Articles
Articles and analyses from the INET community on the key economic questions of our time.
Article
The Lehman Crisis and the Unfinished Business of Financial Reform
what have we learned from the crisis and what should we have learned?
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Europe: Is the Union over?
Article
Dilemma Not Trilemma: The Global Financial Cycle and Monetary Policy Independence
The global financial cycle has transformed the well-known trilemma into a ‘dilemma’. Independent monetary policies are possible if and only if the capital account is managed directly or indirectly. This column argues the right policies to deal with the ‘dilemma’ should aim at curbing excessive leverage and credit growth. A combination of macroprudential policies guided by aggressive stress‐testing and tougher leverage ratios are needed. Some capital controls may also be useful.