Category Archives: Uncategorized

At today’s Inflation Report press conference, BoE Governor Mark Carney dismissed one question by refusing to say whether the MPC might have cut rates in the hypothetical situation in which the yield curve had not flattened and provided stimulus. It’s … Continue reading →

Two instances. Today, the spectacle of Donald Trump, competing for the Republican nomination in the 2016 US Presidential election, accusing Janet Yellen’s Fed of skewing monetary policy deliberately to help out President Obama. Or John McDonnell, expressing the view that … Continue reading →

ICYMI Ben Chu hosted this on the Independent website.

The web has been full of Philips curve sarcasm and trolling recently, following comments from the Fed about the uncertainties in the relation between the output and unemployment gap and inflation. But those not immersed in this should realise that … Continue reading →

Mark Carney extolled the benefits of staying in the EU in a speech delivered alongside a staff report explaining how exit would affect the ability of the BoE to deliver monetary and financial stability. Repeating a theme familiar to readers … Continue reading →

Here PK recommends, working through – pretty uncontroversially – the logic of the standard New Keynesian model, that Japan should try another burst of expansionary fiscal policy to raise inflation.  But that it should actually do it with enough force … Continue reading →

JM writes in the FT about things to be considered under the rubric of a mandate review, conducted for him by Danny Blanchflower, John Hall, Simon Wren Lewis and Adam Posen.  He writes that ‘operational independence’ is ‘sacrosanct’, which is … Continue reading →