“After 1914, the gold standard was given up and in the 1920s countries unabashedly resorted to unbridled fiat money resulting in hyper-inflation in a number of European countries. World War […]
“After 1914, the gold standard was given up and in the 1920s countries unabashedly resorted to unbridled fiat money resulting in hyper-inflation in a number of European countries. World War […]
“The U.S. Consumer Price Index for April provided insight into one reason why the housing market is so quiet. While home prices have been showing steady erosion so far this […]
“William Niskanen (2002) estimated a Phillips curve for the United States using annual 1960–2000 data. By adding one-year lagged terms in unemployment and infl ation, he was able to show […]
“The federal government recently placed Fannie Mae and Freddie Mac, the government chartered, privately owned mortgage finance companies, in conservatorship. These two massive companies are profit driven, but as government-sponsored […]
“The Federal Reserve System is a major sponsor of monetary economics research by American economists. I provide some measures of the size of the Fed’s research program (both inputs and […]
“Could the U.S. economy use an extra $170 billion right about now? Though the economy has shown fitful signs of growth, that growth is still so fragile that it remains […]
“Practically speaking,a ceiling that is raised automatically is no ceiling at all. Given that, why not dispense with the pretense? The reason is politics. No Congressman wants to be on […]
“The US economy is headed for a period of higher inflation and lower growth that makes the nation’s debt unappealing when measured against its global competitors, Pimco’s Bill Gross told […]
“The second problem with QE2 is that the Fed is stuck in an inappropriate economic model, which embodies the adage that when all you have is a hammer, every problem […]
“Bernanke continues to dismiss inflation as a big U.S. economic concern, and the Fed decided last week to keep interest rates between 0.00% and 0.25% “for an extended period.” But […]