The Grumpy Economist

Raise interest rates to raise inflation? Lower interest rates to lower inflation? It's not that simple. A correspondent from an emerg...

A sharp colleague recently pushed me to write down a really simple model that can clarify the intuition of how raising interest rates migh...

Two news items cropped up this week on the general topic of central banks as emergent central planers.: a nice WSJ  editorial by James Macki...

The Habit Habit. This is an essay expanding slightly on a talk I gave at the University of Melbourne's excellent "Finance Down Un...

Larry Summers writes an eloquent FT column " A world stumped by stubbornly low inflation " Market measures of inflation expectat...

Marginal Revolution and the Wall Street Journal both pass on a great quote from Warren Buffett: It’s understandable that the sponsor of ...

The critiques of Gerald Friedman's analysis of the Sanders economic plan   continue. The latest and most detailed and careful so far is ...

I've devoted most of my monetary economics research agenda to the Fiscal Theory of the Price Level in the last two decades ( collection ...

An interview for the Greek Reporter , in English, perhaps cheering the like-minded and sure to infuriate some conventional wisdom. I agree...

I was listening to NPR this morning over coffee, and nearly spilled it. Host Steve Inskeep was interviewing Mark Surman , Mozilla founder, o...

Neel Kashkari, the new president of the Minneapolis Fed, is making a splash with a speech about too big to fail , and the need for a deeper ...

And just as I was getting all weepy about how great and a-political, obejective, non-partisan and all that the CEA is, along comes an open ...

The Council of Economic Advisers has released a history of the CEA on its' 70th anniversary, as   Chapter 7 of the  Economic Report of t...

I usually try to steer away from Presidential politics, and especially from commentators' habit of analyzing character. But last week...

The Libertarian Case for Bernie Sanders , from Will Wilkinson at the Niskanen Center. Yes, Denmark scores much above the US on ease of doing...

Allan Meltzer and John Taylor organized a Statement on Policy Rules Legislation  signed by quite a few famous economists. John's blog ex...

PBS covers Bob Gordon's The Rise and Fall of American Growth . [Embedded video. These aren't picked up when other sources pick...

Source: Wall Street Journal An Oped at the Wall Street Journal, " Here's what genuine tax reform looks like ." I posted th...

Gerard MacDonell has a lovely noahpinion guest post "So Much for the QE Stimulus" (HT Marginal Revolution ). Some good bits here, ...

My post " Secret data " on replication provoked a lot of comment and emails,  more reflection, and some additional links. This i...