Dornbusch overshooting in Japan
Facebook Twitter LinkedIn In Rudi Dornbusch’s exchange rate model, a tight money policy causes a currency to appreciate sharply, overshooting its long run equilibrium value....
Author : TheMoneyIllusion
Feminism and the perils of blogging
Facebook Twitter LinkedIn The internet doesn’t do nuance. Early on in my blogging career, I discovered that many people are poor readers. And they tend...
Not a workaholic, but persistent
I retired today. I’d like to thank the people at Mercatus, which has been by far the best job I ever had. Special thanks to...
It’s services, i.e., it’s NGDP, i.e., it’s monetary policy
So what’s the problem with inflation? John Authers and David Beckworth directed me to the following graph, which shows that the most recent upswing is...
The most important issues
It’s been awhile since I sat down and tried to figure out the issues that I care about most. Off the top of my head,...
Powell and I explain our policies to Joe Sixpack
Facebook Twitter LinkedIn WSLee recently commented as follows: Scott, aside from the European issues on this post, last night Jerome Powell briefly denounced NGDP targeting...
The Eurozone black box
Facebook Twitter LinkedIn I find it difficult to get data on the eurozone. The second quarter NGDP data didn’t even show up until a couple...
Britain’s Silver Age (RIP Queen Elizabeth II)
Facebook Twitter LinkedIn Queen Victoria presided over Britain’s Golden Age (1837-1901). Many people view the post-WWII period as one of decline for Great Britain, with...
Farewell to the farewell
Facebook Twitter LinkedIn I often criticize Donald Trump, but he actually gave a decent farewell address when leaving office. Not up there with Washington’s masterpiece,...
Will I live long enough to see the moon landing?
Facebook Twitter LinkedIn A recent issue of the FT caught my eye. It discussed long delays in NASA’s moon landing program, and doubt about the...