Powell Faces Pressure From Multiple Fronts as Fed Prepares to Cut Rates
The chair of the central bank is dealing with internal divisions while being besieged by President Trump and front-runners jockeying to replace him.
Misestimating house values: consequences for household finance
This study examines the effect of systematic household misestimation of home prices on financial decisions, including stockholdings, consumption, and asset allocation.
Asset prices, wealth inequality, and welfare: safe assets as a solution
Can rising asset prices reduce wealth inequality? This paper builds a continuous-time heterogeneous-agent general equilibrium in which entrepreneurs hold risky private capital and traditional savers hold safe assets. Safe-asset expansions—via financial innovation, public debt, or a stable equity bubble—operate through a single pass-through: they lower entrepreneurs’ undiversified risk exposure, compress risk premia, and raise the interest rate.
Misestimating house values: consequences for household finance
This study examines the effect of systematic household misestimation of home prices on financial decisions, including stockholdings, consumption, and asset allocation.
Asset prices, wealth inequality, and welfare: safe assets as a solution
Can rising asset prices reduce wealth inequality? This paper builds a continuous-time heterogeneous-agent general equilibrium in which entrepreneurs hold risky private capital and traditional savers hold safe assets. Safe-asset expansions—via financial innovation, public debt, or a stable equity bubble—operate through a single pass-through: they lower entrepreneurs’ undiversified risk exposure, compress risk premia, and raise the interest rate.
PM’s rivals rally to farmers’ cause as protests continue across country
The confrontation between Greece’s government and protesting farmers has become the dominant theme of the domestic political agenda, exposing cracks within the ruling party and offering fertile ground for opposition manoeuvring.
Have Trump’s Tariffs Gone as High as They Can Go? Businesses Hope So
A wave of companies are petitioning for exemptions from the Trump administration’s high levies on foreign-made goods, saying they are hurting business and raising prices.
Sweden’s mining industry is threatening the Indigenous Sami people’s way of life
“There is so much intrusion from all sides and corners,” a Sami reindeer herder tells me, reacting to a government decision to grant a mining permit in Gállok in the Sápmi region in Sweden’s far north.
Sápmi is the communal land of the Indigenous Sami people. Their land ranges through northern parts of Norway, Sweden, Finland and Russia.
Low-tax or high-welfare? The UK must decide what type of country it wants to be
Perceptions of a high-tax UK are wide of the mark. Steve Travelguide/ShutterstockHeadlines about tax in the UK being at an all-time high abounded after the autumn budget. The current overall tax take, at 35% of GDP, is indeed a historic high for the country. And the measures announced in the budget will take it to 38% by the end of the parliament.
Is the dominance of the US dollar unravelling under Trump?
The dominant global financial position of the US and its currency, the dollar, is wobbling under the second Trump administration. AURA88 / ShutterstockThe US has long sat at the centre of the global financial system, with the US dollar serving as the backbone of the world economy. Private investors rely on the dollar as a store of value in times of uncertainty.
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