Author Archives: Tony Yates

This is prompted by SWL’s mainlymacro post on Kocherlakota’s comments about the Fed’s objectives. Kocherlakota and Simon want clarification that the target is symmetric. Simon suspects that the asymmetry in the ECB’s objective implied by the words ‘close to but … Continue reading →

John Kay reminds us in his latest FT column that inflation is a statistical chimera. From time to time, new things are invented or desired, and old things no longer bought, and all the time what we buy gets improved. … Continue reading →

Much is being made of the ECB Governing Council’s debates about whether it would ever be prepared to do Quantitative Easing, buying outright member state sovereign bonds.  Draghi and a majority seem in favour of it, but not yet.  It … Continue reading →

Scott Hamilton at Bloomberg, using a Freedom of Information Request, extracted the results of a staff survey conducted by McKinsey during its high-profile strategic review earlier this year.  [And see my earlier blog on the firework display at Carney’s Mais … Continue reading →

Here’s a link to my post hosted at ‘Chunomics’, Ben Chu’s blog on the Independent newspaper’s website.  It takes aim at Anatole Kaletsky’s recent article arguing that central banks were a sideshow in the fight against the Great Contraction.

My ebay copy of Azariades’ ‘Intertemporal Macroeconomics’ arrived in the post today, and, excitedly thumbing through it, trying to work out what had caused the previous owner to scrawl ironic exclamation marks, or underline, I stumbled on a paper by … Continue reading →

Paul Krugman steps in to clarify the distinction between stagnation in growth rates brought upon by a reduced growth in supply – population, technology, participation – and demand.   His piece was prompted by Gavyn Davies’ reporting on some econometrics that … Continue reading →