Monthly Archives: March 2012

Krugman has an interesting post that fiddles around with Larry Ball´s recent psychoanalysis of Bernanke´s about face, especially if you compare BB today with the BB who 12 years ago wrote on the Japanese “Self-induced paralysis”. Essentially Krugman sets up … Continue reading →

Brad I tried to put a comment on your blog but have been repeatedly blocked. I´ve also noticed that at least one comment that suggested you were not being reasonable about this affair “sneaked through” but was later deleted (funny … Continue reading →

David Beckworth and I have for a long time been using a charting technique that purports to show, explicitly, that the economy is “slogging”, not “recovering”. Now I see that Tim Duy is doing the same, but his interpretation is … Continue reading →

He “confessed” he knows both the cause and the solution to the “problem”: “We lack a source of demand to keep the economy growing,” said Federal Reserve Chairman Ben Bernanke at a recent GWU lecture. The economic recovery will be slow and … Continue reading →

I was just beginning to do a post on Bernanke´s 4th and final Lecture to students at GWU when I came across this just written post by David Beckworth: The Fed’s failure to stabilize and restore aggregate demand meant it … Continue reading →

The other day I wrote a post which Brad summarizes in his blog: A man for any season: Before it was about “expansionary austerity”. Now it´s convenient to call for “self-financing fiscal stimulus”: In a “Man for all seasons”, we … Continue reading →

From Taylor´s op-ed at the WSJ: Unfortunately the Fed has returned to its discretionary, unpredictable ways, and the results are not good. Starting in 2003-05, it held interest rates too low for too long and thereby encouraged excessive risk-taking and … Continue reading →

From the Merco Press: The president of Argentina’s Central Bank (BCRA), Mercedes Marcó del Pont, stressed the importance of the recently approved bank’s charter reform and denied that printing currency leads to the creation of an inflationary state “since inflation … Continue reading →

Bernanke said of the Great Depression in his third Lecture at GWU: First, the Fed failed to use monetary policy to prevent deflation and an economic collapse. Second, the Fed did not adequately carry out its responsibility as “lender of … Continue reading →

Academics and policymakers have been discussing for years about “The conduct of monetary policy in a low inflation environment”. The first conclusion that should have been reached was “ditch IT”. Obviously, given the protracted discussion, IT was not robust. So … Continue reading →