Having Fun With the ECB Monthly Bulletin
The monthly bulletin from the ECB is out. That means lots of cool graphs and data. Since I’m studying for my Statistics exam, I thought I’d pass along a few of the more fun technical figures.First up...
View ArticleEuropean Interest Rates, Graphed
The IMF has an update to their Fiscal Monitor, which has a nice graph that shows just how skewed European yields are:
View ArticleDemocratic Governance
As previously mentioned, the real story about the European crisis is one of lacking governance structures, and the struggle to create a new durable fiscal compact in the midst of the crisis. Politics...
View ArticleFinancial stability and fiscal instability
So, the ECB is out with its monthly bulletin. As always, it’s filled with nice graphs and data.I want to make a few very simple points. The first is that since the first LTRO, volatility has fallen and...
View ArticleFiscal policy in a depressed economy
Brad DeLong and Larry Summers has a new paper out titled ‘Fiscal Policy in a Depressed Economy‘. It’s full of greek letters, but it’s conclusion is quite clear: Short term fiscal stimulus works and is...
View ArticleDenmark’s CDS… again
Denmark is a safe haven. Surely, we can agree on that. Just like the other safe havens, we’re able to borrow for a long time at a very low interest rate. Only Switzerland is able to borrow at a lower...
View ArticleTarget2, flow of funds, and liquidity providing banks
The debate is still going on whether Target2 is a big problem or nothing more than an aberration. I tend to be in the first camp. What I see as the problem is that, because of Target2 imbalances,...
View ArticleYes, Sweden’s floating currency helped them
I thought this was very persuasive from Brad DeLong on the Swedish economy, a lecture on how not to discuss economics. Something for the Danish politicians to think about:Listening to Sweden’s Finance...
View ArticleTarget2 – a quick note
David Keohane over at FT Alphaville highlighted this little chart from JP Morgan’s F&L team on Monday:So we’re seeing a reversal of previous trends, albeit a small one (and I’m not to say what the...
View ArticleThe changing collateral space
Izabella Kaminska and Cardiff Garcia from FT Alphaville, and David Murphy of Rivast, have written about how repo rates have detached from government yields.Manmohan Singh from the IMF is out with a new...
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