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Berkeley professor and economist Barry Eichengreen reconciles the nominal and real interest rates to argue in favor of greater fiscal deficits. French econo

Macro innovations and asset alphas show significant mutual causation. April 2023   This brief article draws from the recent research publicati

Treasury bond yield curve inversion often signals the next economic recession in America. In fact, U.S. bond yield curve inversion correctly predicts the da

Chicago finance professor Raghuram Rajan shows that free markets need populist support against an unholy alliance of private-sector and state elites. When a

Chinese Belt-and-Road funds large international infrastructure investment projects primarily in East Asia, Central Asia, North Africa, and Italy. Chinese Be

The new world order of trade helps accomplish non-economic policy goals such as national security and technological dominance. To the extent that freer