Search Results for: inflation target

That was my reaction to the Mais lecture.    As well as seeming to me to be what the title of this post suggests, the relaunch was at the same time surprisingly, and almost unreadably dull, plodding through several management cliches … Continue reading →

The Bank is shortly to publish its Strategic Review, in which it enlisted the help of Mckinsey consultants.  As an ex-BoE staffer with 20 years of pent-up ignored (no doubt ignorable and probably tainted) advice I can’t possibly resist the … Continue reading →

This post responds to recent interventions by Paul de Grauwe, which I think put up interesting counter-hypotheses to the position of the German constitutional court, essentially supporting the ECB, but don’t undermine their case. To recap on my previous posts … 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 →

It’s fascinating when macroeconomics and finance becomes a matter of constitutional law, as is happening in Germany, where their constitutional court has ruled on the legality of outright monetary transactions, or OMTs.  Their justification for ruling is that the ECB’s … Continue reading →

George Osborne and fellow Conservatives are attempting – seemingly with success – to run the argument that the fact that the economy is now growing quickly proves that their austerity policy was the right one.  The message gets pumped out … Continue reading →

I have, occasionally, pointed out things that the Bank has done well in this blog.  However, it’s fair to say that most of what I have done is to detail things I think could be done differently.  But in case … Continue reading →

MPC have stressed that their version of Forward Guidance, unlike the original Woodfordian policy to which the term normally refers, is quite different.  Unlike the Woodfordian policy, the Bank of England are not communicating that rates would be lower for … Continue reading →

On Friday, Bank of England Chief Economist Spencer Dale is set to respond to twitter questions posted to #AskBoE.  This seems like a useful time to recap on previous posts on the fiasco, as I see it, surrounding the launch … Continue reading →

This post takes a look back at the Treasury’s review of the Monetary Policy Committee’s Remit, published in March.  This might seem like old news.  But it is soon to be highly topical, as one of the outcomes of the … Continue reading →