mainly macro

One of the problems with instant responses is that you miss the big picture. And although everything I wrote immediately after the Autumn ...

Mervyn King said “Central banks are often accused of being obsessed with inflation. This is untrue. If they are obsessed with anythi...

Andrew Haldane, Chief Economist at the Bank of England, gave a typically well researched and thoughtful talk recently. The main subject ma...

Although this uses UK events as a spur, the point about QE is universal Labour leadership candidate Jeremy Corbyn has shown some flexib...

Politicians can be adept at co-opting attractive sounding terms to their own cause, even when they distort their meaning while doing so. Os...

 A lot of the discussion of helicopter money is about macroeconomic mechanisms, which is of course fair enough and - for me at least - inte...

If Quantitative Easing (QE), why not helicopter money? We know helicopter money is much more effective at stimulating demand. Helicopter mo...

This is a post about why the taboo against helicopter money or money financed fiscal stimulus is irrational once we have Quantitative Easin...

A lot of the discussion in blogs about the end of the Swiss exchange rate peg has focused on whether the original peg , which started in Se...

A number of us are highly critical of moving to austerity so early in the recovery from the Great Recession. Market Monetarists (MM) argue ...

It is often said that generals fight the last war that they have won, even when those tactics are no longer appropriate to the war they are...

In a previous post I explained why, in a very simple setting, it was best to use lower interest rates to stimulate demand, but that both t...