What comes after housing market bubble?
An investigation into the probability of a crash in house prices following a housing bubble
Global Inequality and Kuznets Waves | Q&A with Branko Milanovic |
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...
Blanchard’s “Policy Model” v “Theory Model”
Back in November last year, Professor Olivier Blanchard discussed with me about his view that there should be four types of macroeconomics, and "theory...
The Non‐Bank Credit Cycle
In a new working paper "The Non‐Bank Credit Cycle", researchers Esti Kemp, René van Stralen, Alexandros Vardoulakis, and Peter Wierts tried to look into the cyclical properties of non‐bank credit and its relevance for financial stability.
Why Fed projects to cut rates next year even it expects failure to reach...
Inflation projections by Fed officials show that PCE inflation will not reach 2% by the end of 2025. Why the Fed expects to cut rate next year then?
“The Rate of Return on Everything, 1870-2015”
How Alan Taylor, one of the authors of "The Rate of Return on Everything, 1870-2015" explains the liquidity premium problem when we compare the rate of return on Housing and Equity
Canada GDP: an Up-to-date checkup on the Canadian economy
While GDP rebounded by 0.65% in Q3 (2.6% annualized), the expansion was driven almost entirely by a 2.2% drop in imports.
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.
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.
Media Sentiment and International Asset Prices
A new working paper from the IMF which tries to assess the impact of media sentiment on equity markets.
