The Grumpy Economist

An essay on substack ; interpreting US inflation history via fiscal theory, prepared as comments for a session at the AEA meetings. 

This is a second post from a set of comments I gave at the NBER Asset Pricing conference in early November at Stanford.   Conference agenda ...

This post is from a set of comments I gave at the NBER Asset Pricing conference in early November at Stanford.   Conference agenda here . M...

  Just in time for the holidays, the perfect stocking stuffer -- if you have really big stockings. 30% discount on Fiscal Theory of the Pric...

Today, I'll add an entry to my occasional reviews of interesting academic papers. The paper: " Price Level and Inflation Dynamics...

This post takes up from two previous posts ( part 1 ;   part 2 ), asking just what do we (we economists) really know about how interest ra...

(This post continues part 1 which just looked at the data. Part 3 on theory is here )  When the Fed raises interest rates, how does inflat...

An a recent WSJ oped (which I will post here when 30 days have passed), I criticized the "supply shock" theory of our current inf...

(This post is an interlude between history and VARs)  Jesper Rangvid has a great blog post today on different inflation measures.  CPI and ...

By the standards of mainstream media coverage of technical economics, Peter Coy's coverage of HANK (Heterogeneous Agent New Keynesian) m...

Peder Beck-Friis and Richard Clarida at Pimco have a nice blog post on the recent inflation, including the above graph.  I have wondered, ...

Two attacks, and one defense, of classical liberal ideas appeared over the weekend. " War and Pandemic Highlight Shortcomings of the Fr...

Kevin Warsh has a nice WSJ oped warning of financial problems to come.  The major point of this essay: "countercyclical capital buffe...

I've been reading a lot of macro lately. In part, I'm just catching up from a few years of book writing. In part,  I want to under...

The Biden Administration is proposing major changes to cost-benefit analysis used in all regulations. The preamble here , and the full tex...

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

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...

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...

Friday May 12 we had the annual Hoover monetary policy conference. Hoover twitter stream here .  Conference webpage and schedule here  (upda...

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...