Central banks

The Future of Money: The Case for Central Bank Digital Currencies

"Money as we know it stands at the threshold of yet another major transformation in its long and storied history," writes Eswar...

The Incoming Currency War

Four powerful forces—cryptocurrencies, the decoupling of geographical and monetary boundaries, ad-based digital platforms’ foray into the world of payments, and the value...

Central Bankers Face Potential Conflict of Interest When Writing About QE Policies

As Quantitative Easing makes a return during the global Covid-19 pandemic, its effectiveness has once again come under intense debate in both...

How Inequality Hurts the Economy and Complicates Policy Responses to the Pandemic

In the years leading up to the pandemic, rising inequality created a saving glut of the rich which pushed down interest rates...

In Chile, It Is Always the Banks That Decide the Direction of Politics

Chile's government announced it would deliver $24 billion in state-guaranteed loans through the financial system to save companies at risk of bankruptcy due to the...

Covid-19, Central Banks, and Debt Monetization: a Webinar With Olivier Blanchard

Princeton Professor Markus Brunnermeier and former IMF chief economist Olivier Blanchard discuss the impact of the current global health crisis on public finances and policy...

Is Monetary Policy Independence Out of Date? A Mini-Course With Paul Tucker (Part 3)

The Federal Reserve and the ECB have been taking unprecedented steps to react to the financial impact of Covid-19. To frame the debate around the...

Stick, Carrot, and Evergreen Loans: A Policy Proposal to Save Small and Medium-Sized Firms

Restaurant owners, retailers, and the like employ more than 50 percent of the US workforce, yet neither have cash buffers nor access to Federal Reserve support. In...

How to Interpret Financial Market Movements to Predict the Impact of Coronavirus on GDP

Equity markets in the EU and US dropped by as much as 30 percent, which means that investors have revised downward their estimate of...

How Covid-19 Infected Global Financial Markets: a Webinar

Princeton Professor Markus Brunnermeier and Torsten Slok, Chief Economist for Deutsche Bank Securities, discuss what happened during Wall Street's worst week since the 2008...

LATEST NEWS

Capitalism Does Not Require a Tradeoff Between Planet and Profit

Critics of capitalism claim that the economic system incorrigibly encourages the exploitation of the planet and is thus incompatible with efforts to...

Academic Bias Under the Microscope

That scholarship often reflects conscious and unconscious biases has long been an open secret in academia. On April 22, Professors Christian Leuz,...

Corporations Are Not “We the People”

The Citizens United ruling contradicts the Founders, decades of Supreme Court precedent and the will of the American people.

Too Many Economists Are Using a Flawed Theory To Defend Dominant Platforms’ Self-Preferencing Practices

Congress is currently considering two major bills that would regulate “self-preferencing” and related conduct by dominant digital platforms. Criticism of these bills...

Unfair Methods of Competition

The FTC’s new policy on unfair methods of competition is an assertion of the original purpose of the agency, allowing it to...