With bond yields collapsing in Europe the implied “bank run” on the periphery appears to be over. This is due to the ECB backstopping European banks for the next three years – in some sense they have taken on the lender of last resort role, just in a confusing, seemingly temporary, and poorly communicated way. […]
It’s good – and its pretty easy reading. You guys should give it a go. My main focus was on the starting paper on consumption, which just gives a basic overview of how to view total consumption in New Zealand, and then uses this framework to understand some stylized facts regarding NZ in the past […]
Today’s Fed statement about monetary policy followed the same pattern that we have seen from other central banks, such as the RBA and RBNZ. Essentially, fundamental conditions remain a bit weak, and so there is a reason to keep policy stimulatory – however, this view is strongly conditional on the ECB/Europe not being bat sh*t […]
I will be doing a presentation for the blogging community this Saturday in Wellington. We will meet out the front of 109 Featherston St (diagonally from Pita Pit) at 12pm. During the presentation I’ll cover the follow: An overview of what’s going on in Europe, what we need to keep an eye out for, and […]
Great article from Shiller on neuroeconomics. The more justification, and more positive side, of neuroeconomics is mentioned here: Under Samuelson’s guidance, generations of economists have based their research not on any physical structure underlying thought and behavior, but only on the assumption of rationality. As a result, Glimcher is skeptical of prevailing economic theory, and […]
I’d just like to say thanks to the people who turned up to the presentation in Auckland on Friday, I hope you had as much fun as I did! Everyone that was there had interesting points and questions, so I thought it was just great. I will be doing the same thing in Wellington on […]