Blogs&Reviews

  • A world with central bank digital currencies

    Tommaso Mancini-Griffoli, Maria Soledad Martinez Peria, Itai Agur, Anil Ari, John Kiff, Adina Popescu, Céline Rochon, Zoltan Jakab, 15 February 2019

    In this post, a group of IMF economists examine why central banks might consider issuing digitial currency, and how households and firms might adapt.

  • In this post, Ashoka Mody documents the costs of ECB timidity, which, he argues, arises from the political limits on its actions.

  • Hard Brexit ahead: Breaking the deadlock and restarting customs cooperation in Europe

    Gabriel Felbermayr, Clemens Fuest, Hans Gersbach, Albrecht Ritschl, Marcel Thum, Martin Braml, 07 February 2019

    The authors of this post argue that while the deadlock in the Brexit negotiations can be broken by tweaking the time limits of the Withdrawal Agreement and at the same time abandoning the backstop, a more viable long-term solution is a European Customs Association where Britain has active membership and a full vote alongside the EU member states.

  • A new expert survey on bank capital requirements

    Gene Ambrocio, Iftekhar Hasan, Esa Jokivuolle, Kim Ristolainen, 06 February 2019

    Capital requirements for banks have been raised considerably since the Global Crisis, but the optimal level and form of such requirements are still much debated. In this post, researchers from the Bank of Finland introduce a new survey of academic experts that will focus on the question of how much capital banks should hold.

Other Recent Blogs&Reviews:

  • Dennis Snower, Rolf Langhammer, 07 January 2019

    Dennis Snower and Rolf Langhammer dispel some common myths regarding the Brexit negotiations and outline a proposal for a second referendum that addresses all major objections to such a referendum.

  • Jon Danielsson, 02 January 2019

    After the financial markets finally closed at the end of the year, Jon Danielsson asks whether 2018 was as bad as the media would have it.

  • Oya Celasun, Gian Maria Milesi-Ferretti, Maurice Obstfeld, 24 December 2018

    The global economy started 2018 on a positive note but the momentum lost steam. In this post, Oya Celasun, Gian Maria Milesi-Ferretti, and Maurice Obstfeld explain the year in five charts. 

  • Jeffrey Frankel, 22 December 2018

    President George H.W. Bush was accused of breaking his own ‘no new taxes’ pledge. In this post, Jeffrey Frankel argues that Bush's mistake was making the anti-tax pledge in 1988 in the first place and sticking to it in the first part of his presidency. The 1990 reversal on fiscal policy set the stage for a decade of economic growth that eventually achieved budget surpluses.

  • Ansgar Belke, Daniel Gros, 21 December 2018

    The ending of the ECB's bond buying programme had no impact on interest rates. In this post, Ansgar Belke and Daniel Gros argue that this is because while the programme might have lowered rates when it was announced, the impact was only transitory. 

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