Search Results for: inflation target

One of the reasons I am against using helicopter money as a counter-cyclical monetary policy tool is that, once society gets a taste for it used in these circumstances, there will be pressure to use it for acyclical purposes, financing … Continue reading →

A quick post to tease out more clearly the issue of whether or not Corbyn’s proposed ‘People’s QE’ would be inflationary or not. The reason it would be is because it sets a precedent for using money creation to finance … Continue reading →

Recently, ex-MPC member Danny Blanchflower, known for his ‘dove-ish’ views on interest rates, wondered who would get the ‘dove-ish’ seat on the Monetary Policy Committee that David Miles was vacating [leave aside that DM would reject that label], and Danny … Continue reading →

Simon Wren Lewis joins in the celebration of the Bank of England’s new blog for staff.  But I think he can be read as going a bit too far in divining a message – and discernible dissent – in one … Continue reading →

The Chancellor has announced that he wants to legislate to force future governments to run surpluses in ‘normal times’.  Two reasons make it hard to comment definitively on this proposal.  First, the devil will be in the detail of what … Continue reading →

In response to blogs by Robert Peston, Simon Wren Lewis, and Jonathan Portes. In Peston’s blog, he says ‘I am simply pointing out that there is a debate here’, after suggesting earlier that ‘maybe the lesson of the last Parliament… … Continue reading →

Paul Krugman, Simon Wren-Lewis and Eric Lonergan weighed in on the issue of whether, in 2010, the Coalition’s initial inclination to ‘austerity’ was justified or not.  Mark Gregory also made a good point on Twitter which I want to recount. … Continue reading →

Simon Wren Lewis has a string of posts explaining what he describes as several ‘myths’ of ‘mediamacro’, and contrasting that with how he sees the true narrative of the financial crisis and the different governments’ conduct during it. I want … Continue reading →

Here are some grumbles about the current econ election debate. 1.  That the Coalition claim credit for the extraordinary job-creation.  This almost certainly had nothing whatsoever to do with Government policy.  Except by comparison to some counterfactual Government that would … Continue reading →

Ben Bernanke’s new blog has gripped the Econternet. Bernanke has argued that the US economy is not experiencing secular stagnation.  Sooner or later, warranted real interest rates will rise above -2 per cent, and the Fed will be free to … Continue reading →