Saturday, February 6, 2016
  1. Japan’s Wrong Way Out

    Adair Turner

    Japan’s Wrong Way Out

    4

     doubts that the recent introduction of negative interest rates will boost inflation and demand.

    Shibuya, Japan

    Financial markets were surprised by the Bank of Japan’s recent introduction of negative interest rates on certain commercial bank reserves. The problem is that neither negative interest rates nor further expansion of the BOJ’s already huge program of quantitative easing will be sufficient to offset strong deflationary forces. READ MORE

  2. The Global Economy’s New Abnormal

    Nouriel Roubini

    The Global Economy’s New Abnormal

    15

     breaks down the factors underlying the spike in market volatility since the beginning of the year.

    Globe

    Since the beginning of the year, the world economy has faced a new bout of severe financial market volatility, marked by sharply falling prices for equities and other risky assets. A variety of factors are at work – and will remain so throughout 2016 and beyond. READ MORE

  3. The End of the New Normal?

    Mohamed A. El-Erian

    The End of the New Normal?

    17

     predicts that the world economy will reach another crossroads within three years.

    Calculator  macro

    Just when the notion that Western economies are settling into a “new normal” of low growth gained mainstream acceptance, doubts about its continued relevance have begun to emerge. Instead, the world may be headed toward an economic and financial crossroads, with the direction taken depending on key policy decisions. READ MORE

  4. The Great Escape from China

    Kenneth Rogoff

    The Great Escape from China

    10

     believes that the authorities are powerless to prevent further capital flight.

    Traditional rooftop architecture in China

    It might seem odd that a country running a $600 billion trade surplus in 2015 should be worried about currency weakness. But a combination of factors, including slowing economic growth and a gradual relaxation of restrictions on investing abroad, has unleashed a torrent of capital outflows. READ MORE

  5. The Invention of Inequality

    Antonio Foglia

    The Invention of Inequality

    52

     warns against simplistic policies to address a complex problem.

    Empty urban area

    Everyone seems to be talking about – and condemning – today's high level of income and wealth inequality. But today’s ideology-driven debates oversimplify an issue that is exceedingly complex and affected by processes that we do not fully understand. READ MORE

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