Central Bank’s Balance Sheet and the Rise of Reserves
The above figure shows the balance sheet of four major central banks from 2005 to 2015. Above the horizontal axis is the asset side...
Is Inequality part of Macroeconomics? | Interview with Branko Milanovic |
Branko Milanovic discusses whether the study of inequality can be considered as part of macroeconomics and how should macroeconomists incorporate his idea of Kuznets Waves into their models.
Hong Kong dollar amid ‘Asian Financial Crisis in reverse’ — basic explainer
An explainer on how Hong Kong Linked Exchange Rate System works, what Aggregate Balance is, and how interest rate arbitrage help maintains Linked Exchange Rate System.
Phillips Curve is Not a Straight Line…
A story about three economists agree with the prevailing consensus that the Phillips Curve of the US is flattened in the last few decades on the one hand; and dispute the idea that the Phillips Curve is dead on the other.
How to make US inflation chart by pulling data from BLS API with Python
An important question is how do we get the series IDs for the data you need. The short answer is through BLS's Data Finder
A skeptical review of the QEs – why they might not be powerful as...
In their working paper "A Skeptical View of the Impact of the Fed's Balance Sheet," economists David Greenlaw, James D. Hamilton, Ethan Harris, and Kenneth D. West challenge some earlier studies that concluded QEs have a significant economic impact. Their major argument is that those research used simple event studies to quantify the impact of QE.
The problem with monetarist’s view of inflation
Long-run stability of the velocity, or the filpside of it, money demand, however, is not a empirically founded assumption.
The Missing Profits of Nations and Multinationals’ Extreme Profitability in Tax Havens
The economics of tax evasion is a growing field in academic economics. There are much new exciting research trying to understand the mechanism behind global tax evasion. "The Missing Profits of Nations” by Thomas R. Tørsløv, Ludvig S. Wier and Gabriel Zucman is one of the most noteworthy research on the dynamic behind global tax evasions.
Standing Repo Facility — the Fed’s soon-to-be most important tool?
Standing Repo Facility (SRF) is a relatively young Federal Reserve facility. Formally established as a permanent tool in July 2021, SRF allows banks to obtain overnight liquidity with high-quality collaterals like Treasuries through a repurchase agreement. Most people may not be familiar with this "obscure" Fed tool, but it is possible that SRF will soon become one of the Fed's most important tools.
100% Reserve System is coming? – The Swiss Sovereign Money Referendum
The Swiss sovereign-money referendum, also known as the Sovereign-Money Initiative, which aims to creates a safe and crisis-free, yet experimental, banking system in Switzerland will be held on 10th June.
