Freshwater macro, China's silver standard, and the yuan peg

1934 Chinese silver dollar with Sun Yat-sen on the obverse side. The ship may be in freshwater. I've been hitting my head against ...

Hike rates when you hear the creak of inflation at the door, not when you see the whites of its eyes

Fed to raise interest rates next week, a common argument is that the asymmetry of the risk it faces. If it keep interest rates low for ...

Negative skewness, or: bulls walk up stairs, bears jump out of windows

Recent market performance in the market is a good reminder asymmetrical. Under normal circumstances, the stock market rise is not like...

How many bullets does the Bank of Canada have left in its chamber?

It's been a while since I blogged about Canadian monetary policy, but Luke Kawa's recent tweet on the topic of Canada's effe...

Andy Haldane and BOEcoin

The 1995 British two pound "Dove" coin Moneyness - Chief economist at Bank of England's Andrew Haldane • The ...

Why big fat Greek bank premiums?

National Bank of Greece depository receipt certificate ( source ) If you're like me, you like to: 1) explore markets abnormalities...

Know thyself... or carry a wallet

  Of all the axioms of utility theory, the completeness axiom is perhaps the most questionable.    - Robert Aumann, Nobel Prize Winner ...