Search Results for: inflation target

Tim Young, in typically combative style, doubts in a comment on this blog that there really is a credibility problem in the face of deflation.  I accept that historically, and theoretically, we have focused on the difficulty of persuading the … Continue reading →

In the past, I’ve written that Carney and other senior BoE officials have been speaking out of turn, on subjects like ‘inclusive capitalism’, the economics of volunteering, and whether we have the right model of corporate governance.  The complaints were … Continue reading →

Mark Carney hints that interest rates may rise at the end of the year, and many of the more compressed media pieces on his intervention turn a hint about the obvious into something that sounds like a racing certainty.  For … Continue reading →

Hyun Shin’s presentation, at this week’s BoE/IMF/Hong Kong Monetary Authority conference on monetary policy and macro pru, went something like this. One dimension along which the dollar has become the global currency is in denominating debt, especially in emerging market … Continue reading →

John Taylor [here/here] recently reiterated his views on what caused the global financial crisis. He contends the following.  That the Great Moderation was due to adherence to the Taylor Rule [and to ‘rules-based’ fiscal policy].  That during the early 2000s, … Continue reading →

I like Wolfgang Munchau’s columns on the Eurozone crisis a lot.  But this one on claiming that macroeconomists need new tools is serious overreach.  Anyone actually building, solving or just reading others’ models, will see that it isn’t right, not … 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 →

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 →

There are many positives and negatives in the Syriza victory. The most obvious positive in the Syriza result is that especially in a young and fragile democracy, it’s good for the established politicians to be kicked out once in a … Continue reading →

I’ve been struck by the activities of the Conservative Party Twitter rebuttal machine on economics, ‘Tory Treasury‘ on Twitter, who Danny Blanchflower calls ‘aka Rupert Harrison’.  (He being Osborne’s chief of staff). One theme today was portraying the Labour fiscal … Continue reading →