In the aftermath of the 2008 financial crisis, job transitions of personnel in banking supervision and regulation between the public and private sectors—often labeled the revolving door—have come under intense scrutiny and have been blamed by certain economists (Johnson and Kwak), legal scholars (John Coffee in the Financial Times), and policymakers (Dodd-Frank Act of 2010, Section 968) for distorting regulators’ actions in favor of banks.
January 5, 2015
January 2, 2015
Historical Echoes: The Demise of Silver Certificates
On June 24, 1968, thousands of people swarmed assay offices in the United States, anxious to unload their holdings of silver certificates.
Posted at 11:04 am in Historical Echoes | Permalink
December 29, 2014
Data Insight: Which Growth Rate? It’s a Weighty Subject
The growth rate in real gross domestic product (GDP) is a conventional indicator of the economy’s health.
December 22, 2014
Is There a Future for Credit Default Swap Futures?
Or Shachar Last year, IntercontinentalExchange (ICE) launched a credit default swap index futures contract. In the first two weeks there were spurts of interest in it, but soon it became evident that the new product was unable to generate sufficient demand. Given their short life span in the credit default swaps (CDS) market, the question […]
December 19, 2014
Just Released: New Source for Perspective on Regional Household Debt and Credit
The New York Fed has released a new product—the Household Debt and Credit Report for the Second District—which tracks consumer credit conditions in the tri-state area.
Historical Echoes: Santa Claus as Legal Tender
From 1793 until 1861, when the U. S. Treasury Department was given exclusive rights to produce legal tender, thousands of different styles of bank notes were created by U.S. banks.
December 8, 2014
Global Asset Prices and the Taper Tantrum Revisited
Global asset market developments during the summer of 2013 have been attributed to changes in the outlook for U.S. monetary policy, starting with former Chairman Bernanke’s May 22 comments concerning future curtailing of the Federal Reserve’s asset purchase programs.
Posted at 7:00 am in Euro Area, Exchange Rates, Expectations, Financial Markets, International Economics, Monetary Policy | Permalink
December 5, 2014
Survey Measures of Expectations for the Policy Rate
Market prices provide timely information on policy expectations.
Crisis Chronicles: The Panic of 1819—America’s First Great Economic Crisis
As we noted in our last post on the British crisis of 1816, while Britain emerged from nearly a quarter century of war with France ready to supply the world with manufactured goods, it needed cotton to supply the mills, and all of Europe needed wheat to supplement a series of poor harvests.
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