crisis

The investment climate has proven extremely difficult for investors to navigate. Fed tapering and better world growth was to lead to higher interest rates. Yet interest rates for the developed world have fallen sharply in recent weeks.…

George Magnus is one of the few economists that could claim to have predicted the financial crisis which began in 2007. And last night, he spoke with great concern about the budding crisis now ongoing throughout the emerging markets. I have…

- The most important development has been the dramatic rate hike by the central bank of Turkey - The effective tightening by the Turkish central bank was 2.25% - a lot less dramatic than the headlines would suggest - The rate hikes in…

The global capital markets imploded in the second half of last week and investors spent the weekend contemplating the significance. The main focus was on the emerging markets, which were especially hard hit. Emerging market crisis have…

The ‘shadow banking’ sector is a loose title given to the financial sector that exists outside the regulatory perimeter but mimics some structures and functions of banks. This column introduces a new CEPR Policy Insight that looks into what…

Standard macroeconomic theory did not help foresee the crisis, nor has it helped understand it or craft solutions. This columns argues that both the New Classical and New Keynesian complete markets macroeconomic theories not only did not…

Below is the text of a speech delivered on Friday by Federal Reserve Chairman Ben Bernanke on the recent financial crisis and its similarities to financial panics like the Panic of 1907 (which led to the founding of the Federal Reserve in…

Today, I am not going to write about a specific topic but rather put together some random thoughts on the direction of the global economy. Next week, I will have some big things to say about the Fed and it's upcoming meeting. So I thought…

The first seven trading days of September have offered all of these markets some much needed breathing space with EM currencies, bond and equity markets all doing considerably better. It is thus tempting to conclude that this was just…

The latest data seem to suggest that China has so far been able to elude the severe economic headwinds faced by other emerging economies. Signs of stability have been around for a few weeks, but the first set of direct evidence came from…