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The moderate increases in the European Central Bank’s interest rates are far from being brutal but the writing is on the wall that Europe’s monetary party is about to end, and Southern Europe has remarkable parallels to Mexico and Latin America in the 1980s. Of all the places in history, Mexico in 1982 could give us a hint about the future of European monetary policy. Read more

Hades, God of the Greek underworld, decreed that Sisyphus, for trying to cheat death, must forever push a heavy boulder up a hill. It would roll back down again every time. Read more

There are many fashion treasures from the past that keep coming back. Long flowered dresses, cut-up jeans, or bell-bottom pants: fashion is cyclical. Read more

It’s hard to solve a problem like Working for Families. The most frustrating thing, for an economist who watches policy, are the policy dollar bills left lying around on sidewalks. Read more

The media has largely ignored economics in the last couple of years. The return of inflation, however, has brought economic topics back into people’s minds and into media coverage. Read more

We explained in our November research report "Walking the Path to the Next Global Financial Crisis" why concerns about prolonged economic stagnation, or even serious recessions, should be taken seriously. During the 2008-2010 global financial crisis, governments' responses had turned a banking crisis into a public debt crisis. Read more

Three bits of news from the world of finance and central banking this week: The Reserve Bank increased the cash rate by 50 basis points. A HSBC manager in Britain has been suspended for criticising climate-based financial regulations at a conference. Read more