Some thoughts on macroeconomic models

By: Paul De Grauwe, K.U. Leuven and CEPS

The limits of DSGE models as tools of analysis for central banks.

Ben's depression

By: Wolfgang Münchau

A return to a monetary policy to stabilise prices ended the Great Depression in the 1930s. This time it will work the other way round. Once the Fed is forced back onto a path of price stability, our depression will begin.

The Credit Crunch – In 2008 The Worst May Keep Getting Worse

By: Satyajit Das

2007 may come to associated with the start of the "big" credit crunch. 2008 has begun with a number of "unresolved" items. Hope of an early resolution seems to be fading. In the words of Lily Tomlin, the American comedian: "Things are going to get a lot worse before they are going to get worse."

Getting desperate

There is clear blue water between us and the Americans

Job Description for a Rogue Trader

By: Satyajit Das

The authors offers some helpful advise to help banks create geniuses like Nick Leeson or Jérôme Kerviel.

How Contagion Works

By: Wolfgang Munchau

The timing of the SocGen rogue trader scandal is no accident. Market volatility is a real killer.