Abstract A World Economic Roundtable report on private debt and the American middle class. Special Report Tipping Points: Mapping and Understanding the Impact of Debt on Household Financial Well-Being and Economic Growth Original Conference Held: June 9, 2016 The Private Debt Project and the Center for Household Financial Stability of the St. Louis Federal Reserve …
Abstract Rana Faroohar, Assistant Managing Editor in Charge of Economics and Business at Time Magazine speaks to the Private Debt Project about her new book on “financialization.” Conversation with Rana Foroohar, Assistant Managing Editor in Charge of Economics and Business, Time Magazine and Author of The Makers and the Takers: The Rise of Finance and the …
Abstract Monetarism has for years, dominated the mainstream of economic thinking about the causes of inflation. In this report, we challenge the central tenant of the monetarist theory that inflation is a “monetary phenomenon” caused by the inflation of the money supply using historical evidence. Neither does Rapid Growth in Government Debt, Declining Interest Rates, …
Rapid Money Supply Growth Does Not Cause Inflation Read More »
Abstract Richard Vague’s take on the role of financialization and debt in creating economic development and slowing down growth. Richard Vague is Managing Partner of Gabriel Investments and Chairman of The Governor’s Woods Foundation. In their May 2015 paper titled “Rethinking Financial Deepening: Stability and Growth in Emerging Markets,” Ratna Sahay et. al have made …
Comment: Richard Vague on Financialization and Economic Development Read More »
Abstract Prof. Joerg Bibow on how a combination of financial deregulation, poor institutional design and an ideology of austerity is dooming Europe and the world at large to a decade or more of lost growth. Joerg Bibow, Skidmore College and The Levy Economics Institute Introduction: The ill-understood never-ending crisis of the euro-zone The euro-zone crisis …
Abstract Nicholas Mulder examines how, despite strong fundamentals, the Dutch economy has suffered due to high levels of household debt. By Nicholas Mulder, Columbia University In 1977, The Economist coined the term ‘Dutch disease’ to describe what was then taking place in the economy of the Netherlands. Since the discovery of a large natural gas field in …
A New Dutch Disease? Private Debt in the Netherlands Read More »
Abstract A profits based interpretation of how persistent trade deficits lead to high levels of leverage and financial instability. Orthodox trade theory focuses on the reallocation of real resources through trade and ignores the monetary/financial and balance sheet aspects of trade. Once in a while, the Twin Deficits bogey is raised to warn about the …
Current Account Imbalances, Debt Buildup, and Instability Read More »
Abstract Over the last two decades, the United States has experienced two major financial bubbles. The first was the so-called “tech bubble,” which in spite of its negative effects helped create the information and communications revolution that has transformed the U.S. and world economies. The second bubble, the housing bubble that developed in the wake …
Abstract Why international monetary coordination and new political structures are needed to avoid global deflation. By Jay Pelosky, J2Z Global Advisory, LLC Originally Published in Itaú Global Connections Year VI Issue #204 There has been much discussion over the past few years about a currency war, but one party has been missing in the discussion, …
Abstract Since the 2008 financial crisis, more attention has been paid to debt in systemically important institutions and in aggregate classes of borrowing. However, how much do we know about the kind of debt that burdens the most vulnerable Americans? Since the 2008 financial crisis in the United States, and the repercussions of that crisis …
