Recently, Bloomberg published a Barry Eichengreen column headlined "Don't Sell the Euro Short. It's Here to Stay" . He writes: > Two forms of glue hold the euro together. First, th...
http://twentycentparadigms.blogspot.com/2017/02/relax-said-night-man.html
Over the weekend, Bloomberg reported : > As he prepared to sign orders designed to roll back bank regulations > enacted to stop the next financial crisis, President Donald ...
http://twentycentparadigms.blogspot.com/2017/02/dodd-frank-under-fire.html
The most troubling aspects of President Trump's immigration executive order are the moral and national security implications (the later is outside my area of expertise, but its hard to see how b...
http://twentycentparadigms.blogspot.com/2017/01/economic-implications-of-immigration.html
The UK pound plunged again earlier this month: two dates are marked with vertical lines: the the Brexit vote (red line) and the Prime Minister's speech signalling that the most likely outcome ...
http://twentycentparadigms.blogspot.com/2016/10/time-for-sterling-crisis.html
The eighth anniversary of the bankruptcy of the Lehman Brothers investment bank is coming up later this month. It marked a point where the financial crisis, which had been simmering since summe...
http://twentycentparadigms.blogspot.com/2016/09/revisiting-lehman.html
Being an academic economist can be humbling - while it involves learning lots of esoteric stuff, it also makes one much more aware of how much one doesn't know. But I know this much is true : t...
http://twentycentparadigms.blogspot.com/2016/07/lies-damned-lies-and-irelands-gdp.html
I've posted a draft of my research paper, "Hysteresis in a New Keynesian Model " on my website. The paper proposes a way of modelling hysteresis and integrates it into a New Keynesian macro mod...
http://twentycentparadigms.blogspot.com/2016/04/hysteresis-in-new-keynesian-model.html
As an economist, one of the biggest frustrations of discussions over climate policy is that we know pretty well what to do - tax carbon (or set up a system of tradable permits, which has similar ...
http://twentycentparadigms.blogspot.com/2016/03/carbon-taxes.html
I'm hoping I'll have a chance to read Robert Gordon's new book soon, though one of the ironies of being a college professor is that the job doesn't seem to leave much time to read. Fortunately...
http://twentycentparadigms.blogspot.com/2016/02/productivity-pessimism.html
Principles of Macroeconomics, that is, since it is under attack from Noah Smith, who argues for eliminating introductory macroeconomics classes. In a blog post, he writes : > Why should und...
http://twentycentparadigms.blogspot.com/2015/12/fight-for-our-principles.html
In the Washington Post last week, Larry Summers wrote about some new research finding evidence of "hysteresis." This is a term borrowed from the natural sciences for when temporary occurrences...
http://twentycentparadigms.blogspot.com/2015/11/hysteresis-and-monetary-policy.html
Among the steps the Fed has taken to increase transparency in recent years is the release of projections by the board members and regional bank presidents. This includes the "dot plot" indicati...
http://twentycentparadigms.blogspot.com/2015/09/one-of-these-things-is-not-like-others.html
There is an an excellent piece by Dani Rodrik on economic methodology at Project Syndicate: > Economics is not the kind of science in which there could ever be > one true model�...
http://twentycentparadigms.blogspot.com/2015/09/rodrik-on-economic-models.html
Fed watchers are speculating that the FOMC meeting later this month might be the occasion to raise the federal funds rate target off the "zero lower bound," where it has been since December 2008....
http://twentycentparadigms.blogspot.com/2015/09/a-note-on-credibility.html
Last month, just before China let its currency deprecate and its stock market crashed, the San Francisco Fed published a nice Economic Letter by Zheng Liu, "Is China's Growth Miracle Over? " Ch...
http://twentycentparadigms.blogspot.com/2015/09/china-and-solow-model.html
and it helps you learn how to think.... One of the challenges in teaching economics is that many come to it with incorrect expectations - people seem to view it as akin to accounting or financ...
http://twentycentparadigms.blogspot.com/2015/08/economics-is-more-than-you-think.html
Last week, China moved to allow more flexibility in its exchange rate. In this case, that meant a downward movement - headlines about a "devaluation" were rather overstated, though, as the depr...
http://twentycentparadigms.blogspot.com/2015/08/opportunistic-flexibility.html
Ian Parker's recent New Yorker profile of Yanis Varoufakis included this nugget: "He has written of his hope, as a professor, to present economics as 'a contested terrain on which armies of idea...
http://twentycentparadigms.blogspot.com/2015/08/stories-from-macro-wars.html
One of the pleasures of teaching is the opportunity to re-read the articles I assign to my students; one particular favorite that I look forward to each semester is Keynes' essay "Economic Possib...
http://twentycentparadigms.blogspot.com/2015/08/npr-visits-keynes-sisters-grandchildren.html
One for the footnotes: Timothy Taylor has tracked down the origin of the "pushing on a string" metaphor for expansionary monetary policy in a depressed economy. It looks like we owe it to Mary...
http://twentycentparadigms.blogspot.com/2015/07/pushing-on-string.html
The BEA released the advance estimate of second quarter GDP growth today: the good news is that US output grew at a 2.3% annual rate in the period - a healthy, though unspectacular, pace. The ...
An archive of British Movietone newsreels has been added to YouTube, including one of John Maynard Keynes commenting on Britain's departure from the gold standard in 1931: Another newsreel discu...
http://twentycentparadigms.blogspot.com/2015/07/professor-keynes-is-optimistic.html
It looks as though Greece is staying in the euro, after all (for now at least...). The terms of the deal - pending approval by the Greek parliament - are not very favorable to Greece. Essent...
http://twentycentparadigms.blogspot.com/2015/07/greek-tragedy-european-farce.html
The "no" vote in its referendum last Sunday seems to have accelerated the momentum towards a Greek exit for the euro. While there is plenty of room to second-guess the negotiating strategy, I t...
http://twentycentparadigms.blogspot.com/2015/07/europes-final-countdown-to-grexit.html
perhaps Greece should be printing some notes this weekend... Recently, Christian Odendahl had a sensible take on what should be done in Greece, but reasonable advice from economists is being o...
http://twentycentparadigms.blogspot.com/2015/06/more-greek-notes.html