What exactly is liquidity? The word liquidity is used in many different ways, often confusingly. It’s important to keep clear the centrally important concept of what liquidity is: the ability to turn assets into money quickly and at low cost. … Continued
In recent weeks I’ve written two articles explaining why I believe that the proposed Hinkley Point C nuclear power project should be abandoned (though it still seems at present reasonably likely that the French government will proceed). The Guardian: Hinkley Point … Continued
I’ve been asked a lot recently about my view on whether the UK should leave the European Union, which is the subject of a national referendum on June 23rd. I believe that in economic terms, there is very little that … Continued
On International Women’s Day it’s nice to report some more interesting research from the International Monetary Fund (IMF), this time showing that gender diversity in senior corporate positions is positively associated with corporate profitability. * The IMF authors (Lone Christiansen, … Continued
The Economist article is here. I agree with pretty much everything in the article but then it’s largely based on my book and my previous blog on why I hope the French government and EDF will abandon the project.
The world’s most expensive power station project, a new nuclear reactor at Hinkley Point C in the UK, still hasn’t reached financial close, despite backing from the UK, French and Chinese governments. It might be best for the UK if … Continued
The Cambridge News interviewed me recently and you can read the result here: https://www.cambridge-news.co.uk/nuclear-soap-opera-explained/story-28728745-detail/story.html
Women’s access to health, education, economic opportunity and political power have been improving but the picture is very uneven geographically. Although most indicators improve with economic development the variation shows that a lot can be done even before countries reach … Continued
Exchange rates are ratios of the price of one currency to another. We should be careful about saying “the” exchange rate without being clear as to which particular ratio we mean and why. * Exchange rates often dominate the financial news. … Continued
The turbulent financial markets in early 2016 can be seen as a battle between two groups of ideas – the economists see little reason for sudden concern but the markets are worried about hidden risks * Global stock markets performed worse … Continued
David Bowie, among his many other creative achievements, was an innovator in finance, with the first ever intellectual property rights securitisation. * Nearly everyone seems to have been affected by the death of David Bowie, a uniquely creative and influential … Continued
The ever fascinating blog of the New York Fed tells us that, among the many different types of bank note issued by around 1,600 US banks during the nineteenth century, some included pictures of Santa Claus. Only in 1861 did the Federal … Continued
Be kind, for everyone you meet is fighting a hard battle. Plato (possibly – it is disputed) [I]in the whole world there are really only two problems. [..] One problem is, “you know what you want but you don’t know … Continued
Nuclear energy brings a lot of problems but it is a necessary part of the fight against climate change * I recently did a webinar about the planned new nuclear power station at Hinkley Point in Somerset, based on part … Continued
On 30 November 2015 the IMF voted to include the RMB (the Chinese “people’s currency” denominated in yuan) in the basket of currencies it uses to calculate the value of the Special Drawing Rights, from October 2016. This is largely … Continued