crisis

The real takeaway, however, is that the solution to the fiscal cliff problem involves some combination of tax increases and federal spending cuts. To the extent that at least some of it is front-loaded into 2013, which is likely, the result…

Three years on, I remain absolutely convinced that deflation, driven primarily by consumers eager to repair their balance sheets, will be a powerful force for many years to come but, at the same time, I must admit that I see worrying signs…

I have been an observer of financial markets, and of those who operate within the markets, for almost 30 years. I have never before experienced investors paying more attention to career risk than they do at present. A preoccupation with…

By Andrew G Haldane, Executive Director, Financial Stability, Bank of England There is a long list of culprits when it comes to assigning blame for the financial crisis. This column argues economists are among the guilty, having succumbed…

The global economy has been slowing for nearly a year now, both in developed economies and in emerging markets. Things were already weak before this global growth slowdown began. It almost seems like we have been in a permanent state of…

I have had a lot of other things on my plate and haven't been able to write as regularly as I would like. But I am going to try to increase the volume of posts by putting out more quick hits like this one that capture my macro view without…

The culture of fraud in economics is a severe problem, and Harvard is a “hot spot” of that culture.

Below is the full text of the European' Commission's Memorandum of Understanding with Spain regarding the bailout of the Spanish banking sector released earlier today.

Many orthodox economists ironically adopt something close to a “loan pusher” argument: the excess global saving pushed interest rates down, leading to excessive borrowing by debtor nations that consumed beyond their means. Although the…

Just when you think that things can get no worse in Spain, they do.