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The Grumpy EconomistJohn Cochrane's blog
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The Grumpy Economist | johnhcochrane.blogspot.com Reviews
https://johnhcochrane.blogspot.com
John Cochrane's blog
The Grumpy Economist: Cancel currency?
https://johnhcochrane.blogspot.com/2014/12/get-rid-of-currency.html
Tuesday, December 30, 2014. Ken Rogoff has an interesting NBER Working paper " Costs and Benefits to Phasing Out Paper Currency. Ken would like to get rid of paper currency in favor of all electronic transactions. I'm a big fan of low-cost electronic transactions using interest-paying electronic money. But I'm not ready to give up cash. Ken has two basic points: The zero bound, and tax evasion / illegal economy. This has led to a number of creative proposals, which Ken summarizes. So, quiz question for y...
The Grumpy Economist: Should Greece Devalue?
https://johnhcochrane.blogspot.com/2012/01/should-greece-devalue.html
Thursday, January 5, 2012. Two weeks ago I wrote the following in a little Bloomberg column. This paragraph set off a little kerfuffle in the Cochrane-is-a-moron section of the blogosphere. I won't respond in detail, because I presume you're more interested in economics than what anyone thinks of anyone else's intelligence. Really everybody else, including new-Keynesians) basically say "Maybe, but smoking is a really bad lifestyle decision." We think of policies as rules, not decisions. So, sometimes dev...
The Grumpy Economist: A mean-variance benchmark
https://johnhcochrane.blogspot.com/2014/02/a-mean-variance-benchmark.html
Thursday, February 6, 2014. A mean-variance benchmark for intertemporal portfolio theory. 69:1-49 (Feburary 2014) DOI: 10.1111/jofi.12099 (ungated version here. After all these years, it is still a thrill when an article gets published, and this being a bit of a personal day on the blog (see last post. I can't resist sharing it. This paper started when John Campbell presented "Who should buy long-term bonds? I thought, "that's so obvious! And, simultaneously, kicking myself, "why didn't I think of that?
The Grumpy Economist: Unit roots in English and Pictures
https://johnhcochrane.blogspot.com/2015/04/unit-roots-in-english-and-pictures.html
Monday, April 27, 2015. Unit roots in English and Pictures. After my unit roots redux. Post, a few people have asked for a nontechnical explanation of what this is all about. Suppose there is an unexpected movement in any of the data we look at - inflation, unemployment, GDP, prices, etc. Now, how does this "shock" affect our best estimate of where this variable will be in the future? The graph shows three possibilities. This is very simplified. A few of the issues:. I hope this helps. Thanks, I had a ge...
The Grumpy Economist: McAndrews on negative nominal rates
https://johnhcochrane.blogspot.com/2015/05/mcandrews-on-negative-nominal-rates.html
Saturday, May 9, 2015. McAndrews on negative nominal rates. Jamie McAndrews of the New York Fed has a thoughtful and clear speech. On negative nominal rates and the benefits of currency. (Some previous posts on the subject here. A few high points:. 1 Needed: anonymous electronic transactions. Anonymity has value in many transactions. Anonymity equals finality. 2 Hysterisis of institutions and the lesson of the 70s. An even more far-reaching change that many have suggested would be the creation of a new i...
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Economics Blogs – Robert Kirkby
http://www.robertdkirkby.com/economics/econ-blogs
Macroeconomics (1st Year Undergraduate). Expectations, Bubbles, Crises and The Great Recession. I: GDP and Potential GDP. II: Changing Units (and multiple y-axes). V – Vintage Data and Forecast Updates. VI: Multiple Countries with a for-loop. VII: Stacking and Shading. Codes & Toolkits. Economics Research, mostly focused on Europe, but some general research. Focus on Spain (in Spanish; an English version exists for some posts). The Economist – Graphic Detail. Bob Solow articles on various topics.
Chicago y Macondo: La entrevista de anoche
http://chicagomacondo.blogspot.com/2013/02/la-entrevista-de-anoche.html
Intento contribuir al debate con lo que aprendo, incluyendo enseñanzas liberales de la mejor facultad de economía del mundo. Trataron de darnos un arma muy poderosa: "el poder de las ideas". Dadas la precariedad institucional, milenaria tradición mercantilista, verticalidad del Estado y práctica ausencia de rendición de cuentas, las políticas públicas en nuestro amado país son Macondianas. Es realista mágico lo que hacen algunos politiqueros, mercas y otras especies. Lunes, 25 de febrero de 2013. No en r...
Where is your hope and faith? | txfatherofseven
https://txfatherofseven.wordpress.com/2015/06/28/where-is-your-hope-and-faith
For you, brethren, have been called to liberty; only do not use liberty as an opportunity for the flesh, but through love serve one another. — Galatians 5:13. About me and what I’m doing here. When can we question Romans 13? Random updates →. Where is your hope and faith? June 28, 2015. Based on some of the conversations I’ve had with friends, I imagine that. In Romans chapter 1. No laws, no policeman, no threats of violence or wars or imprisonment are going to stop that. What’s even more perplexing ...
txfatherofseven | For you, brethren, have been called to liberty; only do not use liberty as an opportunity for the flesh, but through love serve one another. — Galatians 5:13 | Page 2
https://txfatherofseven.wordpress.com/page/2
For you, brethren, have been called to liberty; only do not use liberty as an opportunity for the flesh, but through love serve one another. — Galatians 5:13. About me and what I’m doing here. Newer posts →. Liberty Ends or Means? August 25, 2015. If you’ve ever had a moral debate with anyone, invariably the argument will come down to an idea of the Ends and the Means. The case is laid out something like this:. In one camp, the person has a final goal / utopia in mind. Because you know it’s a. When you a...
riski raisa putra
http://raisalogi.blogspot.com/p/awards.html
Investasi Global, Pasar Tenaga Kerja, dan Kesempatan Kerja di Indonesia. Tulisan ini adalah sebuah pidato yang akan dibawakan oleh Kemenko Perekonomian dalam rangka Pertemuan dengan LIPI dam Akatiga membahas m. Banggar di mata ekonom. Pembahasan anggaran di berbagai negara merupakan salah satu proses yang komplek. Kompleksitas tersebut terjadi karena banyaknya lembaga da. Pernah tidak kamu bertanya dalam hati, mana diriku? Atau lebih sederhananya pernah tidak sekelebat hadir pikrian di .
Kids Prefer Cheese: Democracy is Destiny, or Vice Versa?
http://mungowitzend.blogspot.com/2015/07/democracy-is-destiny-or-vice-versa.html
Credibly promising to be irresponsible.since 2004! Wednesday, July 29, 2015. Democracy is Destiny, or Vice Versa? Labour Markets and Political Change in Colonial British America. British Journal of Political Science. Nod to Kevin Lewis. Labels: a change is gonna come democracy. 8:45 AM, July 30, 2015. Subscribe to: Post Comments (Atom). Follow Us on Twitter! People, this is the most DC thing ever. From the Wall St. Journal comes the heart-rending story of the Maryland swim club that wouldn.
Kids Prefer Cheese: Why Mr. Overwater Invented the Internet....
http://mungowitzend.blogspot.com/2015/07/why-mr-overwater-invented-internet.html
Credibly promising to be irresponsible.since 2004! Thursday, July 23, 2015. Why Mr. Overwater Invented the Internet. So we can watch a guy inside a giant water balloon that explodes in slow motion. The balloon, not the guy. Subscribe to: Post Comments (Atom). Follow Us on Twitter! People, this is the most DC thing ever. From the Wall St. Journal comes the heart-rending story of the Maryland swim club that wouldn. Not a Caricature, Not the Onion. I often get criticized (yes, me! Follow up on the Nerdy Rant.
An Empirical Mean Reversion Test on VIX Futures | Alphaism
https://alphaism.wordpress.com/2015/09/09/an-empirical-mean-reversion-test-on-vix-futures
An Empirical Mean Reversion Test on VIX Futures. VIX mean reversion trade gets popular when the market experiences big ups and downs. You hear a lot of talks about how much money people make from trading VXX, XIV and their leveraged equivalents. However, is VIX truly mean reverting, or it seems more lucrative than it is just because people only like to talk about it when they make money and keep quiet when they lose? In this post I use daily returns of S&P 500 VIX Short-Term Futures Index. It’s har...
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The Grumpy Economist
Thursday, March 29, 2018. An oped on debt in the Washington Post. Growing debt and deficits are a danger. If interest rates rise, debt service will rise, and can provoke a crisis. Really the only solution is greater long-run economic growth and to reform - reform, not cut - entitlements. And the sooner the better, as the size and pain of the adjustment is much less if we do it now. A Debt Crisis is on the Horizon. We live in a time of extraordinary promise. Breakthroughs in artificial intelligence, 3...
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