Central banks and reputation risk
As central banks accumulate ever more job functions, their reputation risk increases. This column offers a cautionary tale from Iceland where, after...
Opinion Pieces
Financial crises and the dynamics of financial de-liberalisation
Financial crises play a key role in changing existing policies concerning financial markets and institutions. This column provides new evidence for...
The wealth effect: The middle class and the changing politics of banking crises
The accumulation of mass financialised wealth has transformed the politics of banking crises. This column shows that the rising wealth of the middle...
Lending cycles and real outcomes: Costs of political misalignment
Government ownership of banks can help solve credit market failures and stabilise the supply of credit over the business cycle. However, it can also...
Cryptocurrencies: Financial stability and fairness
Cryptocurrencies are primarily held today for speculative reasons and see little economic use outside of that. This column argues that if private...
The hierarchy of financial policies
Financial policy is determined in multiple domains by separate government authorities. This column explores the hierarchical ranking of these domains...
Which numerical computing language is best: Julia, MATLAB, Python or R?
Julia, MATLAB, Python and R are among the most commonly used numerical programming languages by economic researchers. In this post, Jon Danielsson and...
Cryptocurrencies are lousy investments
Are cryptocurrencies the future of money, Ponzi schemes, speculators’ dreams, or just a prosperity gospel? While there is money to be made in the...
Cryptocurrencies
Are cryptocurrencies the future of money, Ponzi schemes, speculators dream, freedom or just a cult?
Low risk as a predictor of financial crises
Reliable indicators of future financial crises are important for policymakers and practitioners. While most indicators consider an observation of high...
Macroprudential stress tests
Current stress testing of banks is focused on the resiliency of individual banks to exogenous shocks. This column describes how the next generation of...
Cryptocurrencies don't make sense
Cryptocurrencies are supposedly a new and superior form of money and investments – the way of the future. The author of this column, however, does not...
Why investors should be weaned off tight tracking to market indices
Exploitative momentum investing would shrivel in the absence of benchmarkers.
Artificial intelligence and the stability of markets
Artificial intelligence is increasingly used to tackle all sorts of problems facing people and societies. This column considers the potential benefits...
Brexit and systemic risk
Brexit is likely to cause considerable disruption for financial markets. Some worry that it may also increase systemic risk. This column revisits the...
Volatility, financial crises and Minsky's hypothesis
Does low volatility in financial markets mean that another financial crisis is more likely? And should we be worried when everything is OK? This...
