ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

RiskSubscribe to Risk

Reforming the Risky Financial System

Other People's Money: The Real Business of Finance by John Kay; New York: Public Affairs, 2015; pp 352, $27.99 (hardcover).

Delinking Housing Cycles, Banking Crises, and Recession

The nexus of housing boom-busts, banking crises, and economic cycles is not unique to the last crisis and has been increasingly present in each of the major banking crises since the break-up of Bretton Woods in the early 1970s. Housing is a politically charged issue. A safer housing market, via planned fiscal intervention to steady supply, would do more to make the financial system safer than all of the other recent initiatives put together. Cheaper finance without cheaper homes only deepens housing inequality.

A Risk Perspective on the Union Budget 2001

Since the government has claimed to initiate second generation economic reforms with the budget for 2001-2002, it is useful to discuss the budget proposals with reference to their impact on the incidence of risk and the risk-bearing ability of the central government.
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