The Grumpy Economist

"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...

So if the Fed raises interest rates, how much and how soon will that help inflation? For another project , I went back to Valerie Ramey...

I read the draft Supreme Court decision on Roe v. Wade . I was surprised that the draft so quickly prejudges economic liberty, which I thoug...

Fiscal Histories  is a new paper, a second try at an essay on fiscal theory for the Journal of Economic Perspectives.  The basic concept ...