Why balance sheets are not in good shape

Financial Times (Comments page), 30th August 2007 One frequent claim used to calm fears in the recent market turmoil has been that “corporate balance sheets are in good shape”. Judging from the published accounts of companies the claim is justified;...

Severe Problems Looming for the Bank of Japan.

The Nikkei Financial Daily (Market Eye Column)., 29th May 2007 Central banks try to estimate whether the current level of output is below its equilibrium level. If it is, there is an “output gap” and inflation should not pose an imminent problem. The next question for...