Noah Smith on Austrian economics
I’m no fan of Austrian macroeconomics, but even I think Noah Smith is way too hard on Austrian economics in this post. Although he does...
Author : TheMoneyIllusion
Don’t waste time looking for Ratex alternatives
Noah Smith has a new post discussing the current fad of looking for alternatives to the rational expectations model. The motivation seems to be that...
Letter to the NYT, etc.
My posting will be relatively infrequent for the next couple of weeks. I just returned from DC, where I finally got a chance to meet...
Germany doesn’t benefit from a weak euro
The past week it’s been open season on Germany. Even I have occasionally bashed them for their views on monetary policy. In a way this...
The NSA is going to love this
I’ve been telling people that 1984 is coming, but no one seems to care. Here’s one more indication: Samsung SmartTV The Samsung SmartTV has a...
The wrong question
The Neo-Fisherian debate continues, and continues to miss the point. The debate is framed in terms of whether a higher interest rate causes higher inflation....
Lars Christensen on the euro disaster
Lars has a great new post on the euro disaster: The graph below shows the growth performance for these two groups of European countries in...
New York’s shamefully regressive property taxes
Work is finishing up on the tallest residential building in the Western hemisphere, 432 Park Ave. The penthouse apartments will go for around $100 million...
Independence Day for Greece!
Instant reactions to complex economic shocks are almost always wrong, but that’s never stopped me before. Much to my surprise, it has been reported that...
Don’t bet against the Danes
One of the important tenets of market monetarism is that countries with their own currency can can control their nominal exchange rate. This means there...