Author Archives: Tony Yates

My twitter feed has been stuffed with commentary about the recently released Fed transcripts and debates about the performance of the key personalities on the FOMC.  Apart from being great fun, it has only just struck me how useful these … Continue reading →

Paul Krugman let off an angry post castigating the OECD for carping about structural reform being necessary to help solve the crisis, and at the same time poking fun at their support for austerity fiscal policies in the Euro Area.  … Continue reading →

Draghi recently commented that ‘we are not seeing deflation’.  He elaborated.  They weren’t ‘seeing’ people postpone purchases until prices fell.  The ECB were ready to act [presumably when they did ‘see it’].  But there was no need to act further … Continue reading →

This was Miles Kimball’ contention, questioned by David Andolfatto recently.   An anecdote from the sticky price DSGE literature.  Suppose we take the view that the Great Recession was primarily a credit crunch.  As such, looser policy would have been a … Continue reading →

Last week the UK underwent a surprising constitutional change, and one that seems to have gone without much comment or analysis in UK media, as pointed out to me in an email from Jonathan Portes.  The Treasury’s top civil servant, … Continue reading →

Yesterday [13 Feb 2014] was a big moment in the  life of the UK constitution.  As part of an all party media campaign to communicate that no possible future UK government would agree to a currency union with a putative … Continue reading →

Today was an exciting day for Bank of England junkies, in fact for anyone who gets off on central banking and monetary policy communication [cue to those of you who don’t to quit reading this].  The Monetary Policy Committee ‘updated’ … Continue reading →