Monetary Policy Archives - Page 4 of 7

Has the Bank of Japan solved the ‘Piketty problem’?

19th February 2017

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

Japan’s unlikely re-distribution Why is the Bank of Japan (BoJ) trying to raise the rate of inflation? Taking account of its demographic profile, Japan's economic performance has been impressive by developed w...

Blogoff – The Curse of Cash

Eric Lonergan

19th November 2016

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

4

Rogoff's law - the opposite is usually true Punning on Kenneth Rogoff's surname is proving irresistible. He has just launched a new economics blog, which should prove rich in thought-provoking missives. Conf...

Where next? Monetary policy in a post policy-rate world

Eric Lonergan

9th October 2016

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

4

Three new bazookas Recent shifts in policy direction by global central banks may prove to be profound. The Bank of Japan and the ECB appear to be conceding that further bond purchases and lower policy rates ar...

The Bank of Japan is testing Romer’s hypothesis

Eric Lonergan

24th September 2016

Economic History, Monetary Policy, Theory & Other Problems

1

Has the last thirty years of macroeconomics been a waste of time? World Bank chief economist, Paul Romer, has again written a very important critique of modern macroeconomics – or more specifically the academi...

Fiscal subservience – a reply to Chris Sims

Eric Lonergan

16th September 2016

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

Chris Sims is a deeply thoughtful economist and his paper at the recent Jackson Hole conference has rightly received a lot of attention, notably from Gavyn Davies, in the FT, and Paul Krugman. It is simultan...

There is no r*

Eric Lonergan

13th September 2016

Monetary Policy, Theory & Other Problems, Uncategorised

Like many economists, I have been trapped into thinking that there is an equilibrium real rate of interest - a level of the policy rate consistent with stable inflation, a closed output gap, or full employment....

Institutions matter

Eric Lonergan

21st August 2016

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

13

The monetary & fiscal distinction revisited Monetary policy involves changes in the supply of base money and is carried out by central banks. Fiscal policy involves taxation, spending and transfers carried o...

Eight pitfalls to avoid in the helicopter money debate

Eric Lonergan

19th August 2016

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

15

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

...

Monetary policy: transparency or obfuscation?

Eric Lonergan

5th August 2016

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

1

We live in a era where monetary policy is more transparent than ever - if measured by press conferences, publication of minutes and individual policy-makers forecasts. At the same time, the behaviour of cent...

Has the Bank of Japan solved the ‘Piketty problem’?

Blogoff – The Curse of Cash

Where next? Monetary policy in a post policy-rate world

The Bank of Japan is testing Romer’s hypothesis

Fiscal subservience – a reply to Chris Sims

There is no r*

Institutions matter

Eight pitfalls to avoid in the helicopter money debate

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

Monetary policy: transparency or obfuscation?

Reviews of Eric’s book

CNBC: market sell-off is ‘noise’

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