Timothy?
Is @StarkClimate's scepticism of AI power demand projections, b/c they ignore increased efficiencies in how AI operates, a widespread view? I would have thought Jevons’s Paradox would apply and more efficiency would → more demand.
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@dc_lawrence Yeah, I also wonder if the Texas example shows that benefits of planning reform might transpire more quickly than the long time horizons sometimes assumed.. curious if people have more info on it
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