Category Archives: Uncategorized

This recaps on a tweetstorm this morning.  Perhaps it’s all a cunning plan, or misrepresenation by the media, but if not, the current media strategy of Syriza is worrying. 1.  There is a remarkable amount of cross-section variation (ie across … Continue reading →

Steve Williamson responds to my post asking whether it was sticking to the Taylor Rule that got us into the mess [the opposite of John Taylor’s contention, that it was departing from it that was the problem!]. Two points by … Continue reading →

This summarises a Sunday afternoon conversation with Roger Farmer on Twitter. Apologies for multiple drafts and no links: this is one- fingered on an iPhone from hospital. Roger has a new microfounded macroeconomic theory that has the prediction that the … Continue reading →

Andrew Sentance tweeted: ‘If Greece now “insolvent” why was UK not “insolvent” in 1945? Public debt/GDP = 200%+ http://www.res.org.uk/view/article5jan12Correspondence.html … 25 yrs later was <70%!’ The answer is:  it was insolvent.  The Marshall Plan amounted to roughly £3.3bn pounds over just … Continue reading →

Paul Krugman picks up on my post about proposed legislation to get the Fed to pick a policy rule.  The legislation is being championed by John Taylor because he thinks that the reason we got into this mess was because … Continue reading →

Any negotiations over debt relief between Greece and the Troika can no longer focus on the primary surplus.  There is clearly a sharp contraction under way, amplified by a decline in funding for Greek banks.  Whatever primary surplus there was … Continue reading →

John Taylor and Alan Blinder have been exchanging op-eds in the US press on a bill before Congress now that, if passed, will force the Fed to ‘describe’ its preferred rule for monetary policy. I posted before here on why … Continue reading →