What can governments do to influence inflation expectations when central banks’ policies prove insufficient to the task?
External sovereign bonds may provide pension-fund managers with the type of yield they're looking for.
U.S. economic growth has been higher than previously believed, but the largest economic imbalances remain unchanged.
Among the 11 advanced economies hit by the 2007-2009 crisis, only Greece has suffered a deeper economic depression.
Major central banks’ fixation on inflation betrays a guilty conscience for serially falling short of their targets.
A stop in capital inflows usually sparks a currency crash. Yet sovereign defaults in emerging markets have risen only modestly.
The U.S. share of the global GDP has been falling, yet the dollar remains the main reserve currency.
Moderate inflation will help erode the mountains of public and private debt advanced economies have built up in recent years.
There seems to be no end in sight to the global fixation on monetary easing.
The 2010-2016 period is not the first episode of widespread negative real returns on bonds.
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