Monthly Archives: March 2016

Prospect article on the budget

I wrote this article as a preview to the budget for the Prospect website today.

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The BoE and the Brexit debate

Written in haste during a visit to South Africa, talking about fixing monetary and fiscal policy after the crisis [slides here], and recapping on recent tweets for those who don’t do Twitter. Yesterday, Carney appeared before Treasury Select Committee and … Continue reading

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Negative rates, abolishing cash, nominal illusion and neurosurgery

Miles Kimball’s preferred solution to the current predicament, in which the zero, or quite near zero bound to central bank interest rates constrains the amount of stimulus that can be imparted, is to reform monetary institutions so that negative rates … Continue reading

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Smartphones, bitcoin and the unit of account

I listened to BoE Deputy Governor Ben Broadbent’s speech on digital currencies today.  It’s a tour de force. One line of thought that one might be tempted into is the following.  Because Bitcoin is not widely used as a unit … Continue reading

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Helicopter money blog tennis

Simon Wren Lewis pitches in to an exchange involving Adair Turner, myself and most recently Paul Krugman. Adair wrote to make the argument that helicopter money was an alternative to lowering interest rates.  My blog pointed out that it wasn’t.   … Continue reading

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