Podcasts by Macro Waves
Stories about money and markets : Weekly talks from the Economic Research department of BNP Paribas with William De Vijlder, Group Chief Economist.
Further podcasts by BNP Paribas Economic Research
Podcast on the topic Wirtschaft
All episodes
#2 - Looking beyond the peak from 2023-10-19T07:15:02
In the second and last episode of the series on central banks and their fight against inflation, Andrew Craig and William de Vijlder are looking beyond the peak and discuss what will come next. Amo...
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#1 - Central banks and their fight against inflation. Job done? from 2023-10-12T09:36:47
In this series of two podcasts Andrew Craig, co-head of the Investments Insight Center at BNP Paribas Asset Management, interviewed William de Vijlder, group chief economist of the Economic Researc...
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#3 - National recovery plan Espana 2050: Towards a productivity recovery? from 2023-05-31T07:00:01
In this third and final episode of the series dedicated to labour productivity in Spain, signs of encouragement for a recovery in Spanish productivity are presented, in particular thanks to a natio...
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#2 - Why Is Productivity Growth So Low? from 2023-05-24T07:00:02
In this second episode of the series on labour productivity in Spain, Hélène Baudchon and Guillaume Derrien discuss the three main factors that explain Spain's low productivity.
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#1 - Productivity Spain's Achilles'Heel from 2023-05-17T16:00:41
In this series of three podcasts "Focus on Labour Productivity in Spain" Hélène Baudchon, Deputy Chief Economist and Head of the OECD team, BNP Paribas Economics Department and Guillaume Derrien, S...
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AudioBrief | The link between global growth and international trade from 2023-03-01T11:46:52
In this new AudioBrief, Guillaume Derrien, economist within the OECD team, discusses the close relationship between global growth and the evolution of international trade.
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#2 – Stagflation: Is it really back? from 2022-06-16T15:17:48
Is stagflation back? In this series of podcasts, William De Vijlder, Group Chief Economist of BNP Paribas, discusses the issue of stagflation, a term that has been increasingly used in the media in...
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#1 – Stagflation: Reminiscences of the past from 2022-06-10T15:30:03
The convergence of several factors of tension – the health crisis, the war in Ukraine, the tensions in supply chains – is leading us to speak more and more of stagflation. The term is a contraction...
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#3 – Killing two birds with one stone: fiscal policy to boost growth and meet climate goals from 2020-09-08T14:19:12
In this final episode, William De Vijlder analyses the responses of European governments to
the crisis generated by the pandemic. How to stimulate and maintain economic growth
whilst at t...
#2 – Towards a lasting change in the way we produce and consume? from 2020-09-08T14:17:41
In the second episode, François Doux and William De Vijlder discuss the profound social
changes that the pandemic has brought about. The virus has put health at the centre of
people’s wor...
#1 – Covid-19, lockdown and the environment from 2020-09-08T14:15:50
In the first episode of this series of podcasts, William De Vijlder and François Doux will look
at the concept of externalities to consider how lockdowns, by limiting human and economic
a...
#3 – Inflation, perceived inflation and expected inflation: very different things from 2020-08-18T15:28:16
In the final episode, William De Vijlder turns to the psychological factors in play when it comes to inflation. We will see that inflation, perceived inflation and expected inflation are three very...
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#2 – Covid-19 and the outlook for inflation in the real economy from 2020-08-18T15:26:06
In this second episode, William De Vijlder turns to the real economy and examines the factors that could produce inflation. He draws the distinction between headline inflation and core inflation. C...
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#1 – Covid-19 and the outlook for inflation: a monetary approach from 2020-08-18T15:15:01
In the first episode, William De Vijlder emphasizes that the risk of an increase in inflation is high on the list of frequently asked questions by clients. To tackle the negative effects of the pan...
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Following the surge in the debt/GDP ratio, what action will the governments prioritise? from 2020-06-30T10:40:03
In response to the pandemic, many governments took a vast range of measures to curb the impact of the pandemic on the economy. In this final episode, William De Vijlder shows how the state remains ...
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Ever bigger central balance sheets raise question about where is the limit from 2020-06-23T10:30:04
Central banks have played a key role in supporting the economy during the pandemic-induced recession. To do so, they increased the size of their balance sheet. William De Vijlder explains the mecha...
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Dilemma for businesses: reduce debt or invest? from 2020-06-23T09:37:19
The second episode focuses on non-financial companies. As well as having a considerable impact on their short-term (cash) and long-term assets (imperative of aligning their operational model with n...
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Covid-19, unemployment, human capital and households’ balance sheet from 2020-05-28T15:41:52
In the first episode, William De Vijlder takes a look at households’ balance sheets by considering how assets and liabilities are influenced by the pandemic. We will also see how the loss of human ...
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#3 – Central banks: Addressing the policy dilemma from 2020-03-11T06:00:11
In the third podcast, William De Vijlder shows how a central bank’s persistently accommodating monetary policy to bring inflation in line with the target can have a negative impact over the long te...
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#2 – Central banks: the trade-off between inflation and financial stability from 2020-03-04T06:00:05
How to strike the right balance between inflation and financial stability has been a source of debate for decades. In this second podcast, William De Vijlder shows how the central banks give priori...
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#1 – Central banks: current objectives and the issues they raise from 2020-02-26T06:00:19
In this podcast, we look at central banks policy objectives, which sometimes differ. The ECB’s top priority is to meet its inflation target, whereas the Fed is targeting both inflation and full emp...
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#03 – The paradox of saving: individual rationality, macroeconomic headache from 2019-11-20T06:45:09
In this last episode, William De VIjlder will show us how negative rates can have an unfavourable impact on financial income and notably retirement savings capital. Other questions arise: are these...
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#02 – Negative interest rates, a blessing for shoppers, a headache for savers from 2019-11-13T06:45:17
How negative rates can impact households and their savings? In this second part, we will see with William De Vijlder that there is no easy answer to this question given the heterogeneity of househo...
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#01 – Negative nominal interest rates: causes from 2019-11-06T11:29:02
In the first episode of this podcast, William De Vijlder analyses the causes of negative rates while explaining how they can brought about the “paradox of thrift”. What does this concept cover? And...
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#03 – Central banks, inflation targeting and financial stability from 2019-09-18T05:45:15
What is the position of central banks/organizations such as BIS (Bank for International Settlements), ECB (European Central Bank), the Fed (Federal Reserve) and the Bank of Japan on the issue of fi...
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#02 – A brief history of financial instability from 2019-09-11T05:45:05
2008 crisis was a major financial crisis but it was far from unique. William De Vijlder gives an account of some of the most significant economic crises with a particular focus on the 20th century....
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#01 – Financial (in)stability: definition, drivers from 2019-09-04T10:25:20
In this episode, William De Vijlder gives a definition of what financial stability is: not only does it create a favourable environment for the smooth functioning of the economy but it also helps a...
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#04 – Climate change: public sector from 2019-07-22T05:30:12
This last episode focuses on the impact of climate risk on the public sector balance sheet. How will states address the challenge of climate change? How will they manage the climate debt? Will they...
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#03 – Climate change and the governance of non-financial companies from 2019-07-15T05:30:18
Climate change can impact business in many ways. We all know the effects of natural disasters, for example. But today, the views of users and consumers should be taken into account. So, climate cha...
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#02 – Climate change: household balance sheets from 2019-07-08T05:30:24
How does climate change impact the household balance sheet? Households’ assets and liabilities may be subject to climatic hazards. In many countries, this lesson was learned the hard way. That is w...
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#01 – Climate change puts balance sheets at risk from 2019-07-01T17:02:16
Climate change puts at risk the balance sheets of numerous actors, such as households, companies and the public sector. The first episode of this series of podcasts sets the general framework, Will...
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#03 – Geopolitical risk and business strategy from 2019-06-20T05:35:18
What business strategy should be adopted against geopolitical risks? The third and last episode describes two approaches "coping with" or "avoiding", that is to say to accept the risk or to guard a...
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#02 – Geopolitical risk: impact on business from 2019-06-13T05:35:16
A consequence of globalization is the increasing exposure of companies to geopolitical risk. How can this risk be monitored? How does it affect markets and the economy? In this second episode, Will...
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#01 – Geopolitical risk: definition from 2019-06-06T13:33:34
The slowdown of the global economy, more and more visible since the end of 2018, has many causes. Among them concern about the pace of US monetary tightening but also about rising trade tensions, i...
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#03 - Inflation targeting: which future? from 2019-04-29T05:45:15
In an environment of extremely low interest rates, central banks' room for manoeuvre to boost growth in the event of a recession is limited. So what monetary policy should be pursued today? William...
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#02 - Inflation targeting: experience and assessment from 2019-04-23T05:45:08
This second episode analyses the role of inflation targeting in the big disinflation of the 90s, the implications for growth, volatility of growth and inflation, real interest rates and inflation e...
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#01 - Inflation targeting: origins and rationale from 2019-04-15T14:13:37
In this first episode, William De Vijlder discusses why low and stable inflation is important and how this led, about 30 years ago, in New Zealand, to introduce a monetary policy based on inflation...
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#03 - Where climate change and inclusive growth meet from 2019-03-14T06:55:22
Climate change and inclusive growth are closely linked. Low income households will tend to suffer more from the negative economic consequences of global warming. Policy measures to reduce carbon em...
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#02 - Inclusive Growth: The challenge at the country level from 2019-03-07T06:55:20
Addressing inequalities is one of the core challenges for inclusive growth. This episode discusses why, within a given country, inclusive growth is key in tackling inequality and what can be done a...
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#01 - Inclusive Growth: Why is it an issue from 2019-02-28T16:37:08
In this new series, William De Vijlder promotes the idea that growth can only be sustainable if it is inclusive. Indeed, poverty reduction on a lasting basis requires inclusive growth that allows p...
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#03 - Market psychology during economic downturns from 2019-02-11T06:00:10
The psychology of a recession, Episode 3 - The stylised facts of a recession (considerable drop in equity prices, widening of the spread between corporate and government bonds) imply that during a ...
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#02 - Slowdowns, households, companies and banks from 2019-02-04T06:00:11
The psychology of a recession, Episode 2 - Slower growth will raise the concern of households that unemployment will increase. Greater caution means less spending. Companies will scale back investm...
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#01 - Why recessions trigger fears from 2019-01-30T15:50:22
The psychology of a recession, Episode 1 - A significant growth slowdown triggers anxiety that worse is to come. Households and companies hate uncertainty, confidence drops and a negative spiral de...
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#03 - Globalization tomorrow: the inclusion challenge from 2019-01-08T14:27:10
Third and last episode of the series dedicated to Globalization. In past episodes its limits were mentionned, but what's new for the future of globalization? William De Vijlder discusses three leve...
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#02 - Globalization today: from multi to bilateralism from 2019-01-08T14:27
Second episode of the bseries of three dedicated to Globalization. William De Vijlder analyses the transition from multilateralism to bilateralism, in the USA-China relations in particular. What ar...
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#01 - Globalization: an historical perspective from 2019-01-08T14:26:47
First episode of three dedicated to Globalization. What made globalization possible? In this first episode, William De Vijlder, the chief economist of BNP Paribas, distinguishes four drivers of g...
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#03 - Green Finance: how to influence behaviors? from 2018-11-22T15:08:56
Last episode of the series of three podcasts devoted to green finance. Responsible finance gives sense to our investments. How to influence stakeholders (households, businesses, markets finances, p...
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#02 - Green Finance: 3 growth scenarios from 2018-11-22T15:08:47
Second episode of the series of three dedicated to Green finance. Green finance is a vehicle for financing the investments needed for sustainable economic development. Is climate change an opportun...
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#01 - Green Finance: origins and perspectives from 2018-11-22T15:08:38
First episode of three dedicated to Green Finance. Since the end of the 70's, we have been talking about the climatic consequences of economic development. How does finance respond to the needs of ...
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#03 - The new frontier from 2018-10-30T06:50:13
Last episode of three dedicated to the tenth anniversary of the 2008 crisis and the Great Recession. Considering that the US business cycle is well advanced, time has come to assess which recipes c...
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#02 - Back to normal from 2018-10-16T07:19:33
Second episode of three dedicated to the tenth anniversary of the 2008 crisis. After the Great Recession of 2008 William De Vijlder discusses the end of quantitative easing and the move towards a m...
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#01 - The only game in town from 2018-10-05T15:23:42
First episode of three dedicated to the tenth anniversary of the 2008 crisis. What happened in 2008? And how has this global shock changed the role of central banks and impacted financial circles? ...
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