• 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:

  • Enrico Perotti, 18 December 2018

    In this post, Enrico Perotti explains the concept of financial stagnation, which occurs when an excess supply of savings is not reabsorbed by market adjustment, as interest rates fail to adjust the imbalance.

  • Richard Baldwin, 17 December 2018

    In the final post in his series on AI, Richard Baldwin describes how many of today’s most innovative products, apps, and systems are simply mash-ups of standard digital components, in a process Google's Hal Varian calls 'combinatorial innovation’.

  • Branko Milanovic, 16 December 2018

    Branko Milanovic discusses his love of the books of VS Naipaul, and reviews Paul Theroux's book based on his friendship with the author.

  • Richard Baldwin, 15 December 2018

    In the 4th post in his series on AI, Richard Baldwin turns his attention to network effects and Metcalfe's Law, which helps account for the wild stock market values of companies that had never been heard of a couple of years ago.

  • Simon Wren-Lewis, 14 December 2018

    In this post, Simon Wren-Lewis asks what has led to the apparent distrust in the UK in the words of experts.


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