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.
Hong Kong Linked Exchange Rate & HKD-USD interest rate differential
HKD tends to be on the strong side (closer to HKD 7.75 per USD) when the interest rate differential is positive (HIBOR > LIBOR).
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.
Interviews
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.