Tag Archives: Central Banking

In a recent post, Ester Faia and Ignazio Angeloni express their astonishment about the fact that in an environment of low inflation rates, stable growth in a overwhelming number of countries, sound monetary and rapidly improving fiscal policies, market deregulation, globalization and — as as I personally would add — under the usage of these beautiful micro-founded macroeconomic models effectively in place in most modern central banks, a financial crisis of such a proportion can arise.  Read more...