Nicolas Cachanosky

Financial Crisis in Europe and Regime Uncertainty

In recent days, Europe has seen two governments fall: the Prime Ministers from Greece and Italy. New governments where formed. Besides these important changes, the financial markets did not calm […]

The Lenders of Hazard

The following passage in a note at The Economist points out to the well-known problem of moral hazard with lenders of last resort. But the moral hazard problem affects more […]

It is that easy to cook up new money?

The financial, and fiscal, crisis in Europe has brought doubt to the future of the Euro. Can it persist, or are we witnessing the end of the Euro? But, if […]

Checkmate?

The turmoils affecting the economics and financial markets in the United States and Europe do not seem to go away as fast as anyone would want to. Those who warned […]