Nicolas Véron

Financial Statements: Zombie Lessons from Japan for the COVID-19 Era

Today I hosted Takeo Hoshi (University of Tokyo) and Takeshi Tashiro (METI and PIIE) for the latest session of Financial Statements, in which we discussed the dynamics of corporate indebtedness and the risk of "zombification" in Japan and elsewhere. 

A Memo to the Financial Services Commissioner

As part of the Peterson Institute series on Rebuilding the Global Economy, I wrote a memo intended for the European Commissioner for Financial Services (or as the full titulature has it: Financial Stability, Financial Services and Capital Markets Union) - now Mairead McGuinness, who recently took over that portfolio from Valdis Dombrovskis. 

My memo focuses on international and global aspects, and is thus complementary to the one I wrote last year for Mr Dombrovskis as part of a separate Bruegel project. I presented the highlights at a PIIE web event earlier today, moderated by Adam Posen and also featuring my colleagues Jean Pisani-Ferry, Robert Lawrence, Jacob Kirkegaard and Reinhilde Veugelers. 

Download the memo here in case the above link is broken. 

Update (January 20): the memo was also republished by Bruegel.  

Financial Statements: the Financial Sector's Value for Money

In this week's Financial Statements, I hosted Thomas Philippon (NYU Stern) and Aaron Byrne (EY Parthenon) to discuss whether the financial industry is better serving the economy and society than in the past, especially with the impact of new technology. Philippon's pioneering research on this theme supports a cautiously optimistic answer. 

Financial Statements: Big Tech in Chinese Finance

For the latest session of Financial Statements a week ago (November 24), I hosted Huang Yiping of Peking University and my PIIE colleague Martin Chorzempa, to discuss the emergence of big tech companies as major players in the Chinese financial sector.