The nominal yields on "high-grade" government debt instruments continue to plunge; see here. Real interest rates on U.S. government debt are negative (I talk about real yields here). It is a pretty bearish sign...
Plunging Yields
Yes, you can have fun with downloads
It is an important and little-known property of web browsers that one document can always navigate other, non-same-origin windows to arbitrary URLs; in more limited circumstances, even individual frames can be targeted....
Tax policy shocks and the business cycle
I have to admit that I never ascribed much importance to the idea of "tax policy shocks" as an important driver of the U.S. postwar business cycle. I thought of such shocks as perhaps playing a supporting role, along the...
Yrkesveiledning for aksjeroboter
Høyesterett avgjorde med knappest mulig flertall at to daytradere som manipulerte Timber Hills aksjerobot frifinnes. Det var nære på at roboter fikk en lukrativ opsjon i det norske aksjemarkedet. To av fem dommere mente...
A reply to David Beckworth
If potential GDP is what the CBO says it is, then the U.S. economy seems to be stuck in a rut. Proponents of NGDP targeting generally believe this to be the case. They also believe that were the Fed to adopt a credible NGDP target right now (with the NGDP path targeted back to its original path), then...
Is higher inflation really the answer?
A lot of people, including those who favor NGDP targeting, want the Fed to raise the rate of inflation; at least, temporarily. Three questions immediately come to mind: [1] What is the theoretical mechanism linking economic...
