Ten years after the financial crisis, Trump’s rise to power is a consequence of poor governance.
A general challenge facing competition authorities in the digital era is learning how to apply the traditional tools of competition policy in multi-sided platform environments. This column argues that the Google Android case offers a great…
China just torpedoed a major global deal between two non-Chinese chipmakers. It is a signal of China's market power. Some thoughts below
Lots of positives. The earnings data looks good. This Goldilocks period for the US looks set to continue. Even Germany has shown some signs of economic strength recently.
There are two ways to explain persistently high corporate profit margins. One interpretation is about inequity, and implicitly about corporatism masquerading as liberty. And the other is about network effects creating an age of winner take…
At least initially, rate increases can be procyclical. Moreover, in this particular cycle, fiscal and regulatory policy are acting procyclically too. That means you need a lot of rate hikes to get a big anti-cyclical effect.
Last week, Lael Brainard gave an important speech on financial stability. In effect, she said the Fed is likely to require increased capital buffers in the future. The key to if and when is in how large mitigating factors are in keeping…
The London Inter-Bank Offered Rate is an important benchmark for trillions of dollars of contracts. The problem is that it was rigged. The Secured Overnight Financing Rate may be an interesting alternative.