How abnormal was the stock market in October 2008?

By: Paul De Grauwe, Leonardo Iania, Pablo Rovira Kaltwasser

Last month saw a stock market move with a probability of occurring only once in 73,357,946,799,753,

900,000,000 years. What does this tell us about modern finance?

The depression of 2009

Wrong government policies on both sides of the Atlantic are turning a crisis into a catastrophe.

Two scenarios for the financial crisis

By: Wolfgang Munchau

There are two ways this crisis can development. The financial system will experience a systemic hit, or inflation might rebound. There are circumstances where both can happen.

With friends like these, who needs enemies

By: Eurointelligence ECB Watch

Central banks get a lot of bad advise once inflation rise above the target. Many erstwhile advocates of inflation targeting are now showing their true colours. In this entry, we are compiling some of this bad advice.

Some thoughts about causes and consequences

By: Wolfgang Münchau

One of the biggest fallacies of the current debate is that the high oil price casues inflation. That is not true. Central banks causes inflation.

The ECB and the Fed

By: Charles Wyplosz, Graduate Institute of International Studies

Facing different situations, the Fed and the ECB muddle through, each in its own way.