In the aftermath of the global financial crisis of 2008-09, accommodative monetary policy, mainly through unconventional means, provided liquidity support which eased financial conditions in the crisis-hit economies of the U.S. and Europe. But the low interest rate environment has encouraged greater risk-taking among corporates and non-bank financial institutions resulting in a build-up of corporate […]
Category Archives: Macroeconomics and Monetary Policy
Financial Stability, Macroeconomics and Monetary Policy, Supervision
The Beginning of the End for the Dollar?
03
Sep
Sep
The weakening of the dollar and the end of its dominance of the global financial system has alternately been predicted and appealed for over many years. Yet the fact that this is now being publicly called for by a member of the establishment, indeed by no less than the Governor of the Bank of England […]
Macroeconomics and Monetary Policy
Don’t Try This at Home: Modern Monetary Theory in Emerging Economies
03
May
May
Modern Monetary Theory (MMT) has attracted attention recently in the United States in part because it has become associated with certain Democratic Presidential hopefuls, but also because it has been noticed by Wall Street Bankers.