The beginning of the end for cryptocurrencies
Cryptocurrencies have enjoyed a remarkable run from obscurity to a trillion dollar valuation in just over a decade. This column argues, however, that...
Opinion Pieces
The illusion of control
Global macroprudential and microprudential regulatory changes since 2008 have been designed to make a repeat of a systemic crisis much less likely...
Liz Truss has an opportunity to fix a critical financial regulation flaw
Effective financial markets provide the foundation for a highly productive and stable economy, but no UK regulator is responsible for the overall...
Choosing a numerical programming language for economic research: Julia, MATLAB, Python or R
Economic researchers can choose between four general purpose programming languages – Julia, MATLAB, Python, and R. This column evaluates the four...
Total factor productivity growth: we need a new drug
Creating the innovations that drive total factor productivity (TFP) growth takes both ideas and firms that process those ideas into new products or...
Bitcoin isn’t much of a macro hedge
Bitcoin is often sold as protection against adverse macroeconomic outcomes. This column argues that this depiction as a macro hedge does not stand up...
Covid-19 and trust among the young
Mishandled public health and other disasters erode young people’s trust in politicians for years
SUERF Policy Note - Stylised facts on debt and financial crisis
This policy note summarizes the main empirical findings on the role of debt in financial crisis. Credit booms – on mortgage debt, debt to the non...
Corporate legacy debt, inflation, and the efficacy of monetary policy
The COVID-19 pandemic has coincided with a further rapid increase in corporate indebtedness. This column argues that high levels of corporate debt may...
Cryptocurrencies and the war in Ukraine
The cryptocurrency exchanges have only done what is legally required of them when sanctioning Russia for its invasion of Ukraine, unlike the...
Sanctions, war, and systemic risk in 1914 and 2022
The Western countries have sanctioned Russia in a way not applied to any globally integrated major power in over a century, ever since 1914. This...
How global risk perceptions affect economic growth
The relationship between financial risk and economic growth is complex. This column finds that perceptions of high risk unambiguously harm growth...
The Development of Central Bank Digital Currency in China: An Analysis
The People’s Bank of China (PBOC) has launched an ambitious project to develop a digital currency for use in domestic, retail transactions, and is, by...
Why we don’t write more papers on political finance
Despite the commonly held views of economists on regulatory capture, our profession has been much more hesitant in recognising similar conflicts of...
Rebooting UK financial regulation for the post-Brexit world
Recognising the critical role that financial markets will play in the success of the UK’s post-Brexit economy, the Treasury is now engaged in a review...
Epidemic exposure, fintech adoption, and the digital divide
Although epidemics are frequently cited as inducing changes in economic behaviour and accelerating technological and behavioural trends, there may be...
