Author Archives: Tony Yates

Monetary policy delegation rebounded, and an odd trade-off

Back in the day, monetary policy economists and practitioners discussed the benefits of delgating monetary policy to an independent central bank. There were two kinds. The first was to remove an ‘average inflation bias’.  Think of a two period game.  … Continue reading

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Dismantling and devolving the pernicious union

In recent blog posts, I have been advancing ideas that respond to the frightending dysfunction in the UK polity. 1.  Separation of Northern Ireland, Scotland, and Wales into individual, independent countries embedded into the EU, and England levered to tether … Continue reading

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Brexit: the mutually inconsistent views of the desirable anchor and the stormy constitutional sea

One feature of Brexit from the perspective of those who see political and economic benefits to remaining a member of the EU is that there is no safe, perpetual compromise position. There are soft versions of Brexit in which almost … Continue reading

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Asymmetric radicalization of Leavers and [most other] Remainers

A striking feature of the post Referendum period is the radicalization of Leavers.   Amongst leading protagonists, many supported remaining in the EU’s single market during the campaign.  Subsequently, the focus shifted towards leaving the single market and customs union in … Continue reading

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The changing calculus of Scottish Independence

Much was made of the first poll in favour of Scottish independence.  The calculus is changing.  I would argue that for a variety of reasons, independence is now more attractive. Relative to 2014, the first benefit is removing Scotland from … Continue reading

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Lewis Goodall’s ‘Remainers are rubbish’ conclusion.

Lewis Goodall, Political Correspondent for Sky, wrote a thread on Twitter today concluding with a familiar line that Remainers are not good at politics.  They ‘may as well pack up and go home’.  They are ’embarrassingly bad at politics’.   The … Continue reading

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Not entirely negative about Positive Money

Positive Money and I have had an exchange of blog posts on FT’s Alphaville about their suggestions for what the successor to Mark Carney, Governor of the Bank of England, should and should not do. I remain deeply opposed to … Continue reading

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