In both advanced and emerging economies, policymakers,
academics, and the financial community were still trying to make
sense of the…
High public debt often produces the drama of default and restructuring. But debt is
also reduced through financial repression (FR), a tax…
We document the link between increased levels of economic and policy uncertainty and unemployment at the state-level during the 2007-2009…
Germans cannot agree to unlimited bailouts of euro members. On the other hand, if they had insisted on the founding principles (fiscal…
Many claim that China will soon overtake the US. I argue that this claim is based on a misuse of statistics. The International Comparison…
As the Federal Reserve moves closer to initiating one of the most long-awaited and widely predicted periods of rising short-term interest…
America’s two political parties rarely agree, but one thing that unites them is their anger about ‘currency manipulation’, especially by…
Some questions can only be answered by examining the broad sweep of history. Over the past 150 years, "world" real interest rates have…
This paper explores the menu of options for renormalizing public debt levels relative to nominal activity in the long run, should…
Since 2008 Europe has been mired in a combination of economic depression, financial crisis, and public and private debt overhangs. Greece…