mainly macro

                In previous posts I have given two arguments for looking at aggregate macroeconomic models without explicitly specifying the...

              Two small points following up on my previous post on microfoundations. 1) Adopting rational expectations as the default expe...

                 In previous posts I have focused on the problems of Eurozone current account imbalances and misalignments (differences in c...

For those who do not know the reference, which I think is apposite, see here . In my previous post on microfoundations I said I disagreed ...

                 What follows is not a new story: many people have argued that the problems of the Eurozone are as much about private sector...

                In a recent post I suggested one microfoundations based argument for what Blanchard and Fischer call useful models, and I c...

                Have you ever wondered why anyone becomes a football (soccer) referee? You are almost certain to be hated by one team and it...