Does Boskin Really Have a 100% Consistent Record in Predictions?
This comment from Noah Smith caught my attention: But even in the case of experts, I think you need to be very, very confident in...
Author : TheMoneyIllusion
Blanchard and Leigh on the fiscal multiplier
Each year I look at the AER Papers and Proceedings, which comes out in May. It...rovides short summaries of much of the most important research...
How’s the Economy Been Doing Over the Past 6 Months?
Studies show that GDI is a better measure of GDP than GDP itself. In most cases the gap between the two is relatively small. But...
Market monetarism in the news
Here’s Ramesh Ponnuru at Bloomberg.com: To return to reality for a moment: The Fed isn’t hitting its 2 percent inflation target now, let alone coming...
The Fed’s Targeting Inflation at 1%; It Just Doesn’t Know it Yet
It’s odd, but the best way to forecast price inflation is to look at wage inflation. In the years leading up to the Lehman crisis...
Bullard channels Lars Svensson
So I go to a monetary conference in Italy for a few days and everything falls apart. Actually that’s an exaggeration–if we think in terms...
John Cochrane on Finance
John Cochrane has an excellent article in the Journal of Economic Perspectives, discussing a wide range of finance problems. Here’s a small sample: The period...
Exit Is Easy
David Price sent me an interesting article that he wrote for the Richmond Fed. This caught my eye: If banks believe that they can earn...
Should Japan Aim for 2% Inflation?
The BoJ disappointed investors by failing to offer further stimulus. The yen soared in value. No surprise there. And Japanese stocks fell sharply–no surprise there....
Vaidas Urba on Competitive Central Banking
I had a delightful lunch the other day with Vaidas Urba, a NGDP targeting supporter from Lithuania. Lars Christensen once let him do a post,...