What does Europe really need?
Is the consensus towards further integration in the Eurozone shifting? Some interesting opinions.
Financial stability and the green economy
What are the risks of climate change to financial stability?
On sovereign debt
Whether domestic or external debt, the notion of sustainability is not clear cut according to these new working papers.
Asset prices and the real economy
Two new research papers review recent theories and empirical evidence on the link between asset prices and macroeconomic outcomes.
Collateral during crises and QE
How did QE induce a “collateral trade”? Recent research on the optimal lending and collateral policies of central banks.
What’s up with bitcoin?
The price of Bitcoin has risen above $10,000 and the Commodity Futures Trading Commission and the CBOE Futures Exchange are launching Bitcoin futures or other derivatives contracts. Cochrane, Cowen, Yates and Damodaran are explaining what might be going on.
“GDP at risk”
New research on the conditional distribution of GDP growth as a function of economic and financial conditions.
New and noteworthy books in economics (December)
Four notable new books on capital flows, intangible economy, on financial markets after the different crises and the role European mega banks played in the Great Recession.
The natural rate of unemployment
Should we reject the natural rate hypothesis? Is the natural rate of unemployment constant?