Author Archives: Tony Yates

This post pulls together and recaps last night’s tweets. I was really struck by reading this document from the St Louis Fed, reflecting back solemnly on the culture of research first launched by Homer Jones in the 1960s.  It articulates … Continue reading →

Simon Wren-Lewis calls for an extension of the remit of the Office for Budget Responsibility, (OBR), the fiscal watchdog set up by Coalition Chancellor George Osborne, echoing Giles Wilkes.  The idea is to include in their services the option to … Continue reading →

A quick reaction to Andrew Haldane’s latest speech, released this morning.  After a great survey of the literature on behavioural econ and finance, and economic psychology, he says: “The Bank is about to embark on what will be, in the … Continue reading →

There is continuing debate on the blogosphere about whether, contrary to common monetary economics parlance, interest rates are not low because inflation is low, but low interest rates are actually causing low inflation, with more contributions from John Cochrane, Noah … Continue reading →

A quick Bank of England Inflation Report Press Conference Post Mortem. The headline seems to be that MPC is forecasting a larger, protracted deviation of CPI inflation below the 2 per cent target.  That is despite some softening in the … Continue reading →

Adair Turner’s FT piece urges the central bank/government to finance future debt with helicopter money.  Leaving aside the merits of helicopter money, I found his argumentation unusual.  It’s a piece worth taking seriously, because one presumes there must be a … Continue reading →

This converts a tweet-rant [trant?] into a quick post. I’m against George Osborne’s reported proposal for a Northern Sovereign Wealth Fund to ring-fence public proceeds from developing shale gas reserves.  Or, in fact, against any localised sovereign wealth fund for … Continue reading →