Archive for January 24th, 2019

Friedman and Schwartz, Eichengreen and Temin, Hawtrey and Cassel on Great Depression

January 24, 2019

Fascinating post by David Glasner on how works of Hawtrey and Cassel on great depression have largely been ignored.

Glasner should clearly blog a lot more than he does. One of its kind blog…

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Establishing viable capital markets

January 24, 2019

A new report by BIS:

Capital markets provide an important channel of financing for the real economy, they help allocate risk, and they support economic growth and financial stability. Moreover, capital markets have played an important part in financing the recovery from the Great Financial Crisis (GFC), a reminder of their “spare tyre” role in the financial system. This report examines recent trends in capital market development and identifies the factors that foster the development of robust capital markets.

The report finds that large differences persist in the size of capital markets across advanced and emerging economies. Emerging-economy markets have been catching up with their more advanced peers, but the gap has not yet been closed.

The analysis highlights the importance of macroeconomic stability, market autonomy, strong legal frameworks and effective regulatory regimes in supporting market development. Better disclosure standards, investor diversity, internationalisation, and deep hedging and funding markets, as well as efficient and robust market infrastructures, also play a key role.

The report’s recommendations across six broad areas outline practical ways to support the development of robust and efficient markets.

Should be an interesting read….

Measuring Utility: From the Marginal Revolution to Behavioral Economics

January 24, 2019

Ivan Moscati of University of Insubria in this paper (which is actually a prologue from his book by the same title):

(more…)


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