Neo-Fisherism in a world of multiple policy tools
Nick Rowe has another post criticizing the Neo-Fisherian claim that pegging nominal interest rates at a high level would raise inflation to a higher level....
Author : TheMoneyIllusion
That’s outrageous!
I’ve read both sides of the debate over the recent actions by Obama on illegal immigration. And I can’t decide who’s right. Was it a...
At the other extreme . . .
A quick follow up to my previous post. Australia has seen 3% RGDP growth over the past 12 months, and 2.7% the year before, and...
The USA doesn’t have any debatable recessions. That’s about to change
The US has a really weird economy. All our recessions are 100% clear-cut. Either we have a recession or we don’t. Normal countries have borderline...
Is Japan in recession?
The media says yes. I say if Japan is in recession it’s time to redefine the term. Here is the Japanese unemployment rate over the...
Other things equal, lower prices cause consumers to buy less of a good
I still see confusion about the never reason from a price change concept. So let’s try again, looking to see whether “other things equal” helps....
In economics, price changes don’t have any effect, they are effects
I don’t know how many times I have to keep saying this before the rest of the profession figures it out. Never reason from a...
Did the monetary policy environment change in 2011?
Lots of people have pointed me to an article on the zero bound by Eric Swanson: According to traditional macroeconomic thinking, once monetary policy hits...
Nevermind
In a recent post I discussed the astounding 31 point gender gap between men and women on the marijuana legalization question. Chris Ingraham left this...