Economics

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.

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

John Cochrane talks about Fiscal Theory of Price Level and how can we apply this theory on the current macroeconomy.

A spread of over 3.5 percentage points between US and Hong Kong Interest rate persisted for close to two months and so far arbitrage has failed to close the gap, leading to discussion of whether Hong Kong's Linked Exchange System is failing. This article, however, will explore some technical factors behind this interesting interest rate gap.

A new working paper from the IMF which tries to assess the impact of media sentiment on equity markets.

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

Last week, Bank of England's Deputy Governor for Monetary Policy Ben Broadbent gave an insightful speech about debt dynamics. An important point Broadbent has...

Edited transcript of our interview with Paul Romer, on why the US urgently to scale up testing for Covid-19 and why he thinks the covid-crisis amounts an intellectual failure

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.

Peter Conti-Brown, author of one of the best book about the institution of Fed, "The Power and Independence of the Federal Reserve", explains what Jay Powell's nomination means to the Fed independence and why Janet Yellen should have stay as governor after his Chair term ended.