Monthly Archives: August 2013

The key question at the heart of the revelation of the new framework for the implementation of monetary policy is whether it constitutes a loosening of monetary policy, relative to what was envisaged before. It seems inconceivable that there could … Continue reading →

In a typically entertaining and provocative recent blog post, Noah Smith pronounced ‘the death of theory’, and then proceeded to offer a post-mortem.  Paul Krugman thought he had exaggerated a little, but still accepted the basic premise, and then offered … Continue reading →

The MPC will shortly publish its August inflation forecast, and its evaluation of the policy of ‘forward guidance’, commissioned back in March by the Treasury (an action I previously noted was tantamount to saying ‘how about looser monetary policy, folks?).  … Continue reading →