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:

  • Diane Coyle, 31 May 2018

    This review of Benn Steil’s new book on the Marshall Plan looks at the beginning of the Cold War from the vantage of post-Brexit Britain, and outlines how Steil sheds new insights on many of the players in the debate over the Marshall Plan’s adoption.

  • Jonathan Dingel, 31 May 2018

    Inferring tradability is hard. In this post, Jonathan Dingel reviews papers that explore predictions of tradable and non-tradable industries and activities.

  • Simon Wren-Lewis, 30 May 2018

    Macroeconomics gave up on trying to explain recent macroeconomic history, or, why the economy did what it did over the last 30 or 40 years. In this post, Simon Wren-Lewis argues that it is time that macroeconomics revisited the decisions it made around 1980, and realise that the deficiencies with traditional time series analysis were not as great as they were made out to be.

  • Jon Danielsson, 30 May 2018

    Volatility is only a good measure of risk when shocks are distributed normally. This post argues that extreme value theory offers a better, if imperfect alternative. Even better would be to use more fundamental analysis.  

  • Thorsten Beck, 29 May 2018

    The main tension between London and Brussels seems to stem from a fundamentally different approach: for the UK government, Brexit is a political process; for the European Commission, a legal-administrative process. Thorsten Beck reviews the current situation and concludes that the political class in the UK has failed its population.

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