After the international uproar had abated over the policy adopted by the Swiss National Bank (SNB) in the first half of 2012, a certain level of sympathy for the situation in Switzerland had remained, Yet, the SNB has yet again been confronted with another barrage of accusations; Standard & Poor’s led the charge, accusing the SNB of exacerbating the crisis in the Eurozone by pegging t
Swiss National Bank under attack
Michael J Lamla, Jan-Egbert Sturm, 9 November 2012
Great expectations: (Competing) domestic drivers of Chinese policy deliberations
Shaun Breslin, 16 April 2010
Although China is a one-party state, this does not mean that China's leaders are free to do whatever they want. To be sure, compared to other countries, the level of organisation and control from the top is indeed very strong; and China's leaders do not exactly shy away from presenting themselves as being “in control”.
Is China's currency undervalued?
Helmut Reisen, 16 April 2010
Most economists agree that allowing global current account imbalances, notably the US deficit and the Chinese surplus, and their accompanying capital flows to accumulate contributed to the over-leveraging and under-pricing of risk that triggered the crisis.
The China syndrome on exchange rates
Mohamed Ariff, 19 February 2010
There is no need to belabour the point that flexible prices play a key role in correcting imbalances, be they between supply and demand for products, or between saving and investment or, for that matter, global imbalances of international capital or trade flows. This is simply the magic of the price mechanism in textbooks.
- The case for 4% inflationBall
- Helicopter money as a policy optionReichlin, Turner, Woodford
- The banking crisis as a giant carry trade gone wrongAcharya, Steffen
- Everything the IMF wanted to know about financial regulation and wasn’t afraid to askBair
- Rethinking macroeconomic policy: Getting granularBlanchard, Dell'Ariccia, Mauro
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
Baldwin, Kawai, Wignaraja, 11 June 2013
Giavazzi, Portes, Weder di Mauro, Wyplosz
Reichlin, Turner, Woodford
CEPR Policy Research
- The "Greatest" Carry Trade Ever? Understanding Eurozone Bank RisksAcharya, Steffen
- Political Credit Cycles: The Case of the Euro ZoneFernández-Villaverde, Garicano, Santos
- Winning by Losing: Incentive Incompatibility in Multiple QualifiersDagaev, Sonin
- Income and schoolingBrückner, Gradstein
- Monetary Policy and Rational Asset Price BubblesGalí