“The Changing Housing Cycle and Its Implications for Monetary Policy”
The authors argue that as mortgage markets develop, it becomes easier for problems in these markets to spillover to the rest of the economy. Because of the increased vulnerability of the economy to mortgage market problems, monetary policy should be more aggressive in countries where mortgage markets are well-developed: The changing housing cycle and its implications for monetary policy, by Roberto Cardarelli, Tommaso Monacelli, Alessandro Rebucci, and Luca Sala, Vox EU: After several years o
How to go broke on $100,000 a year
How to go broke on $100,000 a year This page has been making the rounds, and I thought it was kind of interesting: When $100,000 makes you Go Broke: The Invisible Hand Forces Americans Into Debt. Frankly some parts of this budget seem unrealistic: a mortgage debt of just $350k for a house? Making donations when your budget looks like this? Saving for retirement when your budget looks like this? Just $50 for cell phones? Given how difficult it is for most people to get a true grasp of