Did you ever wonder...
Is the business cycle a credit cycle? When is credit good for economic growth? Does credit growth increase the debt burden? Is the financial sector too large? What do banks do? How can bank reform make a difference? When does money growth lead to inflation? What does quantitative easing ease? Is public debt more harmful than private debt? How can international capital flows be helpful, and when are they harmful?
If you're still reading, read on. The tabs give you access to my published and unpublished research, popular pieces, talks, documentaries and TV bits.
The Related Research tab badly needs an update - bear with me!
In the Graphs at the end, you can check out the development of bank credit flows to firms and households in many countries. This data underlies most of our empirical research.
Why not start by reading the latest featured piece: "Towards an Accounting View on Money, Banking and the Macroeconomy"