Wednesday, September 2, 2015
  1. Democratizing the Eurozone

    Yanis Varoufakis

    Democratizing the Eurozone

    8

     asks why European policymakers are less accountable than their Chinese counterparts.

    ECB headquarters Frankfurt Luo Huanhuan/ZumaPress

    Political systems prove their worth by how quickly they put an end to their officials’ serial, mutually reinforcing, policy mistakes. Judged by this standard, the eurozone, comprising 19 well-established democracies, lags behind the largest non-democratic economy in the world. READ MORE

  2. A Tale of Two Theories

    Jean Pisani-Ferry
  3. Will Americans Become Poorer?

    Martin Feldstein
  4. A Cautionary History of US Monetary Tightening

    J. Bradford DeLong

    A Cautionary History of US Monetary Tightening

    20

     points out that the last four episodes reduced employment and output far more than anticipated.

    Janet Yellen Ron Sachs/ZumaPress

    The US Federal Reserve has tightened monetary policy four times in the past 40 years, and all four time the impact on the economy was more harmful than expected. As the Fed prepares to tighten monetary policy once again, an examination of this history suggests that the US is about to enter dangerous territory. READ MORE

  5. Why the Fed Should Postpone Rate Hikes

    Anders Borg

    Why the Fed Should Postpone Rate Hikes

    8

     warns that policymakers lose credibility when they fail to adapt to changing realities.

    Janet Yellen Yin Bogu/ZumaPress

    As central bankers from around the world gather this week in Jackson Hole for the Federal Reserve’s annual Economic Policy Symposium, one key topic of discussion will be the current global stock-market turmoil. But financial volatility is only one reason why the Fed should not raise interest rates this year. READ MORE

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318 pages

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