Brad Delong, combined with an imbedded quote by Krugman, covers off the bone-headed remarks of Niall Ferguson on Keynes in this post. [Note: You might wondering why I’m posting when he has apologised – isn’t that a bit uncharitable of me. Well, he’s said these things in the past so I believe that some element […]
This piece on the dangers of K2 has clearly indicated to me, as a concerned citizen, that something must be done. I think it is pretty obvious to everyone what has to be done here … we need to legalise other drugs. From what I can tell, K2 is inferior to other drugs for the […]
Huzzah, I am writing about tax on Rates Blog. In Part 1 I ask “why do we tax“. I get onto other issues later – in fact, this will be a five article series. Here all I do is combine the idea of “government spending” and “paying for government spending”, and give a little wink […]
A while ago I touched on the issue of long-term unemployment, and youth unemployment, from the persistent recession in NZ. This isn’t an issue we can yell at the RBNZ to fix, so what exactly could we do if we think this situation is leading to specific costs? Costs that we fear the market will […]
Note: I think of macropolicy as policy that is focused on inflation, interest rates, unemployment, and GDP. Of course, the causes of shifts in these often have micro-consequences … something I sort of suggest as we go through 😉 As we’ve come into 2013 with the unemployment rate elevated and the dollar rising strongly I […]
Via the Wonkmonk twitter, this paper from the Fed. The effect of reserve balances in simple macroeconomic models often comes through the money multiplier, affecting the money supply and the amount of bank lending in the economy. Most models currently used for macroeconomic policy analysis, however, either exclude money or model money demand as entirely […]