[Bruegel] Powell’s Federal Reserve
[...] Kenneth Rogoff argues that with the appointment of Jerome Powell as the next Fed Chair, Donald Trump has made perhaps the most important single decision of his presidency. It is a sane and sober choice that heralds short-term continuity in Fed interest-rate policy, and perhaps a simpler and cleaner approach to regulatory policy. [...]
By Sylvia Merler
[ECB - W P Series] Structural reform waves and economic growth - Nov 2017 - n°2111
In this paper, we investigate the relationship between a wide range of structural reforms and economic performance over a ten-year time horizon.
At a time of slow growth in several advanced and emerging countries, calls for more structural reforms are multiplying. However, estimations of the short-and medium-term impact of these reforms on GDP growth remain methodologically problematic and still highly controversial.
Keywords: structural reforms, economic growth, synthetic control
By Pasquale Marco Marrazzo, Alessio Terzi
[Nytimes] Will Cash Disappear?
[...] Cash is unlikely to go away soon. Coins and paper currency remain the most popular ways to pay for things in most countries. But longer term, cash appears to be in a losing battle with electronic payment methods. [...]
By Nathaniel Popper, Guilbert Gates, and Sarah Almukhtar
[McKinsey] The neglected art of risk detection
[...] The modern risk-management framework generally relies on the “three lines of defense” scheme, with the businesses, control functions, and audit as the first, second, and third line, respectively. The concept borrows from the language of military strategy, in which intelligence plays a key role. [...]
By Piotr Kaminski and Jeff Schonert
Source : mckinsey.com