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June 1, 2014

Latest Posts from Economist's View

Latest Posts from Economist's View


A Review of Debraj Ray's Review of Piketty

Posted: 01 Jun 2014 04:21 AM PDT

Branko Milanovic:

Where I disagree and agree with Debraj Ray's critique of Piketty's Capital in the 21s Century, by Branko Milanovic: Two people whose opinion I hold in very high esteem have told me, "Read Debraj Ray's critique of Piketty; It is the best written yet." I have read it before, but only in parts, and have focused on a few rather unimportant points in the first part of Debraj's piece. So I decided now to read it carefully, and in full. It is a short piece, some 9 pages long. It is very well and clearly written. There are many things with which I agree.  But there are also many with which I do not. Let me start, because it is more fun, with the latter. ...

Links for 6-01-14

Posted: 01 Jun 2014 12:06 AM PDT

Are Banks Too Large?

Posted: 31 May 2014 11:01 AM PDT

At Vox EU:

Are banks too large?, by Lev Ratnovski, Luc Laeven, and Hui Tong: Summary: Large banks have grown and become more involved in market-based activities since the late 1990s. This column presents evidence that large banks receive too-big-to-fail subsidies and create systemic risk, whereas economies of scale in banking are modest. Hence, some large banks may be 'too large' from a social perspective. Since the optimal bank size is unknown, the best policies are capital surcharges and better bank resolution and governance.

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