Author Archives: Francesc Rodríguez Tous
Seven myths about education, by Daisy Christodoulou
Since my daughter was born, almost a year and a half ago (already!), I have been concerned about how to educate her. My own experience suggested that even the education from some of the best primary schools might still fall … Continue reading
Finalising Basel III
After several years, Basel III has (almost) been finalised. Basel III is the third iteration of the Basel Accords, minimum international standards for prudential regulation of banks. It started after the financial crisis, when it was clear that Basel II … Continue reading
Mankiw and Weinzierl 2011
While working on a project in its very early stages, I stumbled upon this paper by Mankiw and Weinzierl from 2011 in the Brookings Papers of Economic Activity. It is a very simple macro model with monetary and fiscal policy … Continue reading
Post-crisis regulation and bond liquidity
One of the best blogs to follow about research on banking is the blog by the NYFed, Liberty Street Economics. In a recent post, they discuss the results of their JME paper on whether post-crisis regulation is affecting bond liquidity … Continue reading
What will happen with Dodd-Frank?
Post-crisis banking regulation seems to be under thread given the direction that the Trump presidency is taking on this matter. We have a US Representative asking Yellen to basically sit down and do nothing until the President figures out how … Continue reading
QE – The story so far
Three months ago, Andy Haldane came to Cass to give the Dean’s Lecture. The lecture was about Quantitative Easing. It is now available on Youtube here, so enjoy! The working paper version of this work can be found here.
Ending too big to fail
One of the most interesting sessions in Chicago during the last ASSA Annual Meeting was about ending too big to fail. Neel Kashkari presented the Minneapolis Fed plan and Markus K. Brunnermeier and Randall Kroszner gave their view on the plan. … Continue reading
The “crisis” of economics
Andy Haldane, chief economist at the Bank of England, has recently repeated the claims about the crisis of the economics profession. I have discussed this issue with many people since the financial crisis, and I was going to write something … Continue reading
Leverage ratio and repo activity
In the previous post, I briefly mentioned some of the potential issues of the leverage ratio (LR). To be fair, these are only issues to the extent that the regulators did not foresee and did not include these consequences in … Continue reading
The unintended consequences of the leverage ratio
The leverage ratio is one of the main innovations in the new banking regulatory framework, Basel III. It imposes a minimum amount of Tier 1 capital that depends on the size of the balance sheet, without any consideration for the … Continue reading
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