Archive for the ‘Economic Growth’ Category

A quick note on the Fed meeting and the need for “patience” for a “considerable time.”

December 17th, 2014

As the Federal Reserve Open Market Committee meets today to decide their path for monetary policy, there’s great focus on whether they’ll change a few key words of their guidance language. Specifically, will they drop “considerable time” from the sentence wherein the telegraph their thinking about how long they’ll hold interest rates at around zero? EG,… Read more

My talk to the Roosevelt Institute Campus Network

December 12th, 2014

It was my privilege last night to give the keynote presentation at the Roosevelt Institute Campus Network’s 10th anniversary party. Why me? Because when they started out a decade ago, I recognized what a great idea they had and tried to help a bit. What they’ve accomplished since then is remarkable and gives me hope for… Read more

Why is our macroeconomy doing so much better than Europe’s?

December 1st, 2014

Over at PostEverything. Bonus for OTE’ers: here’s an update of a figure I made awhile ago tracking Eurozone GDP, government spending (both in real terms), and unemployment. What I find revealing here is the fairly clear–for this sort of thing–initial increase in public spending to offset the downturn and the subsequent stabilization of GDP and… Read more

When Minsky raises an eyebrow, I pay attention. So should you.

November 19th, 2014

The work of the late economist Hyman Minsky has become increasingly relevant in recent years, as his understanding of the fragility of financial markets and their role in bubbles and busts was both deep and prescient. Other economists generally viewed financial markets as playing not much more than an intermediary function, passively allocating excess savings… Read more