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... 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 "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 >

Telling the Real History of Twentieth-Century East-Central Europe Through Black Screwball Comedy Cozy-Catastrophe Farcical Tragedy: Watching Wes Anderson’s “The Grand Budapest Hotel”: The Honest Broker for the Week of April 5, 2014

In Alfred Hitchcock's (1938) The Lady Vanishes, the moment when the train is stopped in the countryside by armed fascists is the moment of revelation and clarity: all becomes clear, the adversaries reveal themselves, and the proper action heroics can begin. In Wes Anderson's (2014) The Grand Budapest Hotel, the first moment when the train… More >