I read an interesting book this past weekend by Nick Schultz and Arnold Kling: From Poverty to Prosperity. It's a nice exposition of how life has changed over the past 100 years (mainly for the good), ...

Why it's as if there were a tax on the non-financial portions of the economy that redistributes wealth to the financial sector. The financial sector provides a crucial function to society. It ...

The Financial Stability Board has published a consultation report on policy measures to address leverage in non-bank financial intermediation where it can create financial stability risks. The ...

In the early days of bitcoin, I was explaining the technology to economist Edward Stringham. This new market-based money allows individuals to exchange peer-to-peer without financial intermediation, I ...

Economic decisions reflect market-participants’ trust in one another and confidence in the future. This applies to decisions by entrepreneurs on potential investments, by households on entrusting ...

The European Commission is seeking the views of stakeholders on policies to guard against the build-up of systemic risk in the financial sector beyond banks. This ECB Blog post describes the pillars ...

The Financial Stability Board (FSB) on Wednesday pitched recommendations for governments to reduce risks around hedge funds, insurers and other non-bank financial intermediaries, which now account for ...

This paper argues that better governance practices can reduce the costs, risks and uncertainty of financial intermediation. Our sample covers high-, middle- and low-income countries before and after ...

In only a decade after independence, the three Baltic states—Estonia, Latvia, and Lithuania—have transformed themselves into fully functioning, small open market economies that are on the verge of ...