Housing affordability is at the centre of the political debate in many euro area countries. With steadily increasing rents and house prices still high relative to historical standards, many young households, particularly in large cities, are devoting an ever larger share of their income to housing expenses, and are finding it increasingly hard to access their desired size and quality of housing.
The power of mutual funds to influence economic and social choices through their voting behavior points to deeper ideologies driving institutional investors.
Fifty years ago the actions of the Federal Reserve mattered. Today, so far as the aggregate measures of the American domestic economy go, they do not.
Books discussed in this essay:
Sarah Binder and Mark Spindel, The Myth of Independence: How Congress Governs the Federal Reserve. Princeton: Princeton University Press, 2017.
Sociologist Michael A. McCarthy's latest book shows how ordinary people can take back control of financial capitalism and make it work for them.
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The country’s flawed insurance model, driven by greed, leads to inefficiency, inequality, and denied care - a colossal scam that has sparked fury across the nation.
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An interview with Thomas Ferguson on the 2024 US election conducted by Andrew Yamakawa Elrod and Tim Barker for Phenomenal World
First published at: Phenomenal World
Industrial organization economists have caused antitrust to cling to an antiquated and disproven economic theory.
Welfare economists and moral philosophers have shown that the Consumer Welfare Standard is biased in favor of wealthy individuals and corporations—the very powers the antitrust law is supposed to regulate.
The “doom loop” or “sovereign-bank nexus” has been a key factor in the European debt crisis, driven by feedback between fiscal sustainability risks and financial stability. This Research Bulletin revisits the doom loop, examining strategic default incentives and the unintended effects of policy interventions. While limiting banks’ exposure to sovereign debt can break the doom loop, it may increase default risks by weakening governments’ repayment incentives.
