Category Archives: Uncategorized

Danny Blanchflower remarked on Twitter that UK economic discourse lacked much engagement from academics. This was a follow-up to a Paul Krugman post where he disparaged UK economic discourse, and used as his metric the fact that there was a … Continue reading →

Daniela Gabor at UWE tweeted an interesting article on Reuters describing troubles in money markets due to a ‘shortage’ of high quality sovereign bonds in the Eurozone.  The proximate cause is the launch of the ECB’s quantitative easing program.  The … Continue reading →

I think the ‘price level shock’ fallacy is related to another fallacy that we can divine the causes and future of inflation by adding up individual price series. The price/level/inflation shock categorizer like Ian McCafferty thinks to himself: ‘oil prices … Continue reading →

I’ve accepted a post as Prof of Economics at Birmingham, where I’ll join in the Summer.

Carney and McCafferty delivered a one-two on monetary policy and oil prices.  Both get it wrong in my opinion, but, in diffent ways.  [Remember Tolstoy’s Ana Karenina:  ‘all good economic arguments are alike.  Each bad one is bad in a … Continue reading →

A tired pun, in service of a continued campaign on this blog for increased transparency in central banking.  Or rather at the Bank of England in particular. Previous rants have focused on the fact that the BoE does not yet … Continue reading →

One memory of my final years at the Bank of England is that every two or three months we were commissioned new pieces of work on QE exit strategies, each time prompting ‘here we go again’ thoughts as the staff … Continue reading →