Home Capital Group’s financial problems clearly raise questions about the state of the Canadian property market and also in a broader sense about financial stability in Canada and it is hard not to see the similarities with the US subprime crisis. However, as with the subprime crisis – which turned into the Great Recession – we would argue that this is less about a property market bubble bursting than about monetary conditions becoming too tight…The most obvious thing to do would be to announce an open-ended quantitative easing program with the aim of keeping nominal demand on a stable path. Continue reading: Thought for the weekend
European Safe Bonds will help alleviate the safe asset shortage in the euro area without creating joint liability for sovereign obligations. Continue reading: Guest post: A safe asset for Europe
Why, they're tech companies who want to give you cheap cars, all the better to data capture you with... Continue reading: Who are Tesla’s competitors, really?
In which we address some of the questions about the Fed's balance sheet, and nearly get convinced that it should shrink. Continue reading: A conversation about the Fed’s balance sheet
Live markets commentary from FT.com Continue reading: Markets Live: Friday, 28th April, 2017
The inevitable crushing of India's small telcos continues... Continue reading: Reliance Jio is walking all over the little guys
Tyler Cowen talks about his new philosophical essay, fifteen years in the making Continue reading: Podcast: Tyler Cowen’s stubborn philosophical attachments