"Morgan Stanley's Asia Chairman offers his views on investment opportunities in Asia As Morgan Stanley's chief Asia specialist, getting Asia right is Stephen Roach's personal obsession, and this in-depth compilation represents more than 50 of Roach's key research efforts not just on Asia, but...

From the days of George Washington through World War II to today, government investments have failed dismally. They not only drain the Treasury of cash but also impede economic growth, and they hurt the very companies they try to support. Why does federal aid seem to have a reverse Midas touch?...

We analyze the contribution of credit spread, house and stock price shocks to GDP growth in the US based on a Bayesian VAR with time-varying parameters estimated over 1958-2012. Our main findings are: (i) The contribution of financial shocks to GDP growth fluctuates from about 20 percent in...