Definitions of Money Archives - Page 3 of 4

Eight pitfalls to avoid in the helicopter money debate

19th August 2016

Definitions of Money, Helicopter Money, Monetary Policy, Money in Europe, Theory & Other Problems

Learn first, then teach Professors Stephen Cecchetti and Kermit Schoenholtz are the latest to opine on the subject of helicopter money. It is worth quoting from their opening paragraphs, it frees me up to re...

Monetary policy & babysitting: why rates are so low, and ‘what’s next?’

Eric Lonergan

7th August 2016

Definitions of Money, Helicopter Money, Monetary Policy, Press

...

A brief reply to Paul Krugman on policy equivalence, h/t Brad DeLong

Eric Lonergan

31st July 2016

Definitions of Money, Helicopter Money, Monetary Policy, Money in Europe

30

Brad DeLong has revived an old piece by Paul Krugman on helicopter money (HM), which is correct in one sense, but I also think completely misses the point. Cutting to the chase, I recently attended a very au...

There are two types of negative interest rates

Eric Lonergan

19th July 2016

Definitions of Money, Helicopter Money, Monetary Policy, Money in Europe

9

One works, the other doesn't Central banks typically alter monetary policy through the price of credit (interest rates) and the provision of credit (usually lending to banks against collateral). Central banks...

Bored by Borio

Eric Lonergan

27th May 2016

Definitions of Money, Helicopter Money, Monetary Policy, Money in Europe

3

Claudio Borio, and his colleagues, incinerate a straw man. Helicopter money - sensibly defined - does not involve any new commitments about future monetary policy. So Borio's arguments are not even relevant. ...

Helicopter money is different

Eric Lonergan

24th May 2016

Definitions of Money, Helicopter Money, Monetary Policy, Theory & Other Problems

31

The discussion of helicopter money may have moved from the periphery of the policy debate to its centre. Unfortunately, analytical confusion seems correlated with interest levels. Keynes once remarked that w...

Bernanke’s four errors

Eric Lonergan

12th April 2016

Definitions of Money, Helicopter Money, Monetary Policy, Money in Europe, Theory & Other Problems

11

I am a huge fan of Ben Bernanke. He can take a significant amount of personal credit for preventing a depression. Also, The Courage to Act is a superb book. Disappointingly, Ben’s latest contribution to the ...

No expectations

Eric Lonergan

6th April 2016

Definitions of Money, Helicopter Money, Monetary Policy, Money in Europe

18

Nick Rowe and his colleagues in Canada have a superb blog. If you’re interested in economics and don't already follow it - take a look. Recently, Nick and I have been discussing the relevance of ‘permanence...

Is it permanent? A reply to Nick Rowe

Eric Lonergan

4th April 2016

Definitions of Money, Finance & Asset Pricing, Helicopter Money, Monetary Policy

7

Nick Rowe has written a typically-lucid note which makes clear why it might make a difference to consumer behaviour if a tax cut is permanent, or temporary. To this extent, we are in full agreement: giving some...

The BoJ has started helicopter drops

Eric Lonergan

26th February 2016

Definitions of Money, Finance & Asset Pricing, Helicopter Money, Monetary Policy

27

Oddly, some economists think that helicopter drops are either beyond the capacity of central banks or highly unlikely. Neither is true - they have already started. It is now clear that the Bank of Japan is e...

Eight pitfalls to avoid in the helicopter money debate

Monetary policy & babysitting: why rates are so low, and ‘what’s next?’

A brief reply to Paul Krugman on policy equivalence, h/t Brad DeLong

There are two types of negative interest rates

Bored by Borio

Helicopter money is different

Bernanke’s four errors

No expectations

Is it permanent? A reply to Nick Rowe

The BoJ has started helicopter drops

Reviews of Eric’s book

CNBC: market sell-off is ‘noise’

Monetary policy & babysitting: why rates are so low, and ‘what’s next?’