Creative Destruction

Trump's firing of James Comey has been compared to Nixon's Saturday Night Massacre. Here's the difference: Nixon new he had committed a crime and was desperately trying to cover it up. Trump does...

http://gecon.blogspot.com/2017/05/the-tuesday-night-massacre.html

Yesterday (July 27), the Federal Open Market Committee met and decided to maintain the target for the federal funds rate at 1/4 to 1/2 percent. Here are some thoughts to help make sense of the Fe...

http://gecon.blogspot.com/2016/07/how-to-think-about-feds-monetary-policy.html

Health reform (John Boehner ) Same-sex marriage (David Vitter ) The homosexual lifestyle (Dave Agema ) Soccer (“Mike ") Amnesty (Ted Cruz ) Trans-Pacific Trade Partnership (Alex Jon...

http://gecon.blogspot.com/2015/12/things-liberals-shove-down-our-throats.html

There were a lot of questions about monetary policy in Tuesday's Republican debate. None of the candidates seemed to be happy with the Federal Reserve's efforts to stimulate growth. Several expli...

http://gecon.blogspot.com/2015/11/monetary-policy-in-republican-debate.html

I've been discussing the new institutional features of the federal funds market in my classes for a couple of years now. Here's an article in the Journal of Economic Perspectives that covers thi...

http://gecon.blogspot.com/2015/11/two-interesting-articles-on-feds.html

In December 2008 the Federal Reserve reduced its target for the federal funds rate, its main policy tool, to a range of zero to 0.25 percent. In doing so, says the conventional analysis, the Fed ...

http://gecon.blogspot.com/2015/11/views-on-negative-interest-rates.html

The press release following the Federal Open Market Committee meeting on Wednesday is considerably more hawkish than September's statement, strongly suggesting that the Fed will begin raising int...

http://gecon.blogspot.com/2015/10/my-thats-hawkish-statement.html

There are two interesting pieces in the Financial Times, behind a paywall unfortunately so I'll summarize them. Sam Fleming, "Big tent proves too small for US Federal Reserve" : There's a divide...

http://gecon.blogspot.com/2015/10/today-in-economic-news-and-analysis.html

How much does dollar appreciation affect GDP growth? A study by the New York Federal Reserve concludes: "Our analysis shows that a 10 percent appreciation in one quarter shaves 0.5 percentag...

http://gecon.blogspot.com/2015/10/articles-for-10-9-15.html

The New York Times reports that the IMF has been raising warning flags for the last year that emerging market economies are vulnerable. In other news, a new study by JP Morgan Chase finds tha...

http://gecon.blogspot.com/2015/10/is-there-bubble-in-emerging-markets.html

Bloomberg has the complete economic calendar for this week. Here are some of the most important ones: Personal income and outlays Consumer confidence ADP employment report Chicago PMI ...

http://gecon.blogspot.com/2015/09/economic-releases-this-week.html

That's the headline for this article from the Financial Times (sorry, it's behind a paywall). The story is that big US banks, which have been hoarding funds in short-term securities in anticipat...

http://gecon.blogspot.com/2015/09/big-us-banks-lose-patience-with-fed.html

The article is here . Our Fed Challenge team made a proposal similar to this in 2014, tailored more specifically to the then current economic conditions. Specifically, we proposed that the Federa...

http://gecon.blogspot.com/2015/09/the-economist-calls-for-nominal-gdp.html

The Economist , Japan returns to deflation Bloomberg , The Fed should target CPI, not PCE New York Times , Yellen says Fed is likely to raise interest rates this year Bloomberg , Markets don't...

http://gecon.blogspot.com/2015/09/more-readings-september-25.html

Paul Krugman on Willem Buiter FRB Atlanta , a new measure of slack in the labor market Bauer and McCarthy at the FRB San Francisco : market-based forecasts of inflation do a poor job of predic...

http://gecon.blogspot.com/2015/09/worthwhile-readings-for-923.html

Tim Duy: Bottom Line: Fed policy increasingly reflects the view that the productivity growth slowdown is real. We see it in falling estimates of potential GDP growth, falling expectations for ...

http://gecon.blogspot.com/2015/09/productivity-growth-and-interest-rates.html

Planet Money , September 10 Also: China's Forex Reserves Fall by Record $93.9 Billion on Yuan Intervention Wei, Lingling and Trivedi, Anjani, Wall Street Journal (Online), September 7 Chin...

http://gecon.blogspot.com/2015/09/whats-happening-in-china.html

Tim Duy, Bloomberg, Why the Fed is Likely to Stand Pat This Week Jeff Lacker, FRB Richmond, The Case Against Further Delay Jan Hatzius, Goldman Sachs (video ) One might reasonably ask why...

http://gecon.blogspot.com/2015/09/more-views-on-possibility-of-rate-hike.html

From Paul Krugman : > Attacks on Keynesians in general, and on me in particular > , rely > heavily on an army of straw men — on knocking down claims about > what peo...

http://gecon.blogspot.com/2015/09/what-is-keynesian-economics.html

China Economic Watch

http://gecon.blogspot.com/2015/09/analysis-of-chinas-economy.html

Tim Mullaney, MarketWatch Larry Summers on CNBC Tyler Cowen , Marginal Revolution William Cohan , New York Times Andrew Levin , VOX Editorial , Los Angeles Times

http://gecon.blogspot.com/2015/09/should-fed-raise-rates-next-week-some.html

Wall Street Journal, 5 Things to Watch .

http://gecon.blogspot.com/2015/09/economic-reports-for-week-of-914-18.html

Robert Solow, "Economic History and Economics ," 1985 Kevin O'Rourke, "Why Economics Needs Economic History ," 2013 Carolina Journal, "Friday Interview: The Importance of Economic History ," ...

http://gecon.blogspot.com/2015/08/some-readings-on-role-of-economic.html

The other day while taking a stroll in the neighborhood I ran into a neighbor of mine - from somewhere in the south I think, judging from his dress and accent. I greeted him in the usual way: I s...

http://gecon.blogspot.com/2015/06/just-proud-of-my-heritage.html

I know you're hurting now. The last week has been a tough one for conservatives: there's a stampede to take Confederate flags down from public places, Obamacare survives its last serious legal ch...

http://gecon.blogspot.com/2015/06/dear-conservatives-relax-everything.html