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Political and economic systems are often fraught with emotional comparisons. Few create more of an uproar than Cuba – with those on the far left seeing it as an ideal to aspire to, while libertarians view it as a fundamentally broken and immoral state. However, no matter how we feel it is always useful to […]
Via Geoff Simmons came this interesting post about new health policy in New Zealand. This isn’t my area of expertise, but I found the post really insightful – I’d definitely recommend it as a read. However, a small part of the post did spark my imagination, and will lead me to write on a loosely […]
On Thursday I was in the supermarket after a long day of reading – with a long night of reading ahead. Next to me was a deal, dark chocolate Tim Tam’s, two packets for $5. They are great with coffee and so I reached to grab them – however, then the barrage of health […]
Look at that, the Bank of Japan has joined other central banks in announcing an explicit inflation target, and doing all they can to show their credibility for achieving it. Good. Some will call this a currency war, or “monetization” – but again, this is the Bank targeting a specific inflation target in a forward […]
Here read this: Yes, if the central bank raises or lowers interest rates, this will affect financial markets. But I thought we had gone beyond thinking of monetary policy in terms of raising or lowering interest rates. Or buying or selling bonds in an open market operation. Or raising or lowering the money supply. Or […]
There is this view going around that the financial crisis has undermined central bank independence – or made it less important. I have no idea where this has even come from, and it doesn’t seem to follow for me. If anything, the crisis appears to have increased the importance of credibility and independence. What? Well […]