Someone sent me an email this evening with some details on the Paul Krugman response to James Montier which I discussed here. I had previously stated that the Krugman response [ … ]
Category: Macro Perspectives
James Montier Rightly Dismisses the Natural Rate of Interest
Warning – This post is extremely nerdy and could result in extreme sleepiness. Do not try to read this post while operating heavy machinery. The consumption of alcohol before, after or during a reading [ … ]
What if There Are no Reliable Factors?
I’ve always been bothered by the notion of “factor investing”. In case you don’t know, factor investing is derived from Eugene Fama’s various factor models (which have expanded over time [ … ]
Which is it Paul: Natural Rate or Not? (Nerdy)
This will only interest the super nerds in the audience, but Roger Farmer has a great post up in which he discusses the idea of multiple equilibria in the economy [ … ]
Mainstream Economics is Flawed & That’s Fine
David Andolfatto and Mark Thoma have written extensive posts defending mainstream economics against its critics (see here and here). These are two very very smart economists who make many salient [ … ]
Can a Sovereign Currency Issuer Default?
There’s an interesting discussion going on about inflation as another form of default. Brad Delong and Noah Smith both say that Modern Monetary Theory is wrong to argue that inflation [ … ]
Why Do Non-Experts Think They Know About Macroeconomics?
Maybe the more relevant question here is why do macroeconomists think they have a monopoly on “macroeconomics” when macroeconomics is actually much broader than just economics?
Common Myths About Keynesian Economics
The only people who think Keynesian economics and socialism are synonymous are the people who don’t understand Keynesian economics.
Milton Friedman Might Have Won the Battle, but he’s Losing the War
Nick Rowe writes a post glorifying Milton Friedman declaring that “we are all Friedman’s grandchildren” and that New Keynesian economics owes more to Friedman than to Keynes. He also takes [ … ]