Prof. Blanchard Gets It Wrong — Again
Prof. Olivier Blanchard (of M.I.T., currently at the I.M.F.) has a long history of getting it wrong when it comes to macroeconomic policy. His most recent pronouncement, unfortunately, continues this...
View ArticleUse Market Data to Measure Expected Inflation
Introduction Economists take it for granted that everyone knows the definition of the real interest rate: r = i – p where i is the nominal interest rate and p is the inflation rate. The real interest...
View ArticlePaul Krugman: Return Your Nobel Prize
Bernanke In Space I call on Paul Krugman: return his Nobel Prize in economics. My request is based on his article in the April 29 New York Times magazine. Titled “Earth to Ben Bernanke,” the article...
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