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Most recent posts

  • Taper Paradox

    posted to Employment, Interest, and Money on Fri 5th Jul 13

    Suppose you get invited to a party.  You dont expect it to be a very good party, because the mood in town is pretty bleak:  most people likely wont even show up, and those that do wont be much fun.  So you decide, Unless I hear something good

  • Why Doves Are Really Hawks

    posted to Employment, Interest, and Money on Wed 13th Feb 13

    Machismo is a type of commitment mechanism.  If youre a perfectly rational nerd, people will always expect you to do the rational thing.  You wont be able to make credible threats unless it would be rational to carry out the threat.  And it seldom

  • Inflation vs. Price Level Targeting

    posted to Employment, Interest, and Money on Wed 9th Jan 13

    I dont have time for a real blog post, but heres a quickie in an attempt to keep this blog alive.Dave Altig and Mike Bryan of the Atlanta Feds Macroblog argue here that it wouldnt make much difference if the Fed were doing price level targeting (in which the

Most popular posts

  • Do Umbrellas Cause Rain?

    posted to Employment, Interest, and Money on Tue 24th Aug 10

    In a recent speech Minneapolis Fed President Narayana Kocherlakota argues that low interest rates could ultimately be dangerous in that they could lead to deflation. His argument seems bizarre to me. Ill go through it piece by piece.The fed funds rate is roughly

  • The Mankiw Rule with Quantitative Easing: Why is the Fed So Tight?

    posted to Employment, Interest, and Money on Thu 10th Jun 10

    In my last post, I suggested that the Fed at least if it behaves in a reasonable manner consistent with its past practices is not likely to raise its federal funds rate target any time soon. I argued that the Mankiw Rule (a.k.a. Greg Mankiws version of the

  • The Treasurys Monetary Policy

    posted to Employment, Interest, and Money on Wed 16th Dec 09

    For decades, many economists have argued that the effectiveness of fiscal policy is limited because public borrowing crowds out private investment. There are several versions of the crowding out story. One version goes something like this: There is a certain

Latest posts linking here

  • Assorted links

    posted to Marginal Revolution on Fri 12th Jul 13

    1. With so few farmers, why are farm subsidies so popular? It’s not such a simple question.2. New York is getting noisier.3. Andy Harless on the taper paradox.4. Zimbabwe is still capable of shocking us.5. Somalia’s friendly skies.6. Are these the

  • Assorted links

    posted to Marginal Revolution on Fri 12th Jul 13

    1. With so few farmers, why are farm subsidies so popular? It’s not such a simple question.2. New York is getting noisier.3. Andy Harless on the taper paradox.4. Zimbabwe is still capable of shocking us.5. Somalia’s friendly skies.6. Are these the

  • Links for 07-06-2013

    posted to Economist's View on Sat 6th Jul 13

    On The Political Economy Of Permanent Stagnation - Paul KrugmanThe Lagging Public Sector - NYTimes.comHow Competitive Is China? - EconbrowserYes, the Sequester Is Affecting the Job Market - NYTimes.comA Surge in Part-Time Workers - NYTimes.comTaper Paradox