Derivatives’s Credit Terms in Eurozone Tighten Further
The latest SESFOD shows that the credit terms offered to counterparties for both securities financing and OTC derivative transactions is further tightened.
Hysteresis – An Underrated Macroeconomics Question
Hysteresis is referred to the hypothesis that recessions may have permanent effects on the level of output relative to trend.
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...
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
Interview with Paul Romer on large scale Covid testing – Transcript
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
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.
Bank Equity and Banking Crises
In a recent study "Bank Equity and Banking Crises" by Matthew Baron (of Cornell University), Emil Verner (MIT Sloan), and Wei Xiong (Princeton University), the three economists developed a comprehensive database of bank equity prices and banking crises with a full-sample of 46 countries from 1870-2016. They try to understand the dynamic between bank equity decline and banking crises.
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.
QE: A User’s Guide | #FurtherDiscussed
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?
What is FTPL (Fiscal Theory of Price Level)?
The Fiscal Theory of the Price Level says that money has value because the government accepts it for taxes, and inflation is fundamentally a fiscal phenomenon
