Give that man the Bastiat Award!
Here’s the sort of thing we teach our students in basic economics: A fable by James Ingram also illustrates that free international trade is production...
Author : TheMoneyIllusion
Students need to be taught monetarism first, then Keynesianism
Greg Ip seems to have a pretty low regard for monetarists: But in the real world, the Fed sets a fixed interest rate and lets...
Give War a Chance
Let’s hope Barry Eichengreen doesn’t see this Yahoo article: Japan has set the stage for a potential global currency war, announcing plans to create money...
Reserves are old-fashioned; currency is right up to date.
Pretend this post was written in July 2008; later I’ll discuss the most recent 4 1/2 years. I notice that some commenters think there is...
Currency matters, even with IOR
Today I’m going to be defending Paul Krugman , who claims that the quantity of money does matter when interest rates are positive. Steve...
Japan: More Questions Than Answers
Paul Krugman has done a series of posts suggesting that recent policy announcements in Japan may have led to dramatically higher inflation expectations, and much...
How to say “East Asian countries” in 27 words
Via Tyler Cowen , here’s Barry Eichengreen, Donghyun Park, and Kwanho Shin: We analyze...e incidence and correlates of growth slowdowns in fast-growing middle-income countries, extending...e...
Abe’s first mistake
I can’t say this...as unexpected , as Abe indicated he’d do this during the campaign: Japan’s $117 billion economic stimulus package is a positive start...
How Do New Keynesians Define the Stance of Monetary Policy?
When I started blogging I kept claiming that the steep recession of 2008-09 was caused by ultra-tight Fed policy. I had the distinct impression that...
Pleasantly Plump? Or, What if Beauty is Not Truth?
As a libertarian, I’d prefer it were the case that we’d be better off with a government that did not regulate the environment, force people...