- Are ECB’s Greek bond purchases really irrelevant for the private sector?
- Is Greg getting bailed out by his rich uncle?
- Taylor legislation? Rules versus discretion misunderstood
- Partisanship and dismal economics blogging
- Chris Auld’s 18 signs
- The case for negative nominal interest rates and how to attain them: Revisiting the Buiter-Eisler approach
- No Negative Rates in Euroland (yet)
- Reinhart and Rogoff’s coding mistake: Much Ado About Nothing
What is going on here?American Economic Review Ben Bernanke Central bank governance Central bank independence central banks Christopher A. Sims debt crisis debt rating Economic schools economists' joke Euro European Central Bank European Union Federal funds rate Federal Open Market Commitee Federal Reserve Financial crisis Fiscal multiplier Fiscal stimulus forecasting Gavin Davies Government bonds inflation Inflation targeting interest rate Jean Claude Trichet John B. Taylor John Cochrane John Maynard Keynes Lars Svensson Mario Draghi Michael Woodford Milton Friedman N. Gregory Mankiw New-Keynesian models Nobel Prize Paul Krugman policy rules Public debt Quantitative easing Ramsey model Ricardian Equivalence Securities Markets Programme seigniorage Standard & Poor's Taylor rule Thomas J. Sargent Treaty on European Union Unconventional monetary policy United States
Other economics/ economists' blogs:(Needless to say, I do not necessarily agree with them or endorse them.)
Tag Archives: Euro
Today, the European Central Bank decided to keep its policy rate unchanged. I am not particularly surprised. In recent empirical work, Morten Aastrup and I estimate what determines the ECB’s interest-rate changes. It turns out that inflation or expectations thereof play no role. Instead, changes in economic activity as measured by Euro-area unemployment is an important determinant. Americans who cling to the idea that good monetary policymaking is characterized by an adherence to a variant of John B. Taylor’s rule that carries his name, may find this surprising. However, consistent with modern New-Keynesian theory (cf. Michael Woodford’s Interest and Prices, Princeton University Press, 2003), a credible anti-inflationary central bank can … Continue reading