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Brad Delong links to a number of interesting papers regarding the US/global financial crisis of 2007-2009. I recommend the optional ones. I’m not sure I completely agree that the bailing out of Bear Stearns made matters worse – but it was an interesting perspective. In any case, its a good idea to try and understand […]
Institutional Economics has some good points on the boost to Australia’s terms of trade – points we can keep in mind over here. Relative to what we pay for our imports, Australia now gets higher prices for its exports than at any time since at least 1870. This was illustrated by Reserve Bank Governor Glenn […]
Over at Money Illusion Scott Sumner states: The recent Swiss devaluation has led to some interesting reactions in the blogosphere. But one angle that I haven’t seen discussed is the relationship of the Swiss action and bubble theory. Within an hour or two of the announcement we had said (in additional to the straight avoiding […]
Via Anti Dismal, there is a post discussing regime uncertainty and recessions – and criticising some of the world’s Keynesian bloggers for ignoring the role of uncertainty. Now I think the real options argument that uncertainty reduces activity is undeniable, but I also don’t think that any economist – Keynesian or not – disagrees with […]
I am constantly criticised for not putting out conclusions for policy. So I thought with an election coming up, I’d put down my personal election platform … this should make obvious why no-one would vote for me, not even my mother 😉
In so far as we believe monetary policy in most countries is “too tight” there could be a significant upside to the Swiss decision to set a minimum value on their Euro change rate – if currency intervention is copied by most other countries it will lead to a loosening in monetary conditions. Scott Sumner […]