The most interesting speakers at Jackson Hole didn’t include Ben Bernanke. The two papers I’ll be reading this weekend will be Woodford’s much talked about speech as well as Andrew Haldane’s. If readers have any thoughts on the papers I’d love to hear them. The papers are both fairly wonkish so they might make for superb bedtime reading, ie, falling asleep material. I’ve also attached a rather disturbing study by the SEC regarding the financial literacy of the general public. The results aren’t pretty….”U.S. retail investors lack basic financial literacy … have a weak grasp of elementary financial concepts and lack critical knowledge of ways to avoid investment fraud.” Wow.
- The Dog and the Frisbee, Paper by Andrew G Haldane, Executive Director, Financial Stability and member of the Financial Policy Committee and Vasileios Madouros, Economist, Bank of England.
- Methods of Policy Accommodation at the Interest-Rate Lower Bound, Michael Woodford, Columbia University