T his EU referendum has been the most extraordinary political event of our lifetime. Never in our history have so many people been asked to decide a big question about the nation’s future. Never have so many thought so deeply, or wrestled so hard with their consciences, in an effort to come up with…

My previous post discussed Larry Summers’ secular stagnation hypothesis , the notion that monetary policy will be chronically unable to push interest rates low enough to achieve full employment. The only sure way to get closer to full employment, in this view, is through fiscal action. A shortcoming…

Three of the most important objectives for economic policy are: Achieving full employment Keeping inflation low and stable Maintaining financial stability Larry Summers’ secular stagnation hypothesis holds that achieving these three goals simultaneously may prove very difficult. (See Larry’s…

In January 2015, the radical left party Syriza was elected, with its leader Alexis Tsipras declaring “Greece is leaving behind destructive austerity.” Jean-Claude Juncker, president of the European Commission, baldly responded that “To suggest that everything is going to change because there's a new…

by Professor Richard A. Werner, D.Phil. (Oxon) 20 June 2016 The British people should be clear about just what they will be voting on at the EU referendum this Thursday. What does it actually mean to stay in the EU? What does it mean to exit? Concerning the second question, the dominant issue in the…

WASHINGTON/SAN FRANCISCO (Reuters) - The U.S. Federal Reserve’s dwindling confidence in its own outlook and resulting confusion among investors are creating a policy problem that may require chief Janet Yellen to lay out her own views more forcefully. The Fed chair’s next communications test comes…

Interest rates around the world, both short-term and long-term, are exceptionally low these days. The U.S. government can borrow for ten years at a rate of about 1.9 percent, and for thirty years at about 2.5 percent. Rates in other industrial countries are even lower: For example, the yield on…

The Indian rupee slumped as investors reacted to the news that Reserve Bank of India Governor Raghuram Rajan will return to academia in early September. At India's central bank, the former International Monetary Fund chief economist not only oversaw a revolution in the conduct of monetary policy but…

The most popular politician in Spain is a 30-year-old Marxist economist who wants to abolish the monarchy and believes that capitalism will ultimately collapse under the weight of its own contradictions. It is a peculiar result, as Alberto Garzón himself is the first to admit. “Something is…

Shares In today's communist-style, centrally planned world, when big central bankers meet and make decisions, no matter how small, markets quake and currencies shake. And that's what just happened. Bankers at both the Federal Reserve and the Bank of Japan met in the last 12 hours to decide where…

show chapters Fed 'overly data dependent': El-Erian 8:38 AM ET Thu, 16 June 2016 | 01:09 Federal Reserve policymakers "don't have a vision" for where the U.S. economy is going, Allianz Chief Economic Adviser Mohamed El-Erian said Thursday, a day after central bankers decided not to increase interest…

by Sat, 06/18/2016 - 12:20 0 SHARES Submitted by Pieter Cleppe via EUObserver.com, If the British vote for Brexit, the European Union will be reaping what it has sown . In 1992, Denmark voted against the Maastricht Treaty, which established the possibility of creating a common European currency. In…

by Fri, 04/08/2016 - 17:45 0 SHARES No Return to Normal Overall, world stocks have held up well, despite cascading evidence of impending doom. U.S. corporate profits have been in decline since the second quarter of 2015. Globally, 36 corporate bond issues have defaulted so far this year – up from 25…

Steve Liesman Shocker: "The Fed Is As Close To Capitulation As I've Ever Seen Them" by Wed, 06/15/2016 - 20:56 0 SHARES We were amazed in March when, during the last Fed press conference, CNBC's Steve Liesman and traditional Fed cheerleader went so far as to ask a stunned Janet Yellen whether she…

News Agriculture and Food Leaving the EU would be like planting ‘a bomb’ under the British economy, the prime minister warns. Share options Copy Link EMail Twitter WhatsApp Linkedin Free article usually reserved for subscribers British Prime Minister David Cameron interviewed by Andrew Marr on BBC |…

What has happened to you, Europe?” cried Pope Francis, accepting this year’s Charlemagne prize. Here is the question we should all be asking, as a Pew poll finds 61 per cent of the French have an unfavourable view of the EU, more even than in Britain. What has gone wrong? Why is Europe failing and…

News Agriculture and Food Paris wants to cut cord quickly if Britain votes to leave the EU. Share options Copy Link EMail Twitter WhatsApp Linkedin Free article usually reserved for subscribers France has some 160,000 citizens living in Britain, who could be affected by visa restrictions on foreign…

If your only tool is a hammer, every problem is a nail. It is no surprise, then, that many economists regard the problem of the eurozone as essentially one of insurance — a technical problem in need of a technical fix. No prizes for guessing which profession will be employed to solve it. An…

Everett Collection Which side will win at the Fed’s June meeting? WASHINGTON (MarketWatch) — The Federal Reserve is expected to keep interest rates unchanged on Wednesday as a result of the weak May jobs report but a hike as soon as July is not far-fetched, based on a close examination of where…

DPA German Finance Minister Wolfgang Schäuble In an interview with SPIEGEL, German Finance Minister Wolfgang Schäuble warns of the consequences if the British vote in favor of Brexit. Even if a slim majority votes against it, he says, the EU cannot continue with "business as usual." How would the EU…

In early February, in a post titled " A Wounded Deutsche Bank Lashes Out At Central Bankers: Stop Easing, You Are Crushing Us ", we showed just how vast the feud between Europe's biggest - and ever more troubled commercial bank - and the ECB had become. As DB's Parag Thatte lamented then, "ECB…

by Fri, 06/10/2016 - 09:51 0 SHARES From Deutsche Bank to Credit Suisse and from Barclays to Banco Popolare, the European banking system is getting battered this week with today's plunge the biggest in 4 months ... This is the worst two week drop in European banks since April 2012... As Deutsche…

Mario Draghi’s foray into corporate bonds with junk ratings was an "aggressive" effort in monetary stimulus, but it still may not be enough to jump-start the region’s economy, according to Putri Pascualy at Pacific Alternative Asset Management Co. “It was a very aggressive move,” Pascualy, managing…

by Thu, 06/09/2016 - 08:53 0 SHARES A few days after the ECB unexpectedly announced its CSPP, or corporate bond buying program which based on its definition was limited to investment grade, non-financial debt, we explained " Why The ECB Will Be Forced To Buy Junk Bonds ", saying that "the reasons to…

FRANKFURT—European Central Bank President Mario Draghi urged European governments to play their part in boosting growth and inflation in the region, warning that a lack of economic reforms is making the ECB’s job harder. “If other policies are not aligned with monetary policy, inflation risks…

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The euro's importance as a tool of the global financial system is dwindling, according to the European Central Bank. The euro has struggled to keep pace as a globally used currency in the face of low interest rates and poor global growth. At 19.9 percent, the share of the euro in foreign exchange…

Ajankohtaista Uutiset ja tiedotteet Yliopisto-lehti Podcastit Tiedekulma Ukrainan sota Tapahtumakalenteri Väitökset Unitube - videot ja suorat lähetykset Medialle Uutiskirjeet Yliopisto sosiaalisessa mediassa Hakeminen ja opetus Tutustu koulutustarjontaamme tutkinto-opinnoista jatkuvaan oppimiseen.…

Three days after Britain votes on Brexit, Spain faces a general election, the result of which could be even more decisive for the future of the EU. The Spanish radical left party Unidos Podemos has surged into second place in the latest opinion polls, and is currently on 25.6%. The position is…

Last December, the Federal Reserve decided to raise its policy interest rate for the first time since the Great Recession. At the time, the Fed thought that the US economy was starting to expand at a sufficiently fast rate that it would suck up all the unemployed and create conditions for increased…

Kun yhteiskunta hajoilee, toimittajat tarjoavat moralismia liimaksi. Teksti Pontus Purokuru Kuva Ninni Kairisalo K eväällä Helsingin Sanomista saattoi saada vaikutelman, että bussikuskin tervehtimättä jättäminen on Suomen suurimpia yhteiskunnallisia ongelmia. Lehti uutisoi asiasta 7. maaliskuuta…

BRUSSELS (Reuters) - The European Commission has given France leeway on fiscal rules “because it is France,” the president of the EU executive Jean-Claude Juncker said on Tuesday, in a remark that may not go down well in Germany and other more thrifty euro zone states. European Commission President…

A mural in the Lithuanian capital, Vilnius, archly depicts the relationship of Mr. Trump and President Vladimir V. Putin of Russia. WASHINGTON — The comparison was inflammatory, to say the least. Former Gov. William F. Weld of Massachusetts equated Donald J. Trump’s immigration plan with…

0 Shares Media Options Download Video Download Audio Get DVD Other Formats This is viewer supported news. Please do your part today. Donate Image Credit: Reuters 0 Shares This is viewer supported news. Please do your part today. Donate WikiLeaks has just revealed secret details of a European Union…

Powell: Rate hike looking appropriate 'fairly soon' 12:33 PM ET Thu, 26 May 2016 | 01:44 ‹ 01:44 Powell: Rate hike looking appropriate 'fairly soon' 12:33 PM ET Thu, 26 May 2016 04:44 Siegel: ‘Who’s afraid of the big bad Fed?’ 11:11 AM ET Wed, 25 May 2016 03:42 Can stocks thrive amid a rate hike?…

show chapters James Bullard: Fed will remain data-dependent 10:03 PM ET Tue, 24 May 2016 | 04:49 A U.S. Federal Reserve rate hike in June or July wasn't set in stone, but labor data suggested it was time to pull the trigger, St. Louis Fed President James Bullard told CNBC. "There's no reason to…

The preceding period was marked by the government’s massive authoritarian offensive, particularly after the November 13 attacks and the introduction of an extended state of emergency. Today we have entered into a new phase: a fresh episode of class struggle sparked by the bill for the Labor Law,…

Amid a migrant crisis, economic inequality, growing disillusionment with the European Union and a sense of lost national identity, right-wing parties in a growing number of European countries have made electoral gains. The right-wing parties included below range across a wide policy spectrum, from…

William C Dudley: "US Economy in a Snapshot" Opening remarks by Mr William C Dudley, President and Chief Executive Officer of the Federal Reserve Bank of New York, at the Economic Press Briefing on the US Economy in a Snapshot, Federal Reserve Bank of New York, New York City, 19 May 2016. Central…