Archive for the ‘New Posts’ Category

Chair Yellen invites Pope Francis to Federal Reserve to bless Phillips Curve

September 23rd, 2015

In yet another example of unconventional Federal Reserve policy, Fed officials invited Pope Francis to their DC headquarters today to offer a papal blessing to their beleaguered workhorse, the Phillips Curve. Though the curve has historically provided the Fed guidance as to the relationship between unemployment and inflation, in recent years, it has demonstrably failed to do so, leaving… Read more

It takes both (monetary and fiscal policy)…and the drug market ain’t no market

September 23rd, 2015

One reason it’s been so hard to shift this economy out of second gear–why we’re still stuck with large output and employment gaps–is that there’s actually a cost to dysfunctional federal politics. The Fed’s holding up their side of the bargain, but it takes both monetary and fiscal policy. Over at WaPo. The recent dust-up… Read more

OTE welcomes Pope Francis to DC and points out that “pope” spelled backwards is…

September 21st, 2015

…EPOP, or the employment-to-population ratio. More on that interesting connection in a moment. As I’ve written before, this Pontiff has been a stalwart for economic and environmental justice, speaking out specifically against austerity, and calling upon governments to “relaunch the labor market.” Well, I figure that since he gets a lot of this from my… Read more