John Cochrane's blog has always been a favorite of mine. It's provocative. It's entertaining. And it invariably leads me to refl...
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Showing posts with label MacroMania update. Show all posts
Showing posts with label MacroMania update. Show all posts

Some Thoughts on the Fed's CBDC Report
Economists within the Federal Reserve System have been musing about central bank digital currency for a while now. For example, yours truly ...
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The Inflation Blame Game
Inflation is back together with a new season of finger-pointing. I see some pundits wanting to blame the 2021 inflation on workers. Workers ...
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Run-Proof Stablecoins
A stablecoin (SC) is a financial structure that attempts to peg the value of its liabilities (or a tranched subset of its liabilities) to an...
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Labor Force Participation Gaps Between the U.S. and Canada
Am hearing some talk about whether the U.S. labor market can fully recover to its pre-Covid19 levels. Is it possible that a sizeable number ...
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A Natural Rate of Interest
This post was motivated by a conversation with Eric Lonergan. It began with a simple question: what should be the interest rate paid on rese...
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Is it time for some unpleasant monetarist arithmetic?
The title of this post alludes to a paper written by Tom Sargent and Neil Wallace 40 years ago " Some Unpleasant Monetarist Arithmetic ...
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A Journey in Macroeconomic Thinking
I've been thinking a bit lately about theories of the business cycle (a lot of time for reflection in these days of COVID-19). At least,...
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Cochrane on debt II
Yesterday, I posted a reply to John Cochrane's Sept 4 post on the national debt. John alerted me to his Sept 6 update, which I somehow...
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Cochrane on why debt matters
The stock of national debt is now larger than our annual national income in the United States. Is this something to worry about? Does it ...
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The Fed's new monetary policy framework
The Fed's much-anticipated new monetary policy framework is now public. Fed Chairman Jerome Powell outlined the policy framework last we...
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