Financial crises cast a long shadow on investment. For nine major Asian economies, average investment as a share of GDP declined sharply…
The authors address the indisputable fact that high real interest rates place an added burden on debtors, whether they are households,…
The canonical theory of taxation holds that the incidence of a tax is independent of the
side of the market which is responsible for…
The paper presents and estimates a model of the prices of oil and other storable commodities, a model that can be characterized as…
In Professor Summers’ testimony before the Senate, he sets out to do three things: First, he characterizes the economic and fiscal outlook…
Around the world the idea of “austerity” is fiercely debated. The various strengths and weaknesses of the global economy make opportune a…
The financial crisis prompted financial supervisors to take a critical look at their own performance. The "toolkit" available to…
May 2010, we published an academic paper, “Growth in a Time of Debt.” Its main finding, drawing on data from 44 countries over 200 years,…
As the old joke about economics examinations has it, the questions do not change – only the answers do. Students in the late 1960s and…
Europe's economic situation is viewed with far less concern than was the case six, 12 or 18 months ago. Policymakers in Europe far prefer…