Category Archives: The dismal science

How the Fed Promoted “Financial Dominance” and Shadow Banking by Promoting Repo

Yves here. This is a very important post, and sadly I’m not providing it with the introduction and commentary it warrants because I am scrambling to get organized to get out of town. By Daniela Gabor is associate professor in economics at the University of the West of England, Bristol. Originally published at the Institute […]

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Economists Mystified that Negative Interest Rates Aren’t Leading Consumers to Run Out and Spend

It been remarkable to witness the casual way in which central banks have plunged into negative interest rate terrain, based on questionable models. Now that this experiment isn’t working out so well, the response comes troubling close to, “Well, they work in theory, so we just need to do more or wait longer to see […]

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Brexit Realism: Maybe Voters Were Not Dumb

By David Miles, Imperial College Business School. Originally published as a chapter in the VoxEU ebook, Brexit Beckons: Thinking ahead by leading economists, available to download free of charge To some, the Brexit referendum was a failure by economists to persuade UK voters that leaving the EU would entail major economic costs. This column argues […]

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