The Taper, Nick Rowe, Quantitative Easing, and Intellectual Coordination Failures: Wednesday Focus for August 27, 2014

Nick Rowe begs for North Atlantic central banks to do what he (and I) regard as their proper job, and writes: Nick Rowe: Money, Prices, and Coordination Failures "The more interesting cases are... ...where a non-monetary coordination failure has spillover effects, and causes a monetary coordination failure. A worsening of asymmetric information problems in financial… More >

Under What Circumstances Should You Worry That the Stock Market Is “too High”?: The Honest Broker for the Week of August 16, 2014

Robert Shiller: The Mystery of Lofty Stock Market Elevations "The CAPE ratio, a stock-price measure I helped develop... ...is hovering at a worrisome level.... Above 25, a level that has been surpassed... in only... the years clustered around 1929, 1999 and 2007. Major market drops followed those peaks.... We should recognize that we are in… More >

Monetarist, Keynesian, and Minskyite Depressions Once Again: Yes, Lloyd Metzler Was the Greatest Chicago Macroeconomist Ever: The Honest Broker for the Week of July 19, 2014

I have said this before. But I seem to need to say it again... The very intelligent and thoughtful David Beckworth, Simon Wren-Lewis, and Nick Rowe are agreeing on New Keynesian-Market Monetarist monetary-fiscal convergence. Underpinning all of their analyses there seems to me to be the assumption that all aggregate demand shortfalls spring from the… More >

Over at Writers with Drinks: Oversharing About Money: An International Financial Wire Transfer from Lafayette, California, USA to Ahero, Nyando District, Nyanza Province, Kenya: Monday Focus for July 14, 2014/The Honest Broker

Writers with Drinks: An Evening of Oversharing About Money: 7:30 p.m. July 12 :: Make-Out Room :: 3225 22nd St. San Francisco, CA :: Price: $5-$20 http://writerswithdrinks.com: "If time is money, then consider this evening with Charlie Jane Anders, J. Bradford DeLong, Frances Lefkowitz, Farhad Manjoo, and Carol Queen to be a good investment..." Oversharing… More >

Piketty Day Here at Berkeley: The Honest Broker for the Week of April 26, 2014

It's Piketty Day here at Berkeley. So let me note that Robert Solow has another good Piketty review: Robert Solow: 'Capital in the Twenty-First Century' by Thomas Piketty, Reviewed: "Inequality... has been worsening... the widening gap between the rich and the rest.... A rational and effective policy for dealing with it... will have to rest… More >