Matt Nolan • Mar 14, 2014 •
I had to do a brief chat about the Global Financial Crisis, “mistakes” that were made, and the role of the international financial architecture, for a organisation I’m not naming with people I’m not naming. It was Chatham House rules, but nothing particularly rough was said – so I’m more not naming anything as I […] … Read More
Matt Nolan • Dec 05, 2013 •
Keeping in mind Shamubeel’s point that we need to be careful looking at aggregates, I thought it would be nice to update the graph from this post back in early-2009 – when people were talking about 11% unemployment (Note: I have moved both series across a year). Cheers Statistics NZ. This supports the type […] … Read More
Matt Nolan • Jun 12, 2013 •
A quote via Scott Sumner: But debt doesn’t make workers want to work less, it makes them want to consume less. There is a difference. We need economists to look Continue Reading → … Read More
James Zuccollo • May 10, 2013 •
In the EJ: There is strong evidence that house prices and consumption are synchronised. There is, however, disagreement over the causes of this link. This study examines if there is Continue Reading → … Read More
Matt Nolan • Apr 18, 2013 •
I see the Rogoff-Reinhart figures regarding the correlation between GDP growth and the size of the debt stock are currently under attack – due largely to an unfortunate excel error Continue Reading → … Read More
Matt Nolan • Feb 22, 2013 •
Fascinating post by Stephen Williams, who is a great monetary economist. In it, he goes through speeches at the Federal Reserve from September 2007 – a few months into the burgeoning credit crisis. In it he shows that there was a debate between the views of “inherent instability” and “induced fragility” for what was going [...] … Read More
Matt Nolan • Dec 04, 2012 •
Over at Rates Blog the trilogy of articles I’ve put up about the GFC has been completed with this one. The first two artices are here and here, and the blog post I did on them are here and here. Infometrics will be popping up some more articles on Tuesday’s, but they won’t be on [...] … Read More
Matt Nolan • Nov 27, 2012 •
Rates blog posted another article by me, this time talking about why the GFC persisted. So in the first one I laid down Fed actions as the catalyst, and in the second one I’ve primarily laid the blame on institutional confusion in Europe. I’m not sure anyone will find this article, by itself, particularly enlightening. [...] … Read More
Matt Nolan • Oct 03, 2012 •
Previously we’ve talked a lot here about the lender of last resort function of a central bank. In discussions a trade-off is often discussed, whereby having a lender of last resort can help to prevent financial crises when financial intermediaries are suffering from issues of “illiquidity”, but are not “insolvent” – however, the existence of [...] … Read More