Monetary Policy
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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 Index (CPI), has ranged from a low of −0.7 percent (1954) to a high of 13.3 percent (1979). Since 1991, the rate has stayed between…
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“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 points less than Treasuries of similar maturity, according to data compiled by Bloomberg. Procter & Gamble Co., Johnson & Johnson and Lowe’s Cos. debt also…
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“Something Besides Money Growth Causes Inflation?”
“Some economic phenomena can result from a variety of causes. A temporary increase in unemployment, for example, might be caused by a sudden, disruptive change in production technology, or in trade patterns, or in labor or tax laws; or it could be caused by natural disasters or wars, or by recessions due to monetary or…
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“Giving the Fed New Powers Ignores History”
“The Fed’s own origins are evidence for this point. It is usually argued that the Fed was created to avoid the banking crises that plagued the United States in the late 19th century. That is true to an extent. What it misses is that those crises were the product of the regulations of the National…
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The Global Debt Crisis
Recent developments have clearly demonstrated that “there is no such thing as a Keynesian free lunch.” The grim story of fiscal crises afflicting major economies is something that should not be taken lightly. It could happen sooner than most people think if the governments of the US and other debt-ridden countries don’t get their fiscal…
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Getting to the Bottom?
On Wednesday, March 10, a Wall Street Journal article announced that the Financial Crisis Panel will be convened in early April with Alan Greenspan as the center act. According to the article, “The hearing will focus on the explosion of subprime mortgages, and the complex securitizations that Wall Street engineered from those loans. And it…
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“Monetary Policy and the Free-Market Economy”
“Let me say first that I believe in the benefits conferred by the free market as strongly as anybody in this country: nobody, anywhere, has yet devised a way of organising economic activity which comes close to the free market as a way of efficiently producing the goods and services which people want. So what…
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The Transmission Mechanism of Monetary Policy
“Economists do not agree about how monetary policy affects the economy. Different observers weigh in different ways the various specific channels through which monetary policy works. Views diverge even about the monetary transmission process in individual industrialised nations, the subject of decades of theoretical and empirical research; the process in developing countries is still more…
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Monetary Policy Operating Procedures
“This work provides an overview of monetary policy operating procedures in emerging market economies. Most of the discussion reflects the situation in mid-1998. The emphasis is on general principles although in practice country-specific factors condition actual procedures. Yet there has been a certain convergence in monetary policy instruments and procedures in recent years, not only…
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“Belongia on the Fed”
“Michael Belongia of the University of Mississippi and former economist at the St. Louis Federal Reserve talks with EconTalk host Russ Roberts about the inner workings, politics, and economics of the Federal Reserve. Belongia talks about the role that power and politics play in Federal Reserve decision-making and how various Fed chairs used their power…
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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 Index (CPI), has ranged from a low of −0.7 percent (1954) to a high of 13.3 percent (1979). Since 1991, the rate has stayed between…
-
“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 points less than Treasuries of similar maturity, according to data compiled by Bloomberg. Procter & Gamble Co., Johnson & Johnson and Lowe’s Cos. debt also…
-
“Something Besides Money Growth Causes Inflation?”
“Some economic phenomena can result from a variety of causes. A temporary increase in unemployment, for example, might be caused by a sudden, disruptive change in production technology, or in trade patterns, or in labor or tax laws; or it could be caused by natural disasters or wars, or by recessions due to monetary or…
-
“Giving the Fed New Powers Ignores History”
“The Fed’s own origins are evidence for this point. It is usually argued that the Fed was created to avoid the banking crises that plagued the United States in the late 19th century. That is true to an extent. What it misses is that those crises were the product of the regulations of the National…
-
The Global Debt Crisis
Recent developments have clearly demonstrated that “there is no such thing as a Keynesian free lunch.” The grim story of fiscal crises afflicting major economies is something that should not be taken lightly. It could happen sooner than most people think if the governments of the US and other debt-ridden countries don’t get their fiscal…
-
Getting to the Bottom?
On Wednesday, March 10, a Wall Street Journal article announced that the Financial Crisis Panel will be convened in early April with Alan Greenspan as the center act. According to the article, “The hearing will focus on the explosion of subprime mortgages, and the complex securitizations that Wall Street engineered from those loans. And it…
-
“Monetary Policy and the Free-Market Economy”
“Let me say first that I believe in the benefits conferred by the free market as strongly as anybody in this country: nobody, anywhere, has yet devised a way of organising economic activity which comes close to the free market as a way of efficiently producing the goods and services which people want. So what…
-
The Transmission Mechanism of Monetary Policy
“Economists do not agree about how monetary policy affects the economy. Different observers weigh in different ways the various specific channels through which monetary policy works. Views diverge even about the monetary transmission process in individual industrialised nations, the subject of decades of theoretical and empirical research; the process in developing countries is still more…
-
Monetary Policy Operating Procedures
“This work provides an overview of monetary policy operating procedures in emerging market economies. Most of the discussion reflects the situation in mid-1998. The emphasis is on general principles although in practice country-specific factors condition actual procedures. Yet there has been a certain convergence in monetary policy instruments and procedures in recent years, not only…
-
“Belongia on the Fed”
“Michael Belongia of the University of Mississippi and former economist at the St. Louis Federal Reserve talks with EconTalk host Russ Roberts about the inner workings, politics, and economics of the Federal Reserve. Belongia talks about the role that power and politics play in Federal Reserve decision-making and how various Fed chairs used their power…
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