The Grumpy Economist

John Cochrane's blog

Thursday, May 25, 2023

Work requirements

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The debate over work requirements for social programs is hot and heavy. I'll chime in there as I don't think even the Wall Street Jo...
15 comments:
Wednesday, May 24, 2023

Hoover Monetary Policy Conference Videos

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The videos from the Hoover Monetary Policy Conference are now online here .  See my previous post for a summary of the conference.  The big ...
4 comments:

Bradley Prize speech, video, and thanks

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The videos and speeches of the Bradley prize winners are up. My video here  (Grumpy in a tux!), also the speech which I reproduce below. All...
4 comments:

Walter Russell Mead and Grapes of Wrath Episode II

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Walter Russell Mead has a nice essay in Tablet on California. This excerpt struck me. You too were probably dragged through "Grapes o...
8 comments:
Wednesday, May 17, 2023

Bob Lucas and his papers

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My first post described a few anecdotes about what a warm person Bob Lucas was, and such a great colleague. Here I describe a little bit of...
20 comments:
Tuesday, May 16, 2023

Hoover Monetary Policy Conference

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Friday May 12 we had the annual Hoover monetary policy conference. Hoover twitter stream here .  Conference webpage and schedule here  (upda...
4 comments:
Monday, May 15, 2023

Bob Lucas

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I just got the sad news that Bob Lucas has passed away. He was truly a giant among economists, and a wonderful warm person.  I will only pas...
22 comments:

FTPL 50% off sale

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Princeton University Press has a 50% off sale on all books, including the (overpriced, sorry) Fiscal Theory of the Price Level .  The splash...
2 comments:
Saturday, May 13, 2023

Missing mortgage contract innovation

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From WSJ   "Many Americans who want to move are trapped in their homes—locked in by low interest rates they can’t afford to give up.  T...
28 comments:
Thursday, April 20, 2023

How do interest rates lower inflation?

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  A few days ago I gave a short talk on the subject. I was partly inspired by a little comment made at a seminar, roughly "of course we...
32 comments:
Wednesday, March 15, 2023

On marking to market and risk management

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Two more thoughts: 1) In the SBV debacle, many of my colleagues and friends jump to the conclusion, we should just mark all assets to market...
38 comments:

Small bank thoughts

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 Three small thoughts.  1) There is much commentary that bank troubles will interfere with the Fed's plan to lower inflation by raising ...
10 comments:
Tuesday, March 14, 2023

How many banks are in danger?

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With amazing speed and impeccable timing, Erica Jiang, Gregor Matvos, Tomasz Piskorski, and Amit Seru analyze how exposed the rest of the b...
31 comments:
Saturday, March 11, 2023

Silicon Valley Bank Blinders

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The Silicon Valley Bank failure strikes me as a colossal failure of bank regulation, and instructive on how rotten the whole edifice is. I w...
73 comments:
Saturday, March 4, 2023

Economic Journal Home Bias

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Home Bias in Economics Journals  is an interesting new paper by Dirk Bethmann, Felix Bransch, Michael Kvasnicka, and Abdolkarim Sadrieh (via...
8 comments:
Thursday, March 2, 2023

Fair tax full text

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From the  Wall Street Journal Feb 2. After 30 days I can post full text.  A Consumption Tax Is the Shock Our Broken System Needs Something ...
24 comments:

Lessons from Sargent and Leeper

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At the AEI fiscal theory event last Tuesday Tom Sargent and Eric Leeper made some key points about the current situation, with reference to...
13 comments:
Tuesday, February 28, 2023

FTPL Videos

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 Two great videos just dropped related to fiscal theory.  The first is an "Uncommon Knowledge" interview with Peter Robinson. We s...
13 comments:
Friday, February 24, 2023

Mulligan and the demand for opioids

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This is another post from an Economic Policy Working Group meeting at Hoover, in which simple undergraduate supply and demand analysis, crea...
9 comments:

Short and long run minimum wage

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On Wednesday, Erik Hurst presented a lovely paper, " The Distributional Impact of the Minimum Wage in the Short and Long Run, " w...
17 comments:
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About Me and This Blog

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John H. Cochrane
This is a blog of news, views, and commentary, from a humorous free-market point of view. After one too many rants at the dinner table, my kids called me "the grumpy economist," and hence this blog and its title. In real life I'm a Senior Fellow of the Hoover Institution at Stanford. I was formerly a professor at the University of Chicago Booth School of Business. I'm also an adjunct scholar of the Cato Institute. I'm not really grumpy by the way! Any opinions I express are mine alone and do not represent the position of the Hoover Institution or Stanford University.
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