This essay has just been published as Chapter 21 in “The Changing Fortunes of Central Banking”, edited by Philipp Hartmann, Haizhou Huang and Dirk Schoenmaker. Cambridge University Press.
CAEGChapterpdfDimartino Booth refers to the speech which I gave on that occassion ” Ultra-Easy Money: Digging the Hole Deeper?”
MauldinDimartinrefWWJohn Mauldin refers favourably to my suggestion that perhaps easy monetary policy is creating disinflation, as debt headwinds reduce demand and zombie companies increase supply.
http://www.mauldineconomics.com/frontlinethoughts/data-dependent-on-imaginary-data
This article was published on the op-ed page of the Financial Times on 18 February 2018
https://www.ft.com/content/e1dc1286-0ccb-11e8-bacb-2958fde95e5e
This article was co-authored with others and constitutes an official version of the conference proceedings. William White gave his personal summary at the end of the meeting, and his comments can be found on this website under Presentations.
https://www.bankofengland.co.uk/quarterly-bulletin/2018/2018-q1/boe-hkma-imf-conference
This article was published in the spring 2017 edition of “The International Economy”.
It is argued that global non-financial debt levels (public plus private)are now so high they constitute a kind of “debt trap” for monetary policy. Interest rates must be raised to prevent debt levels from rising further, but cannot be raised without triggering another crisis that we all wish to avoid. It is imperative to take measures to prevent a disorderly restructuring or repudiation of debts that can not be serviced at higher interest rates.
InternationalEconomyDebtTrapThis video records William White’s presentation to MA students in the EPOG program on 16 January 2018 in Paris.
This video includes William White’s presentation at an American Enterprise Institute conference in Washington on 14 February 2018. Mr White’s remarks begin about one hour after the start, which featured a presentation by Alan Greenspan.
