Digital payments during COVID
COVID has accelerated the trend towards digital payments and away from cash: a boon and a bane for emerging markets. What should the role of central banks be?
The EU Recovery Fund: a Hamiltonian or Rooseveltian moment?
Some interesting commentary on the importance of European Union Recovery Fund.
Chinese growth post COVID
After a decline of 6.8% during the first quarter, China reported growth of 3.2% for the second quarter. How reliable are these statistics ?
New and noteworthy books in economics (July)
This month’s selections are on climate change, collective action and inequality, the never popping China bubble and a thorough analysis of currency unions.
Negative interest rates, prolonged monetary accommodation and banks
Fresh off the press : Under what conditions negative interest rates and prolonged monetary accommodation benefit the economy or lead to a financial crisis.
Taxonomy of economic uncertainty
A comprehensive survey of the literature on uncertainty measures and a new index to detect truly exogenous shocks.
Re-evaluating the role of trade and value chains during pandemics
New research with some counter-intuitive results on how trade impacts pandemics. Would renationalization of specific value chains increase resilience?
On Minsky moments
Are financial crises predictable? If so, what is the jointly optimal monetary and macroprudential policy?
The doom loop of COVID-induced sudden stops
The COVID-19 outbreak has triggered unusually fast capital outflows from emerging markets. What are the effects on the US economy? New research introduces a new financial vulnerability index for EMEs.