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Saturday, October 12

12th Oct - Weekender: Economics & Markets

Previously on MoreLiver’s:

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Emerging Market Macro Misery Back At Post-Crisis HighsZH

Hank Greenberg’s narcissistic and deluded defense of Jamie DimonCJR

Thomson Reuters to Expand Eikon Instant MessagingWSJ
Why Thomson Reuters and Markit could give Bloomberg a run for its moneyQuartz
Thomson Reuters tackles Bloomberg chat dominanceFT

This once-$14B hedge fund's future is in doubtCNBC
World's One-Time Largest FX Hedge Fund On Verge Of ShutdownZH

Global Hedge Fund Assets Near $2.35tr As Big Firms Drive GrowthBCA

How to Look Under a Hedge Fund's HoodWSJ
Seven questions investors should ask before investing

Walking dead updatealphaville / FT
The latest monthly performance figures for the hedge fund industry are out — and those funds still breathing had a good-ish month, up 1.6 per cent on average in September, according to HFR.

Economics: the biggest fraud ever perpetrated on the world?Pieria

Global Impact and Challenges of Unconventional Monetary PoliciesIMF
Background PaperIMF

The Life And Death Of A Massive Debt Bubble In Seven Charts ZH
Citi’s Matt King: “the slate has still not been wiped clean”

Five Questions About Unconventional Monetary Policy That’ll Be Answered Only 10 Years From NowWSJ

Blogs review: The expansionary effect of bond vigilantesBruegel
An FT column by Kenneth Rogoff – where the author argued that the UK’s austerity approach was an adequate insurance policy against the possibility that investors would stop buying British government debt – has generated an interesting debate in the blogosphere about whether an attack of bond vigilantes would actually be contractionary for a country that still retains a floating exchange rate.

A question of justiceCoppola Comment
People of libertarian persuasion are often very keen on the idea that Government should "defend property rights". Their view is that the assets they own are theirs by natural right, and it is the Government's job to defend that right. I find this view bizarre.

Borrowing from the Future — Except that We Aren'tNoahpinion

Introducing Post-Keynesian EconomicsPieria
Examining one of the alternatives to neoclassical economics.

On Savings & Capital StructurePieria
Some people believe savings are the source of all Capital. Are they right?

Central bank policies - the way forward after the crisisBIS (pdf)
Speech by Mr Stefan Ingves, Governor of the Sveriges Riksbank and Chairman of the Basel Committee on Banking Supervision, at the Royal Bank of Scotland, Stockholm, 4 October 2013.

Key developments in the tri-party repo marketBIS (pdf)
Introductory remarks by Mr William C Dudley, President and Chief Executive Officer of the Federal Reserve Bank of New York, at the Workshop on "Fire Sales" as a Driver of Systemic Risk in Tri-Party Repo and Other Secured Funding Markets, Federal Reserve Bank of New York, New York City, 4 October 2013.

The fire-sales problem and securities financing transactionsBIS (pdf)
Speech by Mr Jeremy C Stein, Member of the Board of Governors of the Federal Reserve System, at the Workshop on "Fire Sales" as a Driver of Systemic Risk in Tri-Party Repo and Other Secured
Funding Markets, Federal Reserve Bank of New York, New York City, 4 October 2013.

The wealth pyramidalphaville / FT
From Credit Suisse’s newly-minted Global Wealth Report.

The Myth Of The Money Multiplier Econospeak

Money, Reserves, and the Transmission of Monetary Policy: Does the Money Multiplier Exist? – FED (pdf)

Contemporary Money and Banking Arnold Kling

Money multipliers, real and imaginedThe Money Illusion