Author: e-axes

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Financial Markets

Recent developments in the crypto ecosystem

The crypto ecosystem expanded and grew rapidly in 2021. Despite the challenges these assets might pose to financial stability, history shows that we are entering a new cycle in monetary history.

Eurozone

Progress report on the European Banking Union

Europe’s Banking Union has not achieved its goals but has benefited the Eurozone’s banking sector in unexpected ways.

Monetary Policy

Why do central banks undertake reforms?

Interesting research on what drives institutional reforms as well as monetary policy framework reviews in central banks.

Macro

The welfare cost of inflation

Two different models and data to calculate the welfare cost in the U.S. and Europe.

Monetary Policy

On inflation expectations

The importance of anchoring inflation expectations.

Books

New and noteworthy books in economics (September)

Four important books for this month: Brunnermeier on resilience, Tooze on COVID, Eichengreen et al. on debt and Prassad on the end of cash.

Climate

Does decarbolisation imply degrowth?

Does the world economy need to grow less in order to reach net zero in 2050? A lively debate!

Macro

On diagnostic expectations

New research that studies the psychological foundations of information processing.

China

Xi’s vision of “common prosperity”

The Chinese government promised a campaign against high earners. This will be the fourth time since the 1980s that China is implementing policies to reduce inequality.

Financial Markets

Shareholders vs Stakeholders, part B

Two years ago a number of U.S. CEOs signed a pledge that they would lead their companies in the interests of all stakeholders, not just shareholders. Did they?

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