Archive
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Overreaction in expectations
New research on agents’ expectations when there is uncertainty about the persistence of a crisis and when recent observations become important.
Inflation persistence
Two recent research papers provide a new view of the inflation process.
How informative are bank stress tests?
Market participants follow closely the results of the Fed’s stress tests. But did the recent tests examine higher interest rates?
On the modern corporation
Can modern corporations self-regulate and undertake a green transition?
On the costs of geoeconomic fragmentation
Two research papers estimate the costs of a policy-driven reversal of global economic integration.
New and noteworthy books in economics (March)
Our selection for this month includes two books on financial stability and two books on the Federal Reserve. Had this been last month’s selection it would have been quite prophetic!
On financial dominance
Should Central Banks increase interest rates when financial market turbulence is on the rise?
The current state of U.S. banking
How many banks are in danger? How to prevent the next crisis?
Do interest rates drive investment?
Possible explanations of why the secular decline in the financial cost of capital did not increase business investments.
Banking concentration vs competition
Interesting new research on whether competition in the banking sector leads to financial instability.