Administering monetary medicine
Clinical research has found that a doctor’s reassurance promotes health outcomes and healing. With central banks, it is the same. [...]
Publications
Debt-financed infrastructure spending won’t solve Germany’s problems
It must indeed be tempting to binge on infrastructure spending as Berlin can now borrow for 30 years at a negative interest rate of 0.11 percent. But should the Germans do so? [...]
When comedy meets ignorance
The prospect of a new Taika Waititi movie is usually a reason for joyful anticipation. However, watching the trailer of Jojo Rabbit and reading the first reviews left me appalled. [...]
The constitutional case for Boris Johnson
I am generally a fan of direct democracy, but even I have to concede that it is logically impossible to combine Westminster-style democracy with referenda. [...]
Speak your mind
We need less nice and more candour. It is pointless holding conferences where delegates censor their own presentations without being told to. [...]
The purpose of business is profit
Just as we should not change the basic rules of rugby lest we destroy the game itself, we should not change the basic principle of the market, either. In rugby and in capitalism, the purpose is to win. [...]
The next Euro crisis could be made in Germany
At the beginning of the century, The Economist famously called Germany the “sick man of Europe”. The way things are going, we are likely to read similar headlines again soon. [...]
The Unreserved Bank
The RBNZ needs urgent clarification that the Monetary Policy Committee will only pursue monetary goals, even under conditions of quantitative easing. [...]
The Unreserved Bank of New Zealand
As the Reserve Bank takes on fiscal functions, its political neutrality and commitment to monetary stability, as well as maximum sustainable employment, need to be re-emphasised. [...]
The open society needs open minds
Let us celebrate the relative civility of our domestic politics and defend robust and constructive debates. [...]
