Corporate debt in emerging markets has risen significantly in recent years amid accommodative global financial conditions. This paper studies the relationship of leverage growth in emerging market (EM) firms to U.S. monetary conditions, and more broadly, to global financial conditions. We find...

As Jeff Madrick makes clear, the single-minded pursuit of huge personal wealth has been on the rise in the United States since the 1970s, led by a few individuals who argue that self-interest guides society more effectively than community concerns. In telling the stories of these politicians,...

This paper illustrates why the European Central Bank has obligations that go far beyond economic and financial market-related responsibilities. As a European institution, it is committed to a core set of values, especially with regard to the preservation of human rights. These obligations are...