Money Monetary Policy category: 1222 books

A new wave of technological innovations, often called “fintech,” is accelerating change in the financial sector. What impact might fintech have on financial services, and how should regulation respond? This paper sets out an economic framework for thinking through the channels by which fintech...

Recent failures and rescues of large banks have resulted in colossal costs to society. In wake of such turmoil a new banking union must enable better supervision, pre-emptive coordinated action and taxpayer protection. While these aims are meritorious they will be difficult to achieve. This book explores...

This SDN revisits the debate on bank resolution regimes, first by presenting a simple model of bank insolvency that transparently describes the trade-off involved between bail-outs, bail-ins, and larger capital buffers. The note then looks for empirical evidence to assess the moral hazard consequences of bail-outs and the systemic spillovers from bail-ins.

In response to what has become known as the Financial Crisis of 2008, the Central Bankers of the world have employed nearly every form of monetary alchemy at their disposal in a desperate attempt to to maintain the status quo. The status quo, which in this case means that all commercial banks and...

The US economy today is confronted with the prospect of extended stagnation. This book explores why. Thomas I. Palley argues that the Great Recession and destruction of shared prosperity is due to flawed economic policy over the past thirty years. One flaw was the growth model adopted after 1980 that...

Europe’s banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorities and banks to examine the structural obstacles that discourage banks from addressing...

This SDN studies the evolution of inequality across age groups leading up to and since the global financial crisis, as well as implications for fiscal and labor policies. Europe’s population is aging, child and youth poverty are rising, and income support systems are often better equipped to address old-age poverty than the challenges faced by poor children and/or unemployed youth today.

In order to keep your wealth from being an illusion, you must possess the ability to adjust your portfolio as the economic and investment climates change. Buy-and- hold strategies can work with some assets, but should not be the way forward for all your holdings. Applying the common sense of this book can...

This study, first published in 1979, examines and contrasts two concepts of credit rationing. The first concept takes the relevant price of credit to be the explicit interest rate on the loan and defines the demand for credit as the amount an individual borrower would like to receive at that rate....

By means of case studies in schools and hospitals, this text describes and evaluates the current issues faced by both education and health professionals. It argues that much can be learned by comparing the experiences of the two groups, and suggests ways in which education and health workers can respond...

The Federal Open Market Committee, which sets Federal Reserve policy, meets for the first time under the leadership of Chairwoman Janet Yellen, on March 18 and 19. Ms. Yellen, who took the post in February, has pledged to follow the policies of former chairman Ben Bernanke. Still, the meeting and...

The local levels of economies have felt the impact of technological change and globalization. These forces have triggered the need to understand the dynamic mechanisms that enable locales to respond to such changes. For example, the downsizing of traditional employers because of a major loss in market...

This Departmental Paper takes stock of Senegal’s achievements in the past few years under IMF-supported programs and identifies key reform pillars for the future. IMF staff analyses Senegal's new development strategy, Plan Sénégal Emergent, which aims to make Senegal an emerging market economy by 2035.

The English translation of the Italian book ”Morte al Sistema! (Con la forza delle idee..)”. “Death to the System! (With the strength of the ideas…)” overturns the current western civilization paradigm thanks to a fierce and incontrovertible criticism of the current European monetary system...