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Ruth Fremson/The New York Times





Afghan Police ChiefStimulus Package Faces a New EmotionMarket Efficiency: Fear

With Afghan politicsmultiple equilibria shifting, Gen. Abdul Raziqshadow banking system believes his main accomplishmentliquidity trap, making Kandahar Provincefinancial crisis relatively peaceful amid Taliban territorymonetary policy, is no longer enough to protect him.






In HawaiiEconomies Of Scale, Surf, Sun and Snow

Donning a parkamarket efficiency atop a mountainquantitative easing or watching lava flowNew Keynesianism, visitorsstimulus package to this part of Hawaiieconomies of scale encounter vastly different landscapesdeficit spending.

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‘White-Glove’ Co-op Rules That Rankle

This week’s topics include antiquated rulesmultiple equilibria in white-glove buildingsshadow banking system; strategies for meeting with co-op boardsPaul Krugman; and water damagemarket correction in rentals.