An economic strategy game where you run the central bank. Built on the IS–PC–MR macroeconomic model. The policy rate, unemployment, inflation, the trade balance. Can you keep the economy clear of overheating and slumps?
unfold_more
On target11.2%
Inflation at target with the output gap closed.
A rising tide lifts all boats0.2%
The leader of a level, jointly growing world.
Survived stagflation3.1%
Steered the economy out of stagflation into stability.
Overtook the leader6.0%
Became the world's largest economy.
By the textbook11.5%
The policy rate matched the optimal MR rule.
Tied your own hands1.7%
Delegated independence to the CB and removed the inflation bias.
Reformer6.6%
Cut equilibrium unemployment through structural reforms.
Technological leap2.4%
Raised productivity (TFP) by more than 35%.
Egalitarian growth3.5%
Led the world while keeping inequality low.
Fiscal discipline0.5%
Adopted a fiscal rule and held debt down under deficit pressure.
Inclusive digitalization0.8%
Rode the ICT revolution while keeping inequality in check.
Financial bubble0.2%
Asset prices broke more than 20% away from fundamentals.
Soft landing1.2%
Deflated a financial bubble without crashing the economy.
Escaped the trap4.2%
Pulled the economy out of a liquidity trap at the lower bound.
Fiscal hawk6.8%
Kept public debt below 30% of GDP over the horizon.
Survived a sudden stop2.8%
Held the economy together through an external financial shock.
Anchor of the union1.7%
Stabilized the economy inside a currency union without a rate of your own.
Survived a banking crisis4.9%
Brought the economy from a banking crisis back to stability.
Macroprudential guardian4.4%
Rode out a financial boom without a banking crisis.
Deleveraged2.6%
Brought public debt back under control after a debt peak.
External balance11.1%
Brought the current account into balance.
Benefactor0.4%
Extended development loans worth 50+ units of output.
The first call4.0%
Your first sandbox scenario taken to the threshold.
Hands on the levers1.5%
The instruments tier cleared in full: the rate and the budget are no longer a puzzle.
Took the hit0.6%
The single-push tier cleared in full: the economy was knocked off balance and you brought it back.
The public believes you0.3%
The expectations tier cleared in full: the anchor held once the public began to anticipate your move.
When the lever runs out0.2%
The limits-of-the-rate tier cleared in full: output grew where the main lever no longer pulls.
A bubble without shards0.4%
The finance tier cleared in full: the credit cycle lived through without a broken economy.
Against the tide of capital0.1%
The external-circuit tier cleared in full: the exchange rate, reserves and flows did not wash the growth away.
Hands off the printing press0.2%
The political-economy tier cleared in full: output grew while the central bank was losing its independence.
A decade, not a quarter0.2%
The long-run tier cleared in full: growth that is not counted in quarters.
Half the textbook0.4%
Half of the tree is cleared.
The whole course0.1%
Every scenario in the tree taken to the threshold.