Showing 1 - 3 of 3
China's Stock-Market Red Herring
Business, Jeffrey Frankel, Published on 01/02/2016
» With the Shanghai composite index down more than 40% since last June, investors worldwide are watching the decline with growing concern -- but not because they are invested in the plummeting market (China stocks are overwhelmingly held by Chinese). Rather, the fear is that plunging equity prices mean that China's economy is going down the tubes.
The Blind Alley of Monetary Populism
Business, Jeffrey Frankel, Published on 14/11/2016
» In the US and elsewhere nowadays, populist politicians often claim that easy monetary policy is hurting ordinary workers, thereby exacerbating income inequality. But while inequality is a problem, raising interest rates is no way to address it.
The case against subsidising housing debt
Business, Jeffrey Frankel, Published on 31/05/2017
» At the end of the first quarter, according to the Federal Reserve Bank of New York, consumer debt in the United States for the first time exceeded its previous peak (in dollars), reached in the third quarter of 2008, just as the global financial crisis erupted. Although car loans and student debt have been rising especially rapidly, housing debt remains more than two-thirds of the $12.7-trillion total.