The Grumpy Economist

I was for Fixit, not Brexit. The EU is a great idea. They put together articles of confederation, empowering an out of control bureaucracy. ...

Phil Gramm and John Early have a new WSJ oped, based on their smashing new book . Both are based on an astounding fact: The numbers used by...

Interest rate neutrality is easy to state in equations but hard to digest intuitively.  The equation says that interest rate = real rate p...

A while ago, Google turned off the ability to receive the Grumpy Economist, and all the other blogger blogs, by email. I have now figured ou...

Two era-defining articles popped up in today's Wall Street Journal.  In " the coming global crisis of climate policy, " Joseph...

Expectations and the Neutrality of Interest Rates  is a new paper. It's an essay, really, expanding on a lunch talk I was privileged to ...

  This beautiful graph comes from calculatedriskblog.com . (Courtesy Andy Atkeson who used it in a nice discussion of a great paper by Ivan ...

"Nobody Knows How Interest Rates Affect Inflation" is a new oped in the  Wall Street Journal   August 25. (Full version will be po...

Most legislation or regulation that spends hundreds of billions of dollars aimed at a purpose is extensively analyzed or scored to that purp...

We often summarize that the fiscal theory is a theory of the price level: The price level adjusts so that the real value of government deb...

In the last Goodfellows , we batted around the question of how China would respond to Nancy Pelosi's visit.  In this context, news just ...

A few Stanford colleagues got together to talk about inflation, and that gave me an incentive to summarize recent writings as compactly as p...

The Fed Cannot Cure Inflation by Itself , Wall Street Journal June 28 2022 This is the original version, before WSJ edits. They made it shor...

I did a podcast on health policy with  Daniel Belkin and Mitch Belkin at the External Medicine Podcast . video embedded above, audio at the ...

Two readings from last week, in the self-destruction of American academia and other institutions.  *********** The Nature of the Beast Bari ...

A group of economists recently posted a petition to the American Economic Association, that it move its annual meetings away from New Orle...