Let the Market Economy Decide the ECB’s Limits

New column over at the HuffPost: here.   The ECB acts like its hands are tied, when in reality, they should have much more room to run.  A failure to communicate and/or a failure to understand the idea of “monetary financing” by ECB policymakers.  This is fixable.


Presentation: The Safe Asset Shortage

3 days of the “Europe in Crisis” conference in Madison, WI have come to a close.  A fantastic conference with even better speakers—ranging from Gillian Tett of the Financial Times to Chad Bown of the Peterson Institute, and everyone in between.  Great insights on Brexit, the euro crisis, populism, and more.  I presented on Europe’s safe asset shortage and the mechanisms by which it is hindering the economic recovery. (Slides below.) Thanks to all the attendees, speakers, and conference organizers (European Horizons) for the great conference.

Yes, The World Does Have a Shortage of Safe Assets…And Central Banks Aren’t Helping

My latest over at The Huffington Post. A wonkish look at the safe asset shortage and the waning efficacy of quantitative easing: http://www.huffingtonpost.com/european-horizons/yes-the-world-does-have-a_b_14636524.html

Central Banks Should Focus Stimulus Efforts on Equities

Weak economic activity, central bank balance sheet risks, and misaligned investor incentives can be alleviated.  My latest at the Huffington Post: http://www.huffingtonpost.com/european-horizons/draghi-other-central-bank_b_11968802.html