More INET Videos: Sessions on Complexity and Fiscal Policy
These videos are from the recent INET conference in Berlin: Taking Stock of Complexity Economics: Which Problems Does It Illuminate? Moderator Thomas Homer-Dixon, Director, Waterloo Institute for Complexity and Innovation, University of Waterloo [On Farmer Video] Speakers Doyne Farmer, Professor...
Simple Retirement Calculator
Sorry that I have not been posting much of late. April is always rough for me. Taxes play some role in April, because I get a certain amount of my tax data late, but the main reason stems from some charitable boards on which I serve, which meet in/near April. One of the questions that...
Weekly Sorted Tweeets
Federal Reserve Long Term U.S. Credit Boom Chart http://t.co/Ywub8HQH By bailing out short-term credit cycles, the Fed created a big asset bubble $$ Apr 28, 2012 Quantitative Deleting: The Fed’s $400 Billion ‘Gift’ http://t.co/qavtYcQy Fed’s actions lower cost of funding the US Treasury’s deficit 4now Apr 26, 2012 Bernanke Takes On Krugman’s Criticism Ignoring...
"A Case for Balanced-Budget Stimulus"
People often object to the idea of a multiplier because it comes from the old Keynesian model. Real macroeconomists, we are told, use DSGE models. But using a DSGE model doesn't matter, the result is essentially the same: A case...
A Visit from the Governor
Since coming back to work in Baltimore in 2007, I’ve tried to be more active in the Baltimore CFA Society. That has taken on a number of different forms: Serving on the program committee, lining up speakers as I can — sometimes I find it hard to get well-known friends to do it… surprising to...
Redacted Version of the April 2012 FOMC Statement
March 2012 April 2012 Comments Information received since the Federal Open Market Committee met in January suggests that the economy has been expanding moderately. Information received since the Federal Open Market Committee met in March suggests that the economy has been expanding moderately. No real change. Labor market conditions have improved further; the unemployment rate...
Redacted Version of the April 2012 FOMC Statement
March 2012 April 2012 Comments Information received since the Federal Open Market Committee met in January suggests that the economy has been expanding moderately. Information received since the Federal Open Market Committee met in March suggests that the economy has been expanding moderately. No real change. Labor market conditions have improved further; the unemployment rate...
Book Review: The Golden Revolution
This book is highly optimistic that we will restore a gold standard to our world. Much as I would like it, because it restrains the power of governments that increasingly behave like thugs, I don’t think a gold standard is likely to replace the status quo. The book has many good areas to commend it,...
Sorted Weekly Tweets
Busy week last week. Here’s the economic and other news: =-=-=-=-=-=–=-=-==-=-=-==-=-=-=-=–==-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=- China Bloomberg: Inflated Notions http://t.co/hvMoIFH6 Patrick Chovanec questions whether Chinese economic statistics are correct. $$ Apr 22, 2012 China’s Political Stability Questioned, while Deposit Withdrawals Accelerate http://t.co/X9kJ9oZb Deposits exit China’s banks; many worry $$ Apr 22, 2012 Asia dominates new treasury purchases http://t.co/BXvgGQRi...
Book Review: Then There Were None
The topic of resources running out is perennial. Go back to the ‘60s and ‘70s, you have the Club of Rome and other doom-mongers. There are also the bets placed by Julian Simon on commodity prices in the ‘80s and ‘90s, betting the commodity prices would fall, and they did. Much of the effect stemmed...
"Forecasting the Great Recession: DSGE vs. Blue Chip"
There was more interest in the post on the forecasting ability of DSGE models than I expected, so let me follow up with a post that comes from the NY Fed's Liberty Street Economics blog (this is relatively technical material)....
"Forecasting the Great Recession: DSGE vs. Blue Chip"
There was more interest in the post on the forecasting ability of DSGE models than I expected, so let me follow up with a post that comes from the NY Fed's Liberty Street Economics blog (this is relatively technical material)....
