Tag Archives: financial stability

As the Federal Reserve meets today to decide how to communicate its messaging on future rate hikes and balance sheet reduction, financial stability will play a key role. Yesterday, I wrote about the Bank of International Settlements new warnings on financial stability. And just this morning, I read a piece from Goldman Sachs Asset Management EMEA division head Andrew Wilson, warning that the risk of overheating was real. So let’s put some framing around this issue and ask how the Fed reacts...

Speech by Mr Andrew G Haldane, Executive Director and Chief Economist of the Bank of England, (co-authored with David Aikman, Sujit Kapadia and Marc Hinterschweiger), at the "Rethinking Macroeconomic Policy IV" Conference, Peterson Institute for International Economics, Washington DC, 12 October 2017.BISAndrew G Haldane: Rethinking financial stability

Link to web application written in R using Godley ratios.The Case for Concerted ActionUnsustainable Processes Of The EUV. Ramanan

Participants Lakshman Achuthan, Cofounder and Chief Operations Officer, Economic Cycle Research Institute Robert J. Barbera, Codirector, Center for Financial Economics, The Johns Hopkins University Fernando J. Cardim de Carvalho, Senior Scholar, Levy Institute; Emeritus Professor of Economics, Federal University of Rio de Janeiro (UFRJ) Michael E. Feroli, Chief US Economist, JPMorgan Chase & Co. Scott Fullwiler, Professor of Economics, University of Missouri–Kansas City Esther L. George,...

On October 30th 2015, I gave a keynote speech at Birmingham University's Finance Forum on the implications of Grexit and Brexit for financial stability. I've now written this up as a paper.I start by outlining the purpose of financial stability. Since the 2007-8 financial crisis, “financial stability” has been all the rage. We must prevent another crisis: we must solve the problems that make our financial system “unstable”.  But what exactly do we mean by “financial stability”? Most people...

The FT reports that due to “modest but rising credit growth”, the Bank of England’s Financial Policy Committee (FPC) considered raising banks’ countercyclical capital buffer. According to the FT's Caroline Bingham: This measure requires lenders to build up capital in good times to draw down in more challenging times.  And she goes on to say this: The prospect of yet more capital that banks must set aside would come on top of capital rules on a European and global basis that lenders must...