Greece remains exposed to the possibility of a sovereign default and the reintroduction of the drachma, but three historical case studies suggest that the former need not induce the latter.
Good economic news really is good news most of the time, statistically speaking. Folk wisdom to the contrary may stem from behavioral biases.
The dollar has appreciated sharply since the beginning of 2014, but the exchange rate plays a smaller role than it once did in driving international trade.
Investors seemed to underprice the risk of the Swiss franc de-pegging from the euro by more than ten standard deviations. What does this mean for other pegged currencies?
Historical drivers of emerging and frontier market equity returns may prove unreliable in the future, and correlations to developed market equity returns may increase.
Securities transaction (or “Tobin”) taxes clearly impose costs, but they may also create information inefficiencies that give skilled managers an advantage.