Blogs&Reviews

Other Recent Blogs&Reviews:

  • Esa Jokivuolle, 14 June 2018

    An integrated European banking market can be seen as an ultimate objective of Europe’s Banking Union project. Esa Jokivuolle asks whether bank lending should be steered towards more cross-border diversification with the help of capital requirements.

  • Karl Whelan, 14 June 2018

    The past week has been the most fraught yet in the Brexit negotiations, with the ‘Irish backstop’ a key issue. In this post, Karl Whelan argues that rather than being threatened economically, Northern Ireland would gain from the implementation of the EU’s backstop.

  • Ashoka Mody, 14 June 2018

    Italian financial tremors are again rumbling dangerously. In this post, Ashoka Mody describes how tremors from the Italian fault line are set to spread in cascading earthquakes through euro area and global financial systems.

  • Roger Farmer, 13 June 2018

    In the New Keynesian model, the connection between the unemployment rate and the inflation rate is driven by the Phillips curve. In this post, Roger Farmer proposes replacing the Phillips curve with a belief function, an alternative theory of the connection between unemployment and inflation that better explains the facts.

  • Livio Stracca, 13 June 2018

    Knowledge of central banks is limited among households, who are also often found to have beliefs that are inconsistent with the foundations of the models underpinning modern monetary policy, such as the fact that higher interest rates lead to lower inflation. In this post, Livio Stracca describes the implications of this fact and summarises a new book that tries to popularise modern central banking for a wider audience.

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