Technically speaking. Update, 4/6: Or maybe it is.
Author Archives: Menzie Chinn
The BoJ’s Kuroda Acts
From Reuters:
Wisconsin, and Her Neighbors: Philadelphia Fed Coincident Indices
From the MacIver Institute, “The Free Market Voice of Wisconsin”:
Teaching Mundell-Fleming, Interest Rate Parity, and the LM Curve
Simon Wren-Lewis’s post has sparked vigorous discussion [1] [2] (and rejoinder) of whether the teaching of Mundell-Fleming, omitting uncovered interest parity, to our undergraduate students is defensible. In addition, he wonders whether it makes sense to use an LM curve, given the absence of a stable money demand curve, and the fact that most advanced country central banks target a policy rate. I think these are good questions for teachers, as well as those who provide advice regarding policy measures.
Guest Contribution: “Is the Federal Reserve Breeding the Next Financial Crisis?”
Today, we are fortunate to have a guest contribution by Ambrogio Cesa-Bianchi and Alessandro Rebucci. It is based upon Does Easing Monetary Policy Increase Financial Instability?. The views expressed in this column are the authors’ and not necessarily those of the institutions with which they are affiliated.
Reflation and Expenditure Switching in a Two Speed World
Wisconsin Employment: Still Lagging despite Upward Revisions
Earlier this week, the BLS released new estimates of state employment, based upon Quarterly Census of Employment and Wages (QCEW) data through September 2012. The figures for Wisconsin have been substantially revised upward. As indicated in previous posts [1] [2] , census data had indicated substantially higher nonfarm payroll employment than that derived from surveys.
Heritage on Seasonal Adjustment
Is February employment growth overstated due to statistical problems?
Iraq Metrics, Ten Years After
We should not forget what costs we incurred in search of weapons of mass destruction.
“Building U.S. Competitiveness”
The Economic Report of the President, 2013, released last Friday, devotes some attention to global rebalancing, a topic that I’ve addressed on a number of occasions. [1] [2]; and this paper. Exchange rate movements are critical, but so too are productivity and wage movements.