Fiscal Policy
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“Fed’s Fisher sees slower U.S. Growth Ahead”
“In the second half of 2010, the U.S. will experience “slower economic growth than we’ve had in the first and second quarter,” Fisher told the Japanese business daily Nikkei. He […]
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“The Use of Knowledge in Society”
“The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never […]
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The United States: Deficit Champion
“Evidence that the current Administration is taking a different tack on economic policy was abundant at the recent Group of 20 (G-20) meetings in Toronto. The European governments, led by […]
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“A Fiscal Theory of Government’s Role in Money”
“As an alternative to market failure explanations, we draw on theory and historical evidence to argue that fiscal considerations explain the roles governments typically play in producing and regulating money. […]
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“Why Obamanomics Has Failed”
“The administration’s stimulus program has failed. Growth is slow and unemployment remains high. The president, his friends and advisers talk endlessly about the circumstances they inherited as a way of […]
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“The Financial Crisis: A Timeline of Events and Policy Actions”
“February 2007 February 27, 2007 | Freddie Mac Press Release The Federal Home Loan Mortgage Corporation (Freddie Mac) announces that it will no longer buy the most risky subprime mortgages […]
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“Fed Watch: Europe Debt Crisis May Lead to More Cautious FOMC”
“Federal Reserve officials could express more caution about the U.S. economy’s recovery after their meeting this week, giving them additional reason to keep short-term interest rates close to zero for […]
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Greenspan Warns of Fiscal Profligacy
In a Wall Street Journal op-ed, former Fed Chairman Alan Greenspan warns of U.S. fiscal profligacy, in part fuelled by the current low borrowing costs of the government: “Despite the […]
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Greek Government Junk Bonds
The Greek crisis rolls on. This week yields on Greek government bonds rose by almost 3/4 of a percentage point to 9.06 percent as Moody’s–a rating agency–downgraded its debt to […]
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“China May Have Dug a Financial Hole”
“In late 2008, with the financial crisis rippling through the global economy, China’s leaders embarked on a two-year, $586 billion spending program to try to stave off a recession and […]
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European Weakness Is Fuelling U.S. Profligacy
The European debt crisis has demonstrated the painful costs of fiscal profligacy and short-sighted Keynesian stimulus. In the words of financial historian Niall Ferguson, “there is no such thing as […]
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“AIG Repayment Prospects Fade”
“Taxpayers have lent AIG $132.6 billion, but the probability that the government would recoup all of those funds fell even further this week after the insurer failed to complete a […]