Monthly Archives: October 2015

ICYMI Ben Chu hosted this on the Independent website. Advertisements

The web has been full of Philips curve sarcasm and trolling recently, following comments from the Fed about the uncertainties in the relation between the output and unemployment gap and inflation. But those not immersed in this should realise that … Continue reading →

Mark Carney extolled the benefits of staying in the EU in a speech delivered alongside a staff report explaining how exit would affect the ability of the BoE to deliver monetary and financial stability. Repeating a theme familiar to readers … Continue reading →

Here PK recommends, working through – pretty uncontroversially – the logic of the standard New Keynesian model, that Japan should try another burst of expansionary fiscal policy to raise inflation.  But that it should actually do it with enough force … Continue reading →

JM writes in the FT about things to be considered under the rubric of a mandate review, conducted for him by Danny Blanchflower, John Hall, Simon Wren Lewis and Adam Posen.  He writes that ‘operational independence’ is ‘sacrosanct’, which is … Continue reading →

Steve writes wide-rangingly, taking issue with several aspects of empirical macroeconomics. Steve goes for the modern VAR literature, which seeks to identify monetary policy shocks, and measures that these shocks have effects on real variables, and that their effects on … Continue reading →

Duncan Weldon alerted Twitter to this very nice think piece by my old boss, now at BP. One of the points he makes is how new reserve discoveries have been outpacing oil consumption.  And he uses that to question whether  … Continue reading →