Monthly Archives: December 2014

Weale and McCafferty: the mystery of persistent hawk and doveishness

At the next Monetary Policy Committee vote, most are expecting Martin Weale and Ian McCafferty to vote for a 0.25pp rise in interest rates.  They have been voting for just this since August. The curious thing, if you look at … Continue reading

Posted in Uncategorized | 5 Comments

ECB QE. To mutualise or not?

Had a great lunch with an economist friend who alerted me to something that is obvious, but I had not thought of, and who then explained it wonderfully.  (And then returned to find Twitter full of it too.)  That there … Continue reading

Posted in Uncategorized | Leave a comment

Chakrabortty’s working title ‘University Economics: the £9,000 lobotomy’

Pontus Rendahl, a rising star in macroeconomics at Cambridge, makes a revealing comment on my previous post about Aditya Chakrabortty’s idiotic and ill-informed Radio 4 program on economics.  I’ll quote it full here: I was approached, not by BBC, but … Continue reading

Posted in Uncategorized | Leave a comment

Peston’s Mr Markets, Krugman and Wren-Lewis’ Dr Pangloss

Robert Peston has been basking in the unusual distinction – for a journalist – of getting a pasting from Paul Krugman, and the somewhat less unusual distinction of criticism from Simon Wren Lewis.  Simon has coined a phrase to describe … Continue reading

Posted in Uncategorized | 13 Comments

Money, inflation and the zero bound. Krugman-Evans-Pritchard revisited.

Paul Krugman and Ambrose Evans-Pritchard have been jousting on the question of whether the central bank can create inflation at the zero bound or not.  I don’t think either of them have teased out all the subtleties, and, partly as … Continue reading

Posted in Uncategorized | 4 Comments

The BoE’s Warsh Report on transparency around monetary and financial policy

What a day for BoE watchers, and particularly for ex-BoE people like myself.  At Treasury Committee in March this year, perhaps prompted by media coverage [eg this and this by Mike Bird, and this by Chris Giles] of the revelation … Continue reading

Posted in Uncategorized | 1 Comment

George Osborne lashes out at the BBC

This morning [4/12] on BBC Radio 4’s Today program, George Osborne lashed out at the BBC’s coverage of the budget labelling it ‘hyperbolic’. This is a pretty low tactic, and also substantively wrong.  All the BBC were doing is pointing … Continue reading

Posted in Uncategorized | Leave a comment