Economics

Welcome to the latest installment of our interview series “Where is the General Theory of the 21st Century?” “Where is the General Theory of the...

Cochrane discusses with us his view on the development in Macroeconomics since the Great Depression. He also explains what Neo-Fisherian and Fiscal Theory of Price Level are, and why they are important for understanding the current economic situation around the world.

HKD tends to be on the strong side (closer to HKD 7.75 per USD) when the interest rate differential is positive (HIBOR > LIBOR).

Hong Kong Monetary Authority, the de facto central bank of Hong Kong, announced on April 22 that it will utilize the Fed's FIMA Repo facility to borrow USD 10 billion of cash.

In the latest BIS Quarterly Review, researchers Ryan Banerjee and Boris Hofmann consolidated some of the earlier research to illustrate the problem of zombie firms. They argued that the rise of zombies predated the 2008 financial crisis, and has since been dragging down the productivity of the real economy.

In a recent research, four European Central Bank economists found that negative interest rate policy in the eurozone can encourage banks to increase lending and encourage cooperations to increase investments. That is, contrary to what macroeconomics models usually predict, interest rate policy can still has stimulative effect even the zero lower bound is reached.

If you think the interest rate gap between Hong Kong and US is a market phenomenon, think again. HK Monetary Authority has a much bigger role than you think

Jeremy Stein, former Federal Reserve governor, talks to us about his recent research “The Federal Reserve's Balance Sheet as a Financial-Stability Tool” and why the Fed should maintain a sizeable balance sheet.

Welcome to the latest installment of our interview series “Where is the General Theory of the 21st Century?” “Where is the General Theory of the...

In a recent policy research, Joseph Gagnon of Peterson Institute for International Economics and Brian Sack of D.E. Shaw Group asked an important question: when the Federal Reserve implement QE in the next crisis, should they use it somewhat differently?