Scott Sumner

Scott Sumner: Archives

Scott Sumner

Scott Sumner blogs on EconLog after starting as Guest Blogger in 2014. His home site is The Money Illusion.


EconLog Articles by Scott Sumner

Sumnerian luck and monetary reform
2016/06/25
Permanent Link | Comments (10)
Brexit is not about Britain
2016/06/24
Permanent Link | Comments (30)
Bob Murphy reviews The Midas Paradox
2016/06/23
Permanent Link | Comments (10)
Was Chernobyl the best thing that ever happened to Europe's environment?
2016/06/21
Permanent Link | Comments (36)
Right wing doesn't mean pro-free market
2016/06/19
Permanent Link | Comments (14)
Just how influential is the USA?
2016/06/17
Permanent Link | Comments (24)
Three ways to do a UBI: None are feasible
2016/06/16
Permanent Link | Comments (28)
Neoliberalism: There is no alternative
2016/06/15
Permanent Link | Comments (23)
Reply to Jerry O'Driscoll
2016/06/12
Permanent Link | Comments (11)
The Left, Greece, and The Big Lie
2016/06/11
Permanent Link | Comments (19)
Some initial thoughts on banking reform
2016/06/09
Permanent Link | Comments (16)
Does QE reduce the public debt burden?
2016/06/08
Permanent Link | Comments (26)
Why are NYT editorials so staggeringly bad?
2016/06/06
Permanent Link | Comments (20)
Which direction for macro?
2016/06/04
Permanent Link | Comments (26)
Slippery slope? Let's hope so
2016/06/03
Permanent Link | Comments (6)
The infrastructure illusion
2016/06/01
Permanent Link | Comments (14)
It's hard to raise a lot of tax revenue
2016/05/31
Permanent Link | Comments (25)
Random thoughts on globalization
2016/05/28
Permanent Link | Comments (24)
Why Bryan Caplan almost always wins his bets
2016/05/26
Permanent Link | Comments (31)
You're not special
2016/05/25
Permanent Link | Comments (28)
Why most regulations are harmful
2016/05/23
Permanent Link | Comments (45)
The rich heart of Europe
2016/05/21
Permanent Link | Comments (42)
What do "experts" say about trade?
2016/05/20
Permanent Link | Comments (16)
Did Russia avoid high unemployment with NGDP targeting?
2016/05/18
Permanent Link | Comments (17)
The alt-right's demographic nightmare
2016/05/16
Permanent Link | Comments (48)
Don't solve problems, stop causing them
2016/05/14
Permanent Link | Comments (18)
Hillary Clinton on Fed structure
2016/05/13
Permanent Link | Comments (11)
The invisible hyperinflation monster (it's real)
2016/05/12
Permanent Link | Comments (8)
Was Hawtrey more Keynesian than Keynes?
2016/05/11
Permanent Link | Comments (2)
Two Nobel Prize winners, 18 years apart
2016/05/08
Permanent Link | Comments (7)
Against Brexit
2016/05/06
Permanent Link | Comments (31)
The Keynesian model is not a "big government" model
2016/05/04
Permanent Link | Comments (19)
Lucas on Keynes and "spending flows"
2016/05/03
Permanent Link | Comments (5)
Japan's catastrophic yen-quake
2016/05/02
Permanent Link | Comments (15)
A new study supports The Midas Paradox
2016/04/30
Permanent Link | Comments (6)
Once again, the Fed was wrong
2016/04/28
Permanent Link | Comments (20)
Does Tesla offer an end run around bad regulations?
2016/04/27
Permanent Link | Comments (6)
Economic theory, but only when it's convenient
2016/04/26
Permanent Link | Comments (19)
Market monetarism and market macroeconomics
2016/04/24
Permanent Link | Comments (16)
Market urbanism in Houston
2016/04/23
Permanent Link | Comments (15)
Keep it simple, and pay attention to the key stylized facts
2016/04/21
Permanent Link | Comments (4)
It's NGDP growth expectations that matter, not inflation expectations
2016/04/20
Permanent Link | Comments (3)
What's the matter with western Virginia?
2016/04/19
Permanent Link | Comments (11)
A tale of two city-states
2016/04/17
Permanent Link | Comments (14)
Forget forecasting, let's first shoot for nowcasting
2016/04/16
Permanent Link | Comments (7)
How government worsened inequality by ignoring the EMH
2016/04/15
Permanent Link | Comments (7)
Barbara Anderson, RIP
2016/04/14
Permanent Link | Comments (3)
Please don't pay me to research tax loopholes
2016/04/13
Permanent Link | Comments (19)
The "cost" of sloppy thinking
2016/04/12
Permanent Link | Comments (14)
David Beckworth has a new podcast series
2016/04/11
Permanent Link | Comments (5)
Does President Obama have wealth stashed away in one of the world's most secretive tax havens?
2016/04/10
Permanent Link | Comments (5)
How to tell if you are a modern progressive
2016/04/07
Permanent Link | Comments (25)
Nationalists are not utilitarians
2016/04/07
Permanent Link | Comments (16)
The First Great Moderation
2016/04/06
Permanent Link | Comments (5)
Grossman on NGDP shocks as policy indicators
2016/04/04
Permanent Link | Comments (5)
Extreme outliers: How meaningful are they?
2016/04/02
Permanent Link | Comments (18)
Lake Wobegon Keynesians
2016/03/31
Permanent Link | Comments (14)
A little bit pregnant
2016/03/29
Permanent Link | Comments (20)
Bernanke on monetary policy options
2016/03/27
Permanent Link | Comments (12)
Don't try to normalize interest rates
2016/03/25
Permanent Link | Comments (7)
Does anything matter? (And what would Pascal do?)
2016/03/24
Permanent Link | Comments (27)
Don't root for (or against) countries, policies, models, etc.
2016/03/22
Permanent Link | Comments (8)
Is economics more "scientific" than science?
2016/03/20
Permanent Link | Comments (14)
Socialism is harder than it looks
2016/03/18
Permanent Link | Comments (38)
Kocherlakota on the inflation outlook
2016/03/17
Permanent Link | Comments (6)
Switzerland's Vollgeld Initiative
2016/03/16
Permanent Link | Comments (14)
The media's blind spot: Negative IOR
2016/03/15
Permanent Link | Comments (6)
Two dubious ideas
2016/03/14
Permanent Link | Comments (9)
Why don't we see big NGDP crashes any longer?
2016/03/13
Permanent Link | Comments (8)
The year of thinking dangerously
2016/03/10
Permanent Link | Comments (36)
Playing the Trump card: Why do economists enjoy trashing their profession?
2016/03/09
Permanent Link | Comments (41)
The Emperor repeatedly forgets his clothes
2016/03/07
Permanent Link | Comments (17)
Krugman's confusing argument for more infrastructure spending
2016/03/05
Permanent Link | Comments (18)
Is China trade inflationary?
2016/03/04
Permanent Link | Comments (10)
Warren Buffett, out of sample
2016/03/02
Permanent Link | Comments (29)
Autor, Dorn, and Hanson on the China Shock
2016/02/26
Permanent Link | Comments (34)
If you believe in bubbles, then why are you a libertarian?
2016/02/25
Permanent Link | Comments (40)
EMH update
2016/02/24
Permanent Link | Comments (23)
Congratulations to the Free State Movement
2016/02/22
Permanent Link | Comments (9)
Drug overdose deaths: It's not just economics
2016/02/19
Permanent Link | Comments (13)
Real and monetary shocks, a numerical example
2016/02/18
Permanent Link | Comments (14)
Interest rate pessimism
2016/02/16
Permanent Link | Comments (15)
Yudkowsky's insight, Newcomb's Paradox, "air pockets", and long and variable leads
2016/02/14
Permanent Link | Comments (29)
Correlation and causation
2016/02/12
Permanent Link | Comments (10)
It takes a regime change
2016/02/11
Permanent Link | Comments (7)
Does Paul Krugman believe that markets are bilingual?
2016/02/10
Permanent Link | Comments (2)
Beckworth and Ponnuru on 2008
2016/02/10
Permanent Link | Comments (8)
Storytelling
2016/02/07
Permanent Link | Comments (13)
James Bullard on Neo-Fisherian economics
2016/02/05
Permanent Link | Comments (5)
Thank God economists cannot predict recessions
2016/02/03
Permanent Link | Comments (18)
Why doesn't a move toward easier money always lead to higher long term bond yields?
2016/02/01
Permanent Link | Comments (10)
Influence, target, control
2016/01/29
Permanent Link | Comments (15)
Some thoughts on utilitarianism and individual rights
2016/01/28
Permanent Link | Comments (26)
Paul Krugman on French economic policies
2016/01/26
Permanent Link | Comments (12)
Keynesian economics and cognitive illusions
2016/01/23
Permanent Link | Comments (18)
Kling and Johnson review The Midas Paradox
2016/01/22
Permanent Link | Comments (4)
Larry Summers and asset prices
2016/01/21
Permanent Link | Comments (15)
Hey Fed, stop hanging around the Combat Zone
2016/01/20
Permanent Link | Comments (4)
Behavioral economists aren't as smart as they think
2016/01/18
Permanent Link | Comments (30)
China is rapidly shifting to a service economy
2016/01/17
Permanent Link | Comments (11)
Am I an ideologue?
2016/01/16
Permanent Link | Comments (11)
We never seem to learn
2016/01/15
Permanent Link | Comments (16)
The European right and the GOP
2016/01/15
Permanent Link | Comments (22)
China's always been poorly governed
2016/01/13
Permanent Link | Comments (11)
Sympathy for the devil?
2016/01/11
Permanent Link | Comments (21)
What would an IS shock look like?
2016/01/09
Permanent Link | Comments (3)
Passing the buck
2016/01/08
Permanent Link | Comments (10)
The China currency mystery
2016/01/07
Permanent Link | Comments (24)
Who's afraid of level targeting?
2016/01/06
Permanent Link | Comments (11)
The day of reckoning arrives for global socialism
2016/01/04
Permanent Link | Comments (32)
NGDP or NGO?
2016/01/02
Permanent Link | Comments (4)
Robert Hetzel explains why the real problem was nominal
2016/01/01
Permanent Link | Comments (12)
There's no taste for accounting
2015/12/30
Permanent Link | Comments (1)
The art of the possible
2015/12/28
Permanent Link | Comments (28)
Economists who lack an imagination
2015/12/25
Permanent Link | Comments (54)
The Fed doesn't have a magic wand
2015/12/24
Permanent Link | Comments (9)
NeoFisherian recessions, with and without the confidence fairy
2015/12/22
Permanent Link | Comments (8)
Not all depressions are due to NGDP shortfalls
2015/12/19
Permanent Link | Comments (15)
Libertarians have nowhere to turn
2015/12/18
Permanent Link | Comments (21)
Everything is back to being the same again
2015/12/16
Permanent Link | Comments (9)
Intellectual regress
2015/12/15
Permanent Link | Comments (10)
Mood affiliation and the success of BOJ policy
2015/12/13
Permanent Link | Comments (9)
NGDP targeting is not "easy money"
2015/12/11
Permanent Link | Comments (6)
Word games: Krugman's odd definition of tight money
2015/12/08
Permanent Link | Comments (24)
Tim Fernholz on Ted Cruz's monetary policy views
2015/12/06
Permanent Link | Comments (10)
Is The Midas Paradox monetarist or anti-monetarist?
2015/12/05
Permanent Link | Comments (5)
Paging Frederic Mishkin
2015/12/03
Permanent Link | Comments (7)
Paul Krugman on inequality
2015/12/03
Permanent Link | Comments (23)
The Midas Paradox
2015/12/01
Permanent Link | Comments (12)
The new left
2015/11/29
Permanent Link | Comments (20)
Paul Krugman on jobs and GDP
2015/11/27
Permanent Link | Comments (6)
Ram on overconfidence
2015/11/26
Permanent Link | Comments (28)
Always double check your claims with the AS/AD model
2015/11/25
Permanent Link | Comments (5)
The Fed is above the law
2015/11/24
Permanent Link | Comments (14)
What if there is no zero bound problem?
2015/11/21
Permanent Link | Comments (12)
Wage stickiness as a macro problem
2015/11/20
Permanent Link | Comments (21)
Is the Fed beginning to see the light?
2015/11/19
Permanent Link | Comments (9)
What does Ted Cruz know that most Ivy League economists don't know?
2015/11/17
Permanent Link | Comments (8)
My view of macro
2015/11/16
Permanent Link | Comments (13)
The ADA seems to have failed
2015/11/14
Permanent Link | Comments (27)
Bernanke on fiscal policy
2015/11/13
Permanent Link | Comments (5)
Could Gramm, Leach, Bliley (1999) have prevented the 2008 banking crisis
2015/11/11
Permanent Link | Comments (20)
Bernanke's Memoir: Initial impressions confirmed
2015/11/09
Permanent Link | Comments (8)
A review of DeLong's review of Bernanke
2015/11/07
Permanent Link | Comments (20)
100% money?
2015/11/06
Permanent Link | Comments (18)
Arnold Kling on "Sumnernomics"
2015/11/04
Permanent Link | Comments (11)
There's nothing natural about the natural rate of interest
2015/11/02
Permanent Link | Comments (23)
A theory of house temperatures
2015/10/31
Permanent Link | Comments (16)
"In retrospect, that decision was certainly a mistake"
2015/10/29
Permanent Link | Comments (17)
Should the Fed raise rates? Will the Fed raise rates?
2015/10/27
Permanent Link | Comments (15)
Delaying the crash
2015/10/25
Permanent Link | Comments (14)
How I think
2015/10/23
Permanent Link | Comments (22)
Japan needs austerity, not fiscal stimulus
2015/10/21
Permanent Link | Comments (8)
The libertarian coast
2015/10/20
Permanent Link | Comments (12)
Reply to Arnold Kling
2015/10/19
Permanent Link | Comments (10)
Bernanke's memoir: First impressions
2015/10/18
Permanent Link | Comments (11)
Market monetarism is not (primarily) about NGDP targeting
2015/10/17
Permanent Link | Comments (12)
Thanks Texas
2015/10/16
Permanent Link | Comments (21)
More really good news
2015/10/15
Permanent Link | Comments (22)
Reply to Kevin Drum
2015/10/15
Permanent Link | Comments (21)
It's hard to teach a central bank new tricks
2015/10/14
Permanent Link | Comments (7)
Market monetarism continues to make progress
2015/10/12
Permanent Link | Comments (7)
Arnold Kling on the Fiscal Theory of the Price Level
2015/10/10
Permanent Link | Comments (16)
Yes, a strong dollar matters; but why?
2015/10/08
Permanent Link | Comments (8)
Everything's endogenous
2015/10/07
Permanent Link | Comments (2)
The Fed relies on a model that only works when its policy fails
2015/10/05
Permanent Link | Comments (10)
Banks played a major role in the Great Depression
2015/10/04
Permanent Link | Comments (6)
When the Fed ignores the market
2015/10/03
Permanent Link | Comments (11)
Missing the big picture
2015/10/02
Permanent Link | Comments (27)
Please stop talking about banking
2015/09/30
Permanent Link | Comments (32)
Concrete steps for Mr. Cochrane
2015/09/29
Permanent Link | Comments (13)
About those wacky libertarians
2015/09/28
Permanent Link | Comments (44)
Our bizarre system of taxing capital
2015/09/26
Permanent Link | Comments (32)
Japan adopts an NGDP target
2015/09/25
Permanent Link | Comments (10)
The Wicksellian Natural Rate of Interest
2015/09/24
Permanent Link | Comments (12)
Money is fungible
2015/09/23
Permanent Link | Comments (17)
Peering through the wrong end of the telescope?
2015/09/22
Permanent Link | Comments (3)
The future is soon
2015/09/21
Permanent Link | Comments (9)
Central banks target inflation
2015/09/20
Permanent Link | Comments (14)
Switzerland
2015/09/19
Permanent Link | Comments (26)
Keynesianism and market monetarism
2015/09/18
Permanent Link | Comments (21)
What makes you think Li knows the truth?
2015/09/17
Permanent Link | Comments (9)
Asking the wrong question
2015/09/15
Permanent Link | Comments (10)
Who benefits from a wage subsidy?
2015/09/14
Permanent Link | Comments (24)
Did the copper SOE help Chile develop?
2015/09/13
Permanent Link | Comments (9)
How the subprime crisis morphed into the Great Recession
2015/09/12
Permanent Link | Comments (19)
Does the impact of Keynesian stimulus depend on what we call it?
2015/09/10
Permanent Link | Comments (41)
Sticky wage model test: The results are in
2015/09/09
Permanent Link | Comments (12)
Does the Fed need guardrails? Should they want guardrails?
2015/09/06
Permanent Link | Comments (14)
Do we really want to control health care costs?
2015/09/04
Permanent Link | Comments (18)
Is the economy becoming less interest sensitive? And does it matter?
2015/09/03
Permanent Link | Comments (10)
Markets are self-aware
2015/09/02
Permanent Link | Comments (7)
Pseudo-recessions and actual recessions
2015/09/01
Permanent Link | Comments (10)
Tight money leads to lower interest rates
2015/08/31
Permanent Link | Comments (5)
Asian immigration will make America more unequal, and that's a good thing
2015/08/30
Permanent Link | Comments (12)
Recessions often begin before the thing that caused them occurs
2015/08/29
Permanent Link | Comments (16)
Beyond victims and villains
2015/08/28
Permanent Link | Comments (14)
Confirmation bias?
2015/08/27
Permanent Link | Comments (24)
Does a measly quarter point matter?
2015/08/26
Permanent Link | Comments (14)
Why bubbles are so hard to spot
2015/08/25
Permanent Link | Comments (8)
How bad government policies make us meaner
2015/08/25
Permanent Link | Comments (11)
Kelly Evans on short and long term interest rates
2015/08/24
Permanent Link | Comments (5)
It's worse than it looks
2015/08/24
Permanent Link | Comments (13)
More on levels vs. growth rates
2015/08/21
Permanent Link | Comments (20)
Policy affects levels, not growth rates (except in transition)
2015/08/20
Permanent Link | Comments (19)
Is Europe becoming more like the US?
2015/08/17
Permanent Link | Comments (12)
Divine coincidence?
2015/08/15
Permanent Link | Comments (14)
Michael Darda on Alan Blinder
2015/08/14
Permanent Link | Comments (5)
How shall we define 'liberal'?
2015/08/13
Permanent Link | Comments (24)
Why are so many currencies suddenly appreciating all over the world?
2015/08/12
Permanent Link | Comments (7)
Was China's devaluation a beggar-thy-neighbor policy?
2015/08/11
Permanent Link | Comments (14)
Free the yuan
2015/08/10
Permanent Link | Comments (4)
Don't apply AD to long run growth/distribution issues
2015/08/09
Permanent Link | Comments (17)
Shun the paper, not the person
2015/08/08
Permanent Link | Comments (24)
NGDP futures targeting means never having to say you're sorry
2015/08/06
Permanent Link | Comments (8)
Dennis Hastert and Colorado pot dealers
2015/08/05
Permanent Link | Comments (21)
Is the rise of utilitarianism unstoppable?
2015/08/04
Permanent Link | Comments (37)
China: The real problem is nominal
2015/08/02
Permanent Link | Comments (12)
An even greater stagnation
2015/07/30
Permanent Link | Comments (25)
Predicting failure
2015/07/28
Permanent Link | Comments (6)
Race and progressivism
2015/07/27
Permanent Link | Comments (36)
Paul Krugman on the minimum wage
2015/07/23
Permanent Link | Comments (37)
Government brings out the worst in us
2015/07/19
Permanent Link | Comments (45)
Slate.com's overconfidence was entirely predictable
2015/07/17
Permanent Link | Comments (15)
Weak currencies don't cause trade surpluses
2015/07/16
Permanent Link | Comments (18)
Rashomon at the Financial Times
2015/07/14
Permanent Link | Comments (27)
Paul Krugman on Greece and Germany
2015/07/13
Permanent Link | Comments (18)
Why is Greece such an economic success?
2015/07/11
Permanent Link | Comments (27)
Would NGDP targeting lead to excessive inflation?
2015/07/09
Permanent Link | Comments (15)
Britain's new minimum wage: Is there a hidden agenda?
2015/07/08
Permanent Link | Comments (13)
Raising rates tightens money, but isn't (necessarily) tight money
2015/07/07
Permanent Link | Comments (20)
Greece: What are the markets telling us?
2015/07/05
Permanent Link | Comments (18)
Does Germany "care" about Greece more than America "cares" about Puerto Rico?
2015/07/03
Permanent Link | Comments (14)
The Fed shouldn't reason from a quantity change
2015/07/02
Permanent Link | Comments (4)
Why I'm a supply and demand-sider
2015/07/01
Permanent Link | Comments (17)
Macroeconomics in small economies
2015/06/30
Permanent Link | Comments (14)
Europe's soft underbelly
2015/06/29
Permanent Link | Comments (32)
Why can't we have nice things?
2015/06/28
Permanent Link | Comments (27)
1937 and 2013
2015/06/26
Permanent Link | Comments (11)
I don't favor an interventionist monetary policy to fix recessions
2015/06/24
Permanent Link | Comments (19)
The "other things"
2015/06/23
Permanent Link | Comments (20)
A bit freer today than yesterday
2015/06/22
Permanent Link | Comments (11)
Japan's 2014 tax increase worked; they should do it again
2015/06/21
Permanent Link | Comments (12)
Could a well designed euro have worked?
2015/06/20
Permanent Link | Comments (13)
The Democrats move left
2015/06/19
Permanent Link | Comments (14)
Russ Roberts vs. Simon Wren-Lewis
2015/06/18
Permanent Link | Comments (32)
Kevin Drum's Third Law is wrong
2015/06/16
Permanent Link | Comments (7)
Matt Yglesias on environmental impact regulations
2015/06/15
Permanent Link | Comments (26)
Voters in successful neoliberal economies have no interest in Pikettynomics
2015/06/14
Permanent Link | Comments (18)
Interpersonal utility comparisons are unavoidable
2015/06/13
Permanent Link | Comments (34)
How egalitarianism failed Japan
2015/06/12
Permanent Link | Comments (10)
Market monetarism in Iceland?
2015/06/10
Permanent Link | Comments (14)
Second best policy arguments
2015/06/09
Permanent Link | Comments (16)
Peter Pan in Japan
2015/06/08
Permanent Link | Comments (8)
The world's three smallest macro models
2015/06/07
Permanent Link | Comments (17)
The (white) kids are alright
2015/06/06
Permanent Link | Comments (23)
Reply to Austan Goolsbee
2015/06/03
Permanent Link | Comments (7)
Larry Summers on NGDP targeting
2015/06/03
Permanent Link | Comments (6)
The Fed is not doing its job
2015/06/02
Permanent Link | Comments (9)
Why are interest expenses tax deductible?
2015/06/01
Permanent Link | Comments (43)
"Forcing" the GOP to accept needles
2015/05/31
Permanent Link | Comments (20)
Looking for AD in all the wrong places
2015/05/31
Permanent Link | Comments (6)
What went wrong in 2008?
2015/05/29
Permanent Link | Comments (16)
Greece and Detroit
2015/05/28
Permanent Link | Comments (12)
Questions that don't get asked very often
2015/05/25
Permanent Link | Comments (23)
Apple's open market purchases
2015/05/22
Permanent Link | Comments (11)
There is no such thing as "global aggregate demand"
2015/05/21
Permanent Link | Comments (19)
A consumption tax is a wealth tax
2015/05/19
Permanent Link | Comments (34)
Shocking data on wealth inequality
2015/05/18
Permanent Link | Comments (23)
Pop macroeconomics in an era of unprecedented non-change
2015/05/16
Permanent Link | Comments (34)
Reallocation and growth
2015/05/14
Permanent Link | Comments (7)
Low hanging fruit and the inequality question
2015/05/13
Permanent Link | Comments (43)
Labor market blues
2015/05/10
Permanent Link | Comments (8)
Markets > Polls > GOP pundits
2015/05/08
Permanent Link | Comments (5)
There's no such thing as public opinion, example #421
2015/05/07
Permanent Link | Comments (17)
How would we know if we won the War on Poverty?
2015/05/06
Permanent Link | Comments (14)
Yes, falling oil prices were like a tax cut
2015/05/04
Permanent Link | Comments (6)
In 1987, the Fed prevented another Great Depression by doing nothing
2015/05/03
Permanent Link | Comments (14)
No, the public doesn't understand comparative advantage (or supply and demand)
2015/05/02
Permanent Link | Comments (33)
More evidence for a Great Stagnation
2015/05/01
Permanent Link | Comments (16)
Robots, committees, or markets?
2015/04/30
Permanent Link | Comments (6)
The problem with "shocks"
2015/04/29
Permanent Link | Comments (19)
EconTalk Extra
2015/04/27
Permanent Link | Comments (15)
Optimal mutual funds in a world of bubbles
2015/04/25
Permanent Link | Comments (22)
It's not a beauty pageant
2015/04/23
Permanent Link | Comments (14)
What does it mean to suggest that interest rates are "artificially low"?
2015/04/21
Permanent Link | Comments (13)
Substitute goods and reasoning from a price change
2015/04/20
Permanent Link | Comments (19)
Did the Fed cause the sub-prime boom?
2015/04/18
Permanent Link | Comments (22)
Congress sets the goals, the Fed sets the intermediate target
2015/04/16
Permanent Link | Comments (15)
Is the Fed allowed to create GDP prediction markets?
2015/04/15
Permanent Link | Comments (14)
The wrong way to fix Social Security
2015/04/14
Permanent Link | Comments (19)
There is no sticky wage puzzle
2015/04/12
Permanent Link | Comments (20)
Don't blame the workers
2015/04/11
Permanent Link | Comments (17)
Low interest rates do not call for more investment
2015/04/08
Permanent Link | Comments (14)
Using monetary policy to prevent financial instability
2015/04/07
Permanent Link | Comments (7)
Germany is "balanced", it's the rest of Europe (and the ECB) that are unbalanced
2015/04/04
Permanent Link | Comments (17)
Milton Friedman argued that the Great Depression occurred despite massive QE
2015/04/03
Permanent Link | Comments (11)
Is Larry Summers reasoning from a price change?
2015/04/01
Permanent Link | Comments (13)
Talking about Britain while talking about Singapore
2015/03/30
Permanent Link | Comments (6)
What's new since 1982?
2015/03/28
Permanent Link | Comments (18)
This Sick Capitalism ®
2015/03/25
Permanent Link | Comments (18)
Is Stanley Fischer too complacent?
2015/03/24
Permanent Link | Comments (13)
Hard Asia, Soft Europe
2015/03/23
Permanent Link | Comments (8)
The Fed: What's the minimum acceptable accountability?
2015/03/20
Permanent Link | Comments (9)
Brad DeLong on the "sell by date" of Krugmanomics
2015/03/18
Permanent Link | Comments (5)
Will the GOP once again opt for big government?
2015/03/17
Permanent Link | Comments (16)
What's the "sell by date" of Krugmanomics?
2015/03/16
Permanent Link | Comments (11)
Krugman's dangerous idea (It worked for me too!)
2015/03/13
Permanent Link | Comments (19)
Everyone needs to be accountable
2015/03/11
Permanent Link | Comments (16)
Two ways of thinking about economics
2015/03/09
Permanent Link | Comments (33)
Is the "inequality" issue a cover for something else?
2015/03/07
Permanent Link | Comments (13)
The bizarre way economists calculate real income
2015/03/04
Permanent Link | Comments (23)
The last New Keynesian left alive
2015/03/03
Permanent Link | Comments (9)
How interest rates matter, and how they don't
2015/03/01
Permanent Link | Comments (25)
Bryan Caplan's conventional views
2015/02/27
Permanent Link | Comments (17)
Mission creep
2015/02/26
Permanent Link | Comments (14)
Power is a residual
2015/02/25
Permanent Link | Comments (19)
Should America help corrupt officials hide wealth?
2015/02/21
Permanent Link | Comments (22)
The housing bubble: Perceptions and reality
2015/02/20
Permanent Link | Comments (31)
Inconvenient truths
2015/02/18
Permanent Link | Comments (25)
Reasoning from a price change, example #341
2015/02/16
Permanent Link | Comments (18)
There's no point in arguing over definitions
2015/02/14
Permanent Link | Comments (29)
Have an opinion about string theory? How about macroeconomics?
2015/02/13
Permanent Link | Comments (41)
The Wittgenstein test
2015/02/11
Permanent Link | Comments (23)
Experiments in a Guaranteed Annual Income
2015/02/09
Permanent Link | Comments (35)
Statist policies in China
2015/02/07
Permanent Link | Comments (10)
The new jobs figures and macro theory
2015/02/06
Permanent Link | Comments (10)
What's so funny?
2015/02/03
Permanent Link | Comments (29)
A few thoughts on Greece
2015/02/02
Permanent Link | Comments (24)
The CBO's forecast, with and without "austerity"
2015/01/30
Permanent Link | Comments (23)
Questions for Keynesians (Show me the data)
2015/01/28
Permanent Link | Comments (25)
Stone Age Economics
2015/01/27
Permanent Link | Comments (13)
Monetary offset: Reply to my critics
2015/01/25
Permanent Link | Comments (12)
The Keynesian shell game
2015/01/22
Permanent Link | Comments (42)
Ralph Hawtrey
2015/01/20
Permanent Link | Comments (11)
Exchange rate pegs are usually a bad idea
2015/01/19
Permanent Link | Comments (8)
Central banking in a negative seignorage world
2015/01/18
Permanent Link | Comments (7)
Monetary Policy: The more ambitious your goals the less hard you have to work
2015/01/17
Permanent Link | Comments (14)
What's wrong with macro?
2015/01/15
Permanent Link | Comments (16)
Reasoning from multiple price changes
2015/01/14
Permanent Link | Comments (14)
The implications of zero interest rates for monetary and fiscal stimulus
2015/01/13
Permanent Link | Comments (17)
It's all in EC101
2015/01/11
Permanent Link | Comments (18)
Simon Wren-Lewis on expansionary austerity
2015/01/09
Permanent Link | Comments (10)
Sympathy for the top quintile
2015/01/08
Permanent Link | Comments (14)
Are German schoolchildren taught about the 1929-32 deflation?
2015/01/07
Permanent Link | Comments (20)
Tax dodging and currency
2015/01/07
Permanent Link | Comments (6)
Be skeptical, be very skeptical
2015/01/05
Permanent Link | Comments (20)
A penny for our thoughtless society
2015/01/02
Permanent Link | Comments (20)
I don't believe you (you're a liar)
2014/12/30
Permanent Link | Comments (14)
So how's the economy doing this year?
2014/12/27
Permanent Link | Comments (11)
The French experiment: Laffer >>>>>>> Piketty
2014/12/24
Permanent Link | Comments (25)
Choosing the right tools
2014/12/22
Permanent Link | Comments (2)
Markets describe reality; models should explain market reactions
2014/12/20
Permanent Link | Comments (16)
Central banks should do their job
2014/12/17
Permanent Link | Comments (4)
The ECB: Is it a hopeless case?
2014/12/16
Permanent Link | Comments (11)
Speaking of torture . . .
2014/12/14
Permanent Link | Comments (15)
John Cochrane on modern macro
2014/12/12
Permanent Link | Comments (14)
War on crime? Or war on the poor?
2014/12/09
Permanent Link | Comments (22)
Why debates over inflation are pointless
2014/12/07
Permanent Link | Comments (54)
What (if anything) can we learn from 1921?
2014/12/05
Permanent Link | Comments (15)
Bloggers >>>>>>>>>> Central banks
2014/12/04
Permanent Link | Comments (8)
Brad DeLong poses two questions about NGDP targeting
2014/12/02
Permanent Link | Comments (9)
The IMF hits a new low
2014/12/01
Permanent Link | Comments (8)
Falling oil prices have no implications for global growth. Oil production does
2014/11/30
Permanent Link | Comments (18)
Neo-Fisherism converges on market monetarism
2014/11/28
Permanent Link | Comments (2)
The Piketty Path to Riches
2014/11/27
Permanent Link | Comments (5)
A few thoughts on free banking
2014/11/25
Permanent Link | Comments (29)
Why America can't have small government (and China can)
2014/11/25
Permanent Link | Comments (16)
The smart against the dumb: The new Cold War
2014/11/22
Permanent Link | Comments (31)
Sticky wages and sticky fed funds rates
2014/11/18
Permanent Link | Comments (9)
No, low interest rates do not call for more public investment
2014/11/16
Permanent Link | Comments (18)
I'm not "the NGDP guy"
2014/11/15
Permanent Link | Comments (16)
The silence of the lambs
2014/11/15
Permanent Link | Comments (31)
Worse than a crime, it was a blunder: A pragmatic case for honesty
2014/11/13
Permanent Link | Comments (13)
The "War on Drugs" and crime rates
2014/11/11
Permanent Link | Comments (13)
Is George Selgin defending Keynes on liquidity traps?
2014/11/11
Permanent Link | Comments (17)
The problem of population
2014/11/09
Permanent Link | Comments (19)
An odd incident in modern liberalism
2014/11/08
Permanent Link | Comments (14)
How Europe did a "1937"
2014/11/07
Permanent Link | Comments (8)
Low interest rates do not cause low inflation, or high inflation
2014/11/05
Permanent Link | Comments (10)
The "it doesn't matter" theories
2014/11/04
Permanent Link | Comments (10)
For some strange reason Keynes and Hayek caused the Great Recession
2014/11/02
Permanent Link | Comments (14)
Supply and demand-side stagnation
2014/10/30
Permanent Link | Comments (24)
The ECB has an inflation target. How do the Germans propose they hit it?
2014/10/26
Permanent Link | Comments (20)
My naivete about government officials
2014/10/25
Permanent Link | Comments (17)
The great sin, the even greater sin, and the enlightened path
2014/10/23
Permanent Link | Comments (21)
Did the Bush tax rebates actually work?
2014/10/22
Permanent Link | Comments (7)
Nominal GDP is not real (and is really tiny)
2014/10/20
Permanent Link | Comments (23)
Housing and poverty
2014/10/17
Permanent Link | Comments (15)
It's the economy, stupid
2014/10/16
Permanent Link | Comments (17)
You know you're in trouble when even the Italians forget how to inflate
2014/10/14
Permanent Link | Comments (22)
No hawks or doves, just owls
2014/10/12
Permanent Link | Comments (15)
Economics is symmetrical
2014/10/10
Permanent Link | Comments (27)
A certain laxity in word choice
2014/10/08
Permanent Link | Comments (22)
Words and meaning (good theft and bad)
2014/10/07
Permanent Link | Comments (42)
Currency and lotteries: Is there a free lunch?
2014/10/04
Permanent Link | Comments (9)
Still no free lunch
2014/10/03
Permanent Link | Comments (9)
Flying blind
2014/09/30
Permanent Link | Comments (12)
Don't jump to conclusions (markets are smarter than you or I)
2014/09/28
Permanent Link | Comments (21)
What kind of Great Stagnation?
2014/09/27
Permanent Link | Comments (25)
Is the middle class being "squeezed?"
2014/09/26
Permanent Link | Comments (26)
Canadian success
2014/09/23
Permanent Link | Comments (15)
The Key to victory: Run against Piketty-nomics
2014/09/22
Permanent Link | Comments (14)
There is nothing tautological about market monetarism
2014/09/21
Permanent Link | Comments (17)
What's wrong with Hong Kong? (Too much government)
2014/09/20
Permanent Link | Comments (25)
Inequality in education
2014/09/19
Permanent Link | Comments (15)
Once again, tight money is the Achilles heel of the right
2014/09/16
Permanent Link | Comments (10)
Ending slavery made America richer
2014/09/13
Permanent Link | Comments (22)
The Closing of the Liberal Mind (pt. 2)
2014/09/12
Permanent Link | Comments (21)
Lorenzo on the opponents of neoliberalism
2014/09/10
Permanent Link | Comments (17)
The Wall Street Journal must think Milton Friedman was a Keynesian
2014/09/09
Permanent Link | Comments (9)
Is deflation bad?
2014/09/08
Permanent Link | Comments (8)
Never reason from a wage change
2014/09/07
Permanent Link | Comments (4)
Four things I believe
2014/09/05
Permanent Link | Comments (11)
Predicting bubbles
2014/09/01
Permanent Link | Comments (19)
Intellectual decay
2014/08/28
Permanent Link | Comments (36)
Mr. Bernanke vs. the Structuralists
2014/08/26
Permanent Link | Comments (10)
Never reason from a bond price change
2014/08/24
Permanent Link | Comments (8)
Nominal GDP targeting in developing countries
2014/08/23
Permanent Link | Comments (8)
When supply is demand
2014/08/19
Permanent Link | Comments (13)
Grade deflation, grade illusion, and academic depressions
2014/08/17
Permanent Link | Comments (12)
Never reason from a price change, even in Japan
2014/08/15
Permanent Link | Comments (18)
Tyler Cowen on ECB policy
2014/08/14
Permanent Link | Comments (13)
Jonathan Chait's bizarre idea of an honest poll
2014/08/13
Permanent Link | Comments (22)
The economy is more subtle and complex than you might assume
2014/08/11
Permanent Link | Comments (13)
The power of wishful thinking?
2014/08/10
Permanent Link | Comments (5)
When the straightforward interpretation seems crazy
2014/08/09
Permanent Link | Comments (16)
Charles Cooke's lame dismissal of left wing nerds
2014/08/06
Permanent Link | Comments (33)
Economics: Truer than it seems
2014/08/04
Permanent Link | Comments (12)
If something can't go on forever, it will
2014/08/02
Permanent Link | Comments (25)
Wolfers on the fiscal consensus
2014/07/30
Permanent Link | Comments (16)
"Helicopter drops" are a bad idea at any time
2014/07/28
Permanent Link | Comments (19)
I feel pain therefore I am (a utilitarian)
2014/07/27
Permanent Link | Comments (47)
Nick Rowe on fiscal policy (and reply to Caplan)
2014/07/24
Permanent Link | Comments (19)
Beyond left and right
2014/07/23
Permanent Link | Comments (19)
A few notes on utilitarianism
2014/07/21
Permanent Link | Comments (25)
The wisdom of Cass Sunstein
2014/07/19
Permanent Link | Comments (20)
Economics is all about consumption
2014/07/18
Permanent Link | Comments (20)
AD: Eleven stages of enlightenment
2014/07/17
Permanent Link | Comments (14)
Governments don't create problems, they solve problems
2014/07/15
Permanent Link | Comments (8)
Philip Booth on Thomas Piketty
2014/07/14
Permanent Link | Comments (2)
There are two kinds of people . . .
2014/07/10
Permanent Link | Comments (13)
Why no Kansas miracle?
2014/07/07
Permanent Link | Comments (24)
What about Asia?
2014/07/03
Permanent Link | Comments (17)
Mr. Krugman's peculiar post
2014/07/02
Permanent Link | Comments (19)
When is nominal GDP targeting optimal?
2014/06/28
Permanent Link | Comments (13)
Piketty on "merit"
2014/06/26
Permanent Link | Comments (25)
Unpersuaded
2014/06/23
Permanent Link | Comments (27)
The Fed at 100: A century of procyclical policy
2014/06/20
Permanent Link | Comments (10)
What does 1933-80 tell us about banking regulation?
2014/06/17
Permanent Link | Comments (7)
Fiscally inefficient monetary policy
2014/06/13
Permanent Link | Comments (8)
Never reason from an interest rate change
2014/06/11
Permanent Link | Comments (10)
Liberalism unbound: Free lunch and dinner--all you can eat!
2014/06/10
Permanent Link | Comments (23)
Obama is to the right of Texas on pot legalization
2014/06/07
Permanent Link | Comments (30)
The First Fundamental Law of Capitalism
2014/06/06
Permanent Link | Comments (9)
Private affluence, public squalor, high taxes
2014/06/04
Permanent Link | Comments (21)
Piketty on Kuznets
2014/06/02
Permanent Link | Comments (11)
Can we have confidence in our opinions on immigration?
2014/05/30
Permanent Link | Comments (21)
Inflation targeting: It's even worse than you thought
2014/05/28
Permanent Link | Comments (11)
The goal of monetary stimulus is to boost saving
2014/05/26
Permanent Link | Comments (35)
Basketball teams compete with each other. Basketball team companies cooperate, as they should.
2014/05/23
Permanent Link | Comments (15)
The middle class is doing fine
2014/05/21
Permanent Link | Comments (13)
Has Medicaid succeeded?
2014/05/18
Permanent Link | Comments (18)
What is monetary policy?
2014/05/16
Permanent Link | Comments (0)
Rational expectations doesn't require smart people
2014/05/14
Permanent Link | Comments (11)
Never debate the impact of a price change
2014/05/13
Permanent Link | Comments (5)
The paradoxes of applying nationalism to immigration
2014/05/11
Permanent Link | Comments (21)
When ideologies change
2014/05/07
Permanent Link | Comments (19)
The economy should be "left alone to sort things out" during a recession
2014/05/05
Permanent Link | Comments (17)
The correct reason to oppose high MTRs
2014/05/02
Permanent Link | Comments (19)
Is it OK to reason from a (aggregate) wage change?
2014/04/30
Permanent Link | Comments (4)
A pragmatic view of causation
2014/04/26
Permanent Link | Comments (20)
There's only one sensible way to measure economic inequality
2014/04/24
Permanent Link | Comments (37)
German success is surprisingly recent
2014/04/22
Permanent Link | Comments (15)
Why the EMH is truer than supply and demand
2014/04/21
Permanent Link | Comments (19)
Quantum finance
2014/04/19
Permanent Link | Comments (19)
Bad news; industrial production is soaring
2014/04/17
Permanent Link | Comments (10)
Larry Summers is persuasive
2014/04/16
Permanent Link | Comments (25)
Germany's mysterious recovery
2014/04/14
Permanent Link | Comments (13)
Inequality among doctors
2014/04/10
Permanent Link | Comments (13)
Never reason from an inflation rate change
2014/04/07
Permanent Link | Comments (20)
What we are up against
2014/04/05
Permanent Link | Comments (9)
Marshall's scissors and the Law of Reflux
2014/04/02
Permanent Link | Comments (6)
One multiplier to rule them all! (apologies to Nick Rowe)
2014/03/31
Permanent Link | Comments (5)
Fracking boom won't create many manufacturing jobs
2014/03/29
Permanent Link | Comments (10)
Central banks do not deserve our respect
2014/03/27
Permanent Link | Comments (10)
Adding a risk mandate: A 5 bumper shot in billiards?
2014/03/26
Permanent Link | Comments (9)
Endless bubbles?
2014/03/24
Permanent Link | Comments (22)
Are ZMP workers uneducated or unmotivated?
2014/03/22
Permanent Link | Comments (21)
Why we debate the unimportant issues
2014/03/20
Permanent Link | Comments (35)
The Legacy of Milton Friedman
2014/03/18
Permanent Link | Comments (22)
How the interest rate increase of 2015 caused the Great Recession
2014/03/13
Permanent Link | Comments (16)
Economics must be harder than it looks
2014/03/11
Permanent Link | Comments (23)
The old rules still apply (What the rest of the profession could learn from Ben Bernanke)
2014/03/10
Permanent Link | Comments (18)
Krugman slides deeper into old Keynesianism
2014/03/06
Permanent Link | Comments (6)
Unemployment was 9.0% in May 1975, and money was too easy
2014/03/06
Permanent Link | Comments (11)
NGDP targeting is not a "fragile" policy
2014/03/05
Permanent Link | Comments (25)
Is Abenomics working?
2014/03/03
Permanent Link | Comments (14)
The mysterious rise in youth unemployment
2014/03/01
Permanent Link | Comments (20)
Does happiness cause income?
2014/02/27
Permanent Link | Comments (18)
Williamson pulls rank on Yglesias
2014/02/26
Permanent Link | Comments (11)
Australia's auto industry collapses as America's booms
2014/02/25
Permanent Link | Comments (17)
Was Mishkin the Benjamin Strong of 2008?
2014/02/24
Permanent Link | Comments (6)
The Keynesian information bubble
2014/02/23
Permanent Link | Comments (32)
The 2008 transcripts: The real issues
2014/02/22
Permanent Link | Comments (21)
Bastiat just rolled over in his grave
2014/02/18
Permanent Link | Comments (30)
In the 1930s it seemed "obvious" that financial turmoil had caused the Great Depression
2014/02/17
Permanent Link | Comments (19)
Questions that have no answer
2014/02/15
Permanent Link | Comments (11)
Krugman and Gruber are deeply confused about "voluntary" job losses
2014/02/15
Permanent Link | Comments (12)
Never reason from a price change, example #305
2014/02/14
Permanent Link | Comments (11)
Immaculate inflation and immaculate growth
2014/02/13
Permanent Link | Comments (7)
Why do booms feel good?
2014/02/10
Permanent Link | Comments (24)
OK, now I'm really confused (the snake and the peg)
2014/02/07
Permanent Link | Comments (12)
The ECB is steering the economy (plus a survey of nautical metaphors)
2014/02/04
Permanent Link | Comments (23)
Where the Stress Falls
2014/02/02
Permanent Link | Comments (3)
Keynesian confirmation bias
2014/01/30
Permanent Link | Comments (11)
Why so glum?
2014/01/28
Permanent Link | Comments (16)
Chinese families move from nice neighborhoods to slums, for the schools.
2014/01/27
Permanent Link | Comments (15)
NGDP isn't "the economy"
2014/01/25
Permanent Link | Comments (24)
Don't expect too much from inflation
2014/01/23
Permanent Link | Comments (9)
Imagine there's no economic inequality
2014/01/20
Permanent Link | Comments (25)
Eighty years later and the results are the same
2014/01/17
Permanent Link | Comments (5)
Why are Keynesians so far-sighted?
2014/01/14
Permanent Link | Comments (17)
Do barriers create "bubbles?"
2014/01/12
Permanent Link | Comments (25)
Market monetarism in 2013
2014/01/10
Permanent Link | Comments (7)
Summers believes we can reduce bubbles with big budget deficits.
2014/01/07
Permanent Link | Comments (16)
Another disappointing reaction to The Great Market Monetarist Experiment
2014/01/04
Permanent Link | Comments (24)
Keynesianism: It's not just resting
2014/01/03
Permanent Link | Comments (43)
Don't follow the money
2014/01/01
Permanent Link | Comments (50)

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