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On the built-in instability of cryptocurrencies

The fall in valuation of Bitcoin has led to a debate over whether decentralised currencies can be reliably stable. This column argues that in contrast to the success of inflation-targetin...

A large house price depreciation can be good for economic growth, research finds

Rising housing prices are accompanied by higher household consumption and firm investment that boost economic growth. However, excessive house price appreciations may distort capital allo...

How do the monetary policies of advanced economies affect other countries?

What’s the future of China’s overseas investment?

Why do people save?

Is financial development always good for growth?

Can Germany save the euro?

Do housing bubbles always cause financial crises?