- 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: Fiscal rules
That strange feeling of Déjà Vu: EU’s New Fiscal Compact
The new “Fiscal Compact” of the European Union is now ready to be signed. The purpose of the compact is to strengthen fiscal discipline among member countries (at least those who sign). The desire for enhancing discipline is obviously triggered by the debt crises felt by many EU countries recently. It is, however, still an open question to which extent the current debt performance is due to the global recession or prior fiscal indiscipline. As debt is cumulated deficits it is hard to separate these matters. As seen in the data, it is nevertheless clear that the crisis itself is associated with a substantial worsening of the average government deficit … Continue reading
Posted in Economics, Macroeconomics Tagged Euro, European Union, Fiscal compact, Fiscal rules, Stability and Growth Pact, Treaty on European Union Comments Off on That strange feeling of Déjà Vu: EU’s New Fiscal Compact
Draghi cuts and markets flip
Last week marked the second time where new President of the European Central Bank, Mario Draghi, governed an interest-rate decision for the Euro area. And for the second time it was and interest rate cut, implying an interest rate on main refinancing operations of 1.00% effective from 14 December. This ties the lowest level in Euro history, which was effective from 13 May 2009 to 13 April 2011. So, loosely speaking the interest rate is back at the financial crisis level. The decision makes sense given the economic outlook for the Euro area: A continuation of high unemployment and absence of inflationary pressures. It was, however, not a unanimous decision. … Continue reading