Ultra-low interest rates

Read my latest Oxford University Press blog post on ultra-low rates.  The post is based on a presentation I will make at the SUERF/OeNB/BWG Conference on  “Asset-liability management with ultra-low interest rates,” at the Austrian National Bank in Vienna on March 11, 2015.

Time to go negative!

Since the outbreak of the subprime meltdown, the Federal Reserve has shown itself ready, willing, and able to adopt unconventional monetary policies in order to reverse the downturn ushered in by the financial crisis. Recent Fed innovations have included quantitative easing in order to inject more money into the economy, intervention in the debt market … Read moreTime to go negative!

Zoellick’s confusing FT op-ed

Writing in the Financial Times, World Bank President Robert Zoellick argues for greater economic coordination among the G20 nations.  It was not clear from his op-ed exactly how coordinated a system he envisions.  On the one hand, he calls for a monetary system to succeed Bretton Woods, implying a system of fixed exchange rates (and … Read moreZoellick’s confusing FT op-ed

Sailing to a stronger economy on the QE2

One of the nice things I have discovered about doing jury duty is that when it is all over, the judge usually comes in to thank the jurors for their service (or for coming down to the courthouse, if they don’t end up on a jury).  When the judge discovered that I am an economist … Read moreSailing to a stronger economy on the QE2