Category Archives: Uncategorized

Brexit connundrum is not incompetence

David Allen Green’s latest blog – the latest in an FT series that has become compulsory reading – opines on a popular theory that the mess we are in has as its root cause the incompetence of Theresa May in … Continue reading

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The Office for Budget Responsibility’s Fiscal Risks Report

This is a new product.  It’s a tour de force, ranging from obscure line items on government finances, to some philosophising about the nature of uncertainty. But it is not beyond criticism.  This post pulls together tweets I sent last … Continue reading

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More crypto monetary dystopia: political fall-out of a partial take-over

Writing a serialised monetary policy dystopia seems to be a good way to thin out your readership, but I am going to plough on regardless. In the event of a partial take-over of a cryptocurrency, politics in the state may … Continue reading

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Central bank policy in the face of a crypto take-over

Continuing the dystopian theme – at least dystopian from the perspective of the fiat currency issuer – a partial take-over by a borderless cryptocurrency will pose interesting questions for central bank monetary policy. For starters, it will introduce a motive … Continue reading

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Crypto-currencies and the vestigial states they plunder

That headline was a bit strong. But a thought.  In a previous post on Alphaville I wrote about how the currency area that a private sector cryptocurrency created would be undesirable.  That was because it would likely straddle national borders, … Continue reading

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Accounts at the central bank: technical policy choice, or a right?

A simple point made to me recently at a talk on digital currencies is this.  There will come a point when comprehension that offering digital accounts with the central bank is possible becomes widespread.  Then, the discussion about whether it … Continue reading

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The flaw in the argument central banks have used to justify the rates first, QE later exit plan

Two posts ago, I mentioned that the basic plan central banks had for withdrawing stimulus was to go first with rates, and then scale back QE. That plan was based on wanting to avoid the risk that, if another recession … Continue reading

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