Tensions between economic (and financial) efficiency and democratic accountability are still unresolved http://t.co/RyBOzLEChL
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Category Archive: Rebecca’s Economic Intuition
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Is the ECB/EU Achieving Stated Objective of Balanced Growth?
The primary objective of the European Central Bank is to maintain price stability; however, as a compliment to its primary objective, the Eurosystem “shall also ‘support the general economic policies in the Union with a view to contributing to the achievement of the objectives of the Union’. These include inter alia ‘full employment’ and ‘balanced economic [...]
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What Is a Safe Asset?
Last month, David Beckworth at Macro and Other Market Musings had some interesting thoughts on the global shortage of safe assets. His essay got me thinking about what is a safe asset? Beckworth alludes to two definitions of ‘safe’: (1) a credit being AAA-rated, (2) satisfying a certain level of liquidity to be used in repo markets (an [...]
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Santa Claus as a Social Planner
Merry Christmas to all readers of the EconoMonitor and The Wilder View! Here’s a nice little model I discussed in 2007: The Economics of Christmas! Hope that you enjoy; I do. (This commentary was written in my more ‘academic days’ when I was inundated with models of theoretical macro. As you have no doubt noticed, I’ve gone the [...]
