Tail Risk is Growing: But Not Where You Might Think
Risk is commonly measured by volatility as well as various types of interest rates and yields, for example the yield of credit default swaps. However, to what degree do these indicators reflect the real level of risk exposure in financial markets today?
Japan’s Economic Sun May Rise Again Thanks to Anti-Aging Medicine
The Japanese people are well-educated and industrious. In the 1960s, Japan’s economic growth rate was often over 10%, rising to an astounding 13%. By the 1980s, pundits and economists were telling us that the US should be copying Japanese economic policies. I knew people who studied Japanese because they were convinced that it would be the international language of business.