zombie economy n.— «Yuen Pau Woo was the economist responsible for Japan in Singapore’s central bank when the Japanese bubble—helped by a run-up in real estate prices that made Park Ave. co-ops look affordable—caused the world’s second...
helicopter money n.— «it’s time to think about so-called “helicopter money.” While most people understandably worry primarily about the US housing market, the real threat to our economic security is now coming from the...
sterilisation n.— «Central banks build reserves by creating domestic currency to buy the dollar and euro reserves. This has a cost, via inflation or through what is known as “sterilisation.” Sterilisation costs arise when a...
hog n.— «There are, however, a number of investors—for example, central banks and pension funds—that rely only on the rating agencies for their information. Thus they fail to act when the markets start moving, and are forced to act when...