Wednesday, January 21, 2015

Why the ECB Should Take More Risks

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Mrs. Merkel and Mr. Schäuble are worried . The ECB is planning to buy the sovereign debt of its member states and Mr. Schäuble doesn't t...
11 comments:
Tuesday, January 13, 2015

Financial crises as global sunspots

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I have just written a new working paper, 'Global Sunspots and Asset Prices in a Monetary Model', that is available on the NBER webs...
7 comments:
Thursday, January 1, 2015

Secular stagnation: a neo-paleo-Keynesian perspective

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I first posted this piece back in January but it got deleted by from my blog by mistake. Since secular stagnation is back in the blogosphe...
30 comments:
Sunday, December 28, 2014

The Greek dance with debt

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If you thought that the Greek debt crisis was over; think again. Tomorrow, the Greek parliament will try, for the third time, to agree on w...
19 comments:
Saturday, December 13, 2014

Real business cycle theory and the high school Olympics

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I have lost count of the number of times I have heard students and faculty repeat the idea in seminars, that “all models are wrong”. This ap...
31 comments:
Thursday, December 11, 2014

John, Paul and Say's Law

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I've followed, with a great deal of interest, the debate between John Cochrane and Paul Krugman . I have a lot in common with both of t...
9 comments:
Saturday, December 6, 2014

Risk and Return in the Bond Markets

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This is the second post to advertise the work of a UCLA graduate student who is looking for a job this year. My first post introduced San...