Wednesday, September 23, 2015

Beliefs are Fundamental: Whatever your Religion

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A couple of weeks ago, I had the pleasure of attending a very interesting conference at the Federal Reserve Bank of Saint Louis. The topic ...
Thursday, September 17, 2015

Washington: We have a problem

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John Cochrane makes the case in the WSJ that everything is back to normal. Hunky Dory, rosy tinted, don’t panic, keep-calm-and-carry-on n...
8 comments:
Saturday, August 29, 2015

Not too simple: Just wrong

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Simon Wren-Lewis has a nice post discussing Paul Romer’s critique of macro. In Simon's words: "It is hard to get academic ma...
4 comments:
Monday, August 24, 2015

The Next Great Depression

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The financial markets are in turmoil . We are dangerously close to the next financial crisis.   The FTSE in the UK is down by 13% from its ...
41 comments:
Sunday, August 23, 2015

Animal Spirits and the Two Natural Rates

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In my last post I pointed out that it is not enough for monetary policy to guide the economy back to the natural rate of interest. Cent...
4 comments:
Saturday, August 22, 2015

A Tale of Two Natural Rates

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Narayana Kocherlakota makes the case for more public debt. Paul Krugman and Steve Williamson agree. (I have to keep rereading that sente...
3 comments:
Friday, August 14, 2015

Somebody at the PBC blinked

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In a recent post I made this comment about China’s decision to intervene in its own stock market. China is holding more than $1.2 trilli...