What Is Optimal Monetary Policy, Anyway?
byEver since the important contributions of new classical economists Finn E. Kydland and Edward C. Prescott during the 1970s and 80s, modern macroeconomics seeks…
monetary policy
Cobden Centre Seminar at the OECD and Meeting at the IMF
byLast Wednesday I gave a seminar at the OECD on the Austrian School of Economics. I presented with Professor Gunther Schnabl from Leipzig University,…
Here we go again…
byAs world stock markets continued to climb to cyclical – if not all – time highs, it became almost the norm for industry talking…
Regulatory Perspectives on Virtual Currencies
byThis piece was kindly produced for The Cobden Centre by Sean F. Ennis and Gert Wehinger at the OECD as part of the The Cobden…
Zero Hedge: The ECB Has Almost Run Out Of German Bonds To Buy
bySource: http://www.zerohedge.com/news/2017-06-06/ecb-has-almost-run-out-eligible-german-bonds-buy One month ago, when looking at the sudden change in ECB bond purchasing patterns, especially of German Bunds, we reported that the central…
Business cycles are credit cycles
byThis article gets to the heart of why central banks’ monetary policy will never succeed. The fundamental error is to regard economic cycles as…
Jeffrey P. Snider: Further Unanchoring Is Not Strictly About Inflation
byAccording to Alan Greenspan in a speech delivered at Stanford University in September 1997, monetary policy in the United States had been shed of…
Penny wise and pound foolish ?
by“Sir, “Most of the commentary in the UK press since the announcement of the “merger” of Standard Life with Aberdeen has focused on job…
Joseph Y. Calhoun: Pump It Up
byShe’s been a bad girl. She’s like a chemical. Though you try to stop it, she’s like a narcotic. You wanna torture her. You…
David Gordon on Mervyn King: Central Bankers Are Losing Faith in Their Own Alchemy
byMervyn King is the British Ben Bernanke. An eminent academic economist, who now teaches both at New York University and the London School of…