The case against aggressive government action on crypto
The financial regulators have recently taken an active interest in cryptocurrencies, more than a decade after their law enforcement counterparts did...
Opinion Pieces
What Silicon Valley Bank and Credit Suisse tell us about financial regulations
The downfall of Silicon Valley Bank and Credit Suisse has exposed failures in how we regulate the financial system. This column argues that the...
Lessons from the collapse of Silicon Valley Bank
The collapse of Silicon Valley Bank shows that banks still pose risks. Are they systemic? Jon Danielsson, Robert Macrae, and Nikola Tchouparov write...
The illusion of control: why the financial sector is more vulnerable than ever to a financial crisis
Reforms following the global financial crisis of 2008 were supposed to create a less risky financial world. But has a one-size-fits all approach to...
Cultural Stereotypes of Multinational Banks
Financial markets, even more than other markets, run on trust. This column uses hand-collected data on banks’ investments in European sovereign debt...
The beginning of the end for cryptocurrencies
Cryptocurrencies have enjoyed a remarkable run from obscurity to a trillion dollar valuation in just over a decade. This column argues, however, that...
The illusion of control
Global macroprudential and microprudential regulatory changes since 2008 have been designed to make a repeat of a systemic crisis much less likely...
Liz Truss has an opportunity to fix a critical financial regulation flaw
Effective financial markets provide the foundation for a highly productive and stable economy, but no UK regulator is responsible for the overall...
Choosing a numerical programming language for economic research: Julia, MATLAB, Python or R
Economic researchers can choose between four general purpose programming languages – Julia, MATLAB, Python, and R. This column evaluates the four...
Total factor productivity growth: we need a new drug
Creating the innovations that drive total factor productivity (TFP) growth takes both ideas and firms that process those ideas into new products or...
Bitcoin isn’t much of a macro hedge
Bitcoin is often sold as protection against adverse macroeconomic outcomes. This column argues that this depiction as a macro hedge does not stand up...
Covid-19 and trust among the young
Mishandled public health and other disasters erode young people’s trust in politicians for years
SUERF Policy Note - Stylised facts on debt and financial crisis
This policy note summarizes the main empirical findings on the role of debt in financial crisis. Credit booms – on mortgage debt, debt to the non...
Corporate legacy debt, inflation, and the efficacy of monetary policy
The COVID-19 pandemic has coincided with a further rapid increase in corporate indebtedness. This column argues that high levels of corporate debt may...
Cryptocurrencies and the war in Ukraine
The cryptocurrency exchanges have only done what is legally required of them when sanctioning Russia for its invasion of Ukraine, unlike the...
Sanctions, war, and systemic risk in 1914 and 2022
The Western countries have sanctioned Russia in a way not applied to any globally integrated major power in over a century, ever since 1914. This...
