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macromarketmusings.blogspot.com

Macro and Other Market Musings: Secular Stagnation: Missing the Forest for the Trees

http://macromarketmusings.blogspot.com/2014/08/secular-stagnation-missing-forest-for.html

Macro and Other Market Musings. Friday, August 15, 2014. Secular Stagnation: Missing the Forest for the Trees. There is a new VoxEU ebook. On secular stagnation. The book is a collection of essays by many prominent economists, most of whom are proponents of secular stagnation. As readers know, I am not convinced that this problem lingers over the U.S. economy and have explained why at the Washington Post. And on this blog. Subtracting expected inflation from the observed nominal interest rate. They a...

marginalrevolution.com

Who is the most influential public intellectual of the last twenty-five years? - Marginal REVOLUTION

http://marginalrevolution.com/marginalrevolution/2013/06/who-is-the-most-influential-public-intellectual-of-the-last-twenty-five-years.html

Who is the most influential public intellectual of the last twenty-five years? On June 27, 2013 at 5:07 pm. A while ago I asked a related question. But my answer blew it on one major possibility. Doesn’t Andrew Sullivan have a reasonably strong claim to that title, especially after the recent Supreme Court decisions on gay marriage? Here is a current map of where gay marriage is legal. And very likely there is more to come. Pre-Sullivan, I would give the honors to Milton Friedman. June 27, 2013 at 5:10 pm.

macromarketmusings.blogspot.com

Macro and Other Market Musings: The Penske View of Macroeconomic Policy

http://macromarketmusings.blogspot.com/2015/06/the-penske-view-of-macroeconomic-policy.html

Macro and Other Market Musings. Tuesday, June 23, 2015. The Penske View of Macroeconomic Policy. There are a lot of similarities between this experience and the use of macroeconomic policy over the past seven years. The U.S. economy, like the truck, has been operating well below its potential. This has meant reaching the final destination of full employment has taken far longer than anyone expected. So what is this governor? As seen below, this inflation surge would last just over two years. The Penske t...

macromarketmusings.blogspot.com

Macro and Other Market Musings: The Federal Reserve's Dirty Little Secret

http://macromarketmusings.blogspot.com/2014/12/the-federal-reserves-dirty-little-secret.html

Macro and Other Market Musings. Monday, December 22, 2014. The Federal Reserve's Dirty Little Secret. To answer this question, we need to review two underappreciated facts about the Fed's quantitative easing (QE) programs. The first underappreciated fact is that the large expansion of the monetary base under QE is temporary. The Fed issued exit strategy plans in its June, 2011. And September, 2014. The Committee intends to reduce the Federal Reserve’s securities holdings in a gradual and predictabl...

noahpinionblog.blogspot.com

Noahpinion: Demand in the gaps?

http://noahpinionblog.blogspot.com/2014/07/demand-in-gaps.html

Economics, neologisms, and distraction from productive activity. Sunday, July 13, 2014. Demand in the gaps? In a very good post. By Mike Elsby and Matt Shapiro, which tries to model the fact that people get experience when they work. That is probably what Kartik Athreya meant when he wrote that "search models aren't really about search.". So search models still haven't fully explained employment patterns. What mental model of unemployment should we have in the meantime? Or a short-run Phillips Curve.

benl8.blogspot.com

Economics Without Greed : August 2013

http://benl8.blogspot.com/2013_08_01_archive.html

Essays on inequality and sustainable economics. Saturday, August 10, 2013. A Prescription for a Sick Economy - - In Brief. On October 1, 2013, I wrote and sent a letter about Obamacare to the local newspaper who never published it, and now I have put it at the bottom of this essay. Look for the photo of medical care to a youngster. The more important message is this "Prescription" essay which I leave at the top. Also, you might consider reading Robert Kuttner recent article at the American Prospect.

noahpinionblog.blogspot.com

Noahpinion: The Neo-Fisherite Rebellion

http://noahpinionblog.blogspot.com/2014/04/the-neo-fisherite-rebellion.html

Economics, neologisms, and distraction from productive activity. Wednesday, April 23, 2014. First, the basic idea. The Fisher Relation says that nominal interest rates are the sum of real interest rates and inflation:. The opening shot of the Neo-Fisherite rebellion. Was fired by Minneapolis Fed President Narayana Kocherlakota, in a speech in 2010:. To sum up, over the long run, a low fed funds rate must lead to consistent—but low—levels of deflation. This sparked a furious backlash in the blogs (see here.