Economics

The faster the credit growth, the worse it is for real growth (output per worker). This is what Stephen G. Cecchetti and Enisse Kharroubi want to explain in their NBER working paper "Why Does Credit Growth Crowd Out Real Economic Growth?"

In his latest Brookings blog post "Modifying the Fed’s policy framework: Does a higher inflation target beat negative interest rates?", Ben Bernanke compares two...

This is the eighth installment of our interview series “Where is the General Theory of the 21st Century?” In this installment, we continue our talk...

The latest BIS global liquidity indicators showed that the share of Non-bank USD denominated credit continued its rising trend.

Planet Money Book is an excellent introduction to economics and finance and reminded me why it is good to have Planet Money in our life.

Long-run stability of the velocity, or the filpside of it, money demand, however, is not a empirically founded assumption.

The honorable guest for this installment is Joseph E. Gagnon, senior fellow at Peterson Institute for International Economics (PIIE). We discussed one of his latest research paper "Unconventional Monetary and Exchange Rate Policies" and the new book he coauthored with C. Fred Bergsten, "Currency Conflict and Trade Policy: A New Strategy for the United States". Gagnon also shared his view on the very popular "Global Financial Cycle" ideas.

What the impact of asset price bubbles on US economic growth is.

The latest SESFOD shows that the credit terms offered to counterparties for both securities financing and OTC derivative transactions is further tightened.

The above figure shows the balance sheet of four major central banks from 2005 to 2015. Above the horizontal axis is the asset side...