Central banks
The Future of Money: The Case for Central Bank Digital Currencies
"Money as we know it stands at the threshold of yet another major transformation in its long and storied history," writes Eswar Prasad in...
The Incoming Currency War
Four powerful forces—cryptocurrencies, the decoupling of geographical and monetary boundaries, ad-based digital platforms’ foray into the world of payments, and the value of data—are...
Central Bankers Face Potential Conflict of Interest When Writing About QE Policies
As Quantitative Easing makes a return during the global Covid-19 pandemic, its effectiveness has once again come under intense debate in both academic and...
How Inequality Hurts the Economy and Complicates Policy Responses to the Pandemic
In the years leading up to the pandemic, rising inequality created a saving glut of the rich which pushed down interest rates and fueled...
In Chile, It Is Always the Banks That Decide the Direction of Politics
Chile's government announced it would deliver $24 billion in state-guaranteed loans through the financial system to save companies at risk of bankruptcy due to the...
Covid-19, Central Banks, and Debt Monetization: a Webinar With Olivier Blanchard
Princeton Professor Markus Brunnermeier and former IMF chief economist Olivier Blanchard discuss the impact of the current global health crisis on public finances and policy...
Is Monetary Policy Independence Out of Date? A Mini-Course With Paul Tucker (Part 3)
The Federal Reserve and the ECB have been taking unprecedented steps to react to the financial impact of Covid-19. To frame the debate around the...
Stick, Carrot, and Evergreen Loans: A Policy Proposal to Save Small and Medium-Sized Firms
Restaurant owners, retailers, and the like employ more than 50 percent of the US workforce, yet neither have cash buffers nor access to Federal Reserve support. In...
How to Interpret Financial Market Movements to Predict the Impact of Coronavirus on GDP
Equity markets in the EU and US dropped by as much as 30 percent, which means that investors have revised downward their estimate of...
How Covid-19 Infected Global Financial Markets: a Webinar
Princeton Professor Markus Brunnermeier and Torsten Slok, Chief Economist for Deutsche Bank Securities, discuss what happened during Wall Street's worst week since the 2008...
