The Money Confusion
I believe there’s a popular line in Hollywood that “nobody knows anything,” meaning that it’s really hard to predict which films will do well. When...
Author : TheMoneyIllusion
Apocalypse delayed, once again.
Time for my annual post pointing out that the China bears were wrong once again. Chinese growth is picking up again, headed for about 8%...
DeLong on the Fiscal Multiplier
For the past 4 years I’ve been arguing that we should generally assume a zero fiscal multiplier, except under very unusual circumstances. Brad DeLong makes...
What’s up with physics?
Although I’m reasonably smart, I don’t have a high enough IQ to understand things like quantum mechanics. At least I didn’t until I came across...
Paul Krugman and Pico Iyer on Japan
A few years ago I started to push the view that most economists had misinterpreted the Japanese liquidity trap. The BOJ had not tried valiantly...
Niklas Blanchard is Now Blogging
Niklas Blanchard was an early supporter of market monetarist ideas, but then stepped away from blogging. I’m happy to report that he’s back with an...
Does John Taylor want easier money or tighter money?
Here’s John Taylor in today’s Wall Street Journa l : As they meet this week, Federal Reserve Chairman Ben Bernanke and his colleagues will be...
The Vikings Defeat Britain . . . Again.
A few years back I got a lot of grief from commenters who contested my claim that it was not clear whether Iceland was obligated...
The game of musical chairs, continued.
You don’t need DSGE models to understand business cycles, it’s basically just a game of musical chairs. Nominal wages are very sticky and NGDP is...
Jail for thee, but not for me.
Here’s an article from Reason magazine : Some 18 states permit medical use of marijuana, and in November, Colorado and Washington voted to allow recreational...