The Cato Institute’s Brink Lindsey Is Running an Economic Growth Conference This Week: The Honest Broker for the Week of November 21, 2014

RE: The Future of U.S. Economic Growth & Reviving Economic Growth: A Cato Online Forum Some questions for the authors of the contributions that struck me as the most interesting... Two Questions for Scott Sumner: First Question: Why has nominal GDP targeting not already swept the economics community? It really ought to have. Second Question:… More >

Potential Output and Total Factor Productivity since 2000: Marking My Beliefs to Market: The Honest Broker for the Week of September 26, 2014

I am still thinking about the best assessment of potential output and productivity growth that we have--that of the extremely-sharp John Fernald's "Productivity and Potential Output Before, During, and After the Great Recession". And I am--slowly, hesitantly, and unwillingly--coming to the conclusion that I have to mark my beliefs about the process of economic technological… More >

Department of “Huh?!” John J. Mearsheimer Thinks the West Caused the Ukraine Crisis?: The Honest Broker for the Week of September 19, 2014

John Mearsheimer is only one of a surprising number claiming that the current crisis in Ukraine is predominantly the U.S.'s, and NATO's, and the Ukraine's fault: John Mearsheimer: How the West Caused the Ukraine Crisis: Why the Ukraine Crisis Is the West’s Fault: "The United States and its European allies share most of the responsibility...… More >

“Trapped in the ‘Dark Corners’”?: Thoughts on Olivier Blanchard’s “Where Danger Lurks”: The Honest Broker for the Week of September 12, 2014

Olivier Blanchard, inveighing against "ergodicity" and "linearity" as assumptions, sounds like some post-Keynesian from the 1980s. They were right then. He is right now: Olivier Blanchard: Where Danger Lurks: "One has to go back to the so-called rational expectations revolution... ...What was new was the development of techniques to solve models under the assumption that… More >

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 >