How the Game of Bank Bargains Created the Financial Crisis? | Q&A with Calomiris...
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...
Interview with Paul Romer – On Charter Cities (and HK) and Growth Theory
"There is a big difference between saying you want to allow for city-scale reform zones that will encourage reform of government and innovation in government, and saying that you want to do away with government entirely and let a corporate entity run a private city," says Nobel winning economist Paul Romer.
Why Does Credit Growth Crowd Out Real Economic Growth?
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?"
Understanding the Great Recession | Interviews with Larry Christiano |
Larry Christiano, one of the most prominent researcher on DSGE model, explains what his research "Understanding the Great Recession" tell us about the Great Recession as well as labor participation rate's role in the developments of the Great Recession.
What is Payment on Reserves Process?
The payment on reserve process proposed by Robert Hall and Ricardo Reis is a way of remunerating reserves which would give the central bank...
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.
What is Hysteresis?
Hysteresis is referred to the hypothesis that recessions may have permanent effects on the level of output relative to trend.
How to use Interest on Reserve for Inflation Targeting? | Q&A with Ricardo Reis...
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...
How Household Debt affect the Global Business Cycles | Q&A with Atif Mian |
In this installment of the interview, Professor Mian explains the major findings in his recent research paper "Household Debt and Business Cycles World Wide" and the important implications of that paper.
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.
