Is now the time to experiment with negative interest rates?
By Brendan Brown There is a magic monetary wand out there which could accelerate economies along the road to prosperity out of the widespread destruction wrought by the global credit bubble. This wand...
View ArticleUncertain times for global economic governance
These are uncertain times for global economic governance. For over six decades after the second world war the west framed the rules of engagement for the global economy. In the initial years, the...
View ArticleTime to introduce minimum downpayments for mortgages
It is time to tackle the systemic flaw in housing policy – reliance on leverage – and introduce minimum downpayment regulations for all homebuyers, writes Charles W. Calomiris Without high leverage the...
View ArticleTIGER update: Global economic recovery is teetering
By Eswar Prasad and Karim Foda The October 2010 TIGER update paints a sobering picture of a global economy that has lost momentum and is teetering between a slowdown and at best a tepid recovery....
View ArticleEconomic recovery picks up pace, but expect some turbulence ahead
By Eswar Prasad and Karim Foda Despite a number of recent shocks, the global economic recovery is getting on to a firmer footing. The latest update of the Brookings Institution-FT Tracking Indices for...
View ArticleEuro bonds are not enough: eurozone countries need a government banker
By Thomas I. Palley The eurozone‘s public finance crisis continues to fester, reflecting both political and intellectual failure. The intellectual failure is that the crisis has been interpreted...
View ArticleWhy the global economic recovery is in trouble
By Eswar Prasad and Karim Foda The world economy has hit a rough patch on the road to recovery and is in danger of skidding off course. The latest update of the Brookings Institution-FT Tracking...
View ArticleAfrican Monetary Union risks perpetuating the myth Africa is one country
By Xhanti Payi One of the most difficult struggles being fought by those who wish to attract investment into Africa is to destroy the widely held belief that Africa is one big country. Africa in...
View ArticleEuro lacks a government banker, not lender of last resort
By Thomas I. Palley In his novel, The Jungle, the American muckraking author Upton Sinclair wrote about the horrendous work and sanitary conditions in the Chicago meat packing industry of the early...
View ArticleAnother false dawn or reason for optimism?
By Eswar Prasad and Karim Foda The world economy is showing scattered signs of vigor but remains on life support, mostly provided by accommodative central banks. Concerns about spillover from a...
View ArticleA failure of public financial sector governance
By Michael Pomerleano and Andrew Sheng As the Financial Crisis Inquiry Commission begins looking at the causes of the recent financial crisis, we need to consider that crisis is a failure of...
View ArticleThe stimulus plan, unemployment and economic theory: Why I don’t believe in...
By Roger E.A. Farmer For the past nine months I have been presenting some new ideas at academic conferences where economists have been grappling with the current financial crisis. Boston, Montreal,...
View ArticleFT column: What the world must do to sustain its convalescence
So what did I make of this year’s annual meeting of the World Economic Forum at Davos? It felt like sitting at the bedside of somebody who had survived a heart attack but was unsure how long it would...
View ArticleFT column: Britain can love hung parliaments
The bogeyman of a hung parliament is being used to terrify British voters. What is needed, it is argued, is a government with a strong majority, to rescue the UK from the threat of national bankruptcy....
View ArticleFT column: The world economy has no easy way out of the mire
Anybody who looks carefully at the world economy will recognise that a degree of monetary and fiscal stimulus unprecedented in peacetime is all that is prodding it along, not only in high-income...
View ArticleWould the real IMF please stand up?
By Kevin P. Gallagher Clear and consistent proposals toward crisis recovery and prevention are needed at the International Monetary Fund upcoming annual meetings. Unfortunately, the IMF has been...
View ArticleAn independent organization to ensure the global economic system’s stability...
By Michael Pomerleano Developing and developed countries alike are inextricably connected in the international financial system. Yet this system is heading into strong headwinds and a dangerous period...
View ArticleIndia: External deficit widens but the rupee appreciates sharply!
In March the Reserve Bank of India (RBI) published the balance of payments data for the October-December quarter of 2009. It elicited surprisingly little comment. Surprising, because for the second...
View ArticleUS trade agreements threaten emerging markets’ financial stability
By Kevin P. Gallagher At the recent annual meeting of the Asian Development Bank Taiwan’s Central Bank governor Perng Fai-nan urged emerging market nations in Asia to use capital controls to promote...
View ArticleThe world economy is recovering
By Eswar Prasad and Karim Foda Despite all the portents of doom the world economy has been quietly mending itself. This is not to say that the recovery is firmly entrenched or that few risks remain,...
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