Tom Duncan

Monetary Policy in a World of Uncertain Productivity Growth

“This paper considers inflation forecasts for 2001 under two different assumptions about productivity growth. One assumption, the optimistic one, is that productivity growth has risen above its long-run historical average […]

Inflation

“Inflation rates vary from year to year and from currency to currency. Since 1950, the U.S. dollar inflation rate, as measured by the December-to-December change in the U.S. Consumer Price […]

“Obama Pays More Than Buffett”

“The bond market is saying that it’s safer to lend to Warren Buffett than Barack Obama. Two-year notes sold by the billionaire’s Berkshire Hathaway Inc. in February yield 3.5 basis […]

“Bailout Bonanza”

“Sen. Chris Dodd’s latest bill to fix the financial system is another failure. After months of negotiation, he’s produced a “reform” of the regulatory system that simply fails to deal […]

“Placing our faith in economic oracles”

“One of the sadder categories in the history of human misfortunes is the list of those things that are obvious, but wrong. By definition, if something is obvious, most people […]

“Sound Money: The Impossible Dream?”

“Our gold standard money didn’t fail us in 1913; it was murdered. Did it deserve to die? What was its crime? It had provided us with nothing less than relative […]

“More Muscle to Fed”

“Mr. Dodd’s bill would allow the Fed to examine any bank-holding company with more than $50 billion in assets, and large financial companies that aren’t banks could be lassoed into […]