Michael Pettis

Monetary Policy Under Financial Repression

Monetary Policy Under Financial Repression is a great blog post by Michael Pettis, in which he explains the nature of financial repression (although I believe there are different interpretations/definitions) and puts it into historical context. Financial repression is one of the tools that generated enormous GDP growth in China in the past decades, similarly though […]

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Macro Hedges for Sovereign States

One of the more interesting things I have recently learned from Michael Pettis is the idea of entire countries hedging their economic fortunes. He has also discussed this in one of his books The Volatility Machine, but I haven’t yet come to read it. The basic framework, which is also discussed here, is that economic […]

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