Monthly Archives: November 2016

Me in Times Online on Autumn Statement

Here.  Sorry, behind paywall.   Advertisements

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Kill two economic policy birds with one stone: more generous, funded transfer payments

Many are fretting, in the face of Brexit and Trump and Le Pen and AFD and Five-Star that economies are doing too little to combat inequality. At the same time, with global real rates set to be low for the … Continue reading

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Helicopter money and QE. Avoiding the fuzzy reversibility problem.

One view of QE – encoded in, for example, Eggertson and Woodford’s 2003 paper, and similar – is as follows. It comprises two steps, one effective, one redundant.  Step one is the creation of money to buy on the open … Continue reading

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Helicopter money: are they doing it anyway, and, if so, so what?

One way to implement helicopter money is to have the government finance a tax cut or a government spending increase, with a conventional bond issue, and have the central bank buy the bonds with newly created electronic money. During the … Continue reading

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Central banks’ desire not to use QE as the marginal tool of adjustment, their exit and entry plans.

The plan for unwinding central bank QE, at least as stated by the Bank of England and the Fed, is that asset sales won’t start until the recovery has got to the point where sales won’t have to be reversed. … Continue reading

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Lessons for macroeconomic policy after Brexit

A curt summary of my remarks – few of them new to those who read this blog – at this year’s Centre for European Reform conference at Ditchley Park, on the topic of ‘Brexit and the economics of populism’. In … Continue reading

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