Fed policy, University of San Diego style

April 4, 2012

A Fed economist for nearly two decades, San Francisco Fed President John Williams also taught for half a year at Stanford’s Business School in 2008, but on Tuesday, his students appeared to be only half listening.

Today in the euro zone

By Mike Peacock
March 13, 2012

Top billing of the day probably goes to Germany’s Merkel and Italy’s Monti meeting in Rome, though it is quite late in the day.  The Italian premier remains the austerity poster boy, in contrast to Spain’s Rajoy who was partially let off the hook by Brussels last night for abandoning his deficit target, though he was told to split the difference between the first target and his new, looser goal.

A recovery in Europe? Really?

March 8, 2012

There’s a sense of relief among European policymakers that the worst of the euro zone’s crisis appears to have passed. Olli Rehn, the EU’s top economic officials, talked this week of a “turning of the tide in the coming months”. Mario Draghi, the president of the European Central Bank, speaks of “sizeable progress” and “a reassuring picture”.

Europe’s wobbly economy

February 15, 2012

Things are  looking a bit unsteady in the euro zone’s economy.  Just ask Olli Rehn, the EU’s top economic official, who warned this week of  “risky imbalances” in 12 of the European Union’s 27 members. And that’s doesn’t include Greece, which is too wobbly for words. 

New ethics standards for economists

January 6, 2012

It seems sensible for most professions but in economics it’s nothing short of a revolution: The 17,000-strong American Economics Association has adopted a stringent new code for disclosures meant to prevent or at least highlight possible conflicts of interest.

Economics, astrology and 2012 predictions

December 30, 2011

As the usual end-of-year predictions roll in, perhaps the safest bet was captured this tweet from Bajaji Sridharan:

Channeling Milton Friedman

December 30, 2011

Ask not what your monetary policy can do for you, but what you can do for your monetary policy. That’s the jist of a 1968 paper by Milton Friedman, the poster-child for monetarist economics, entitled “The Role of Monetary Policy,” whose key questions remain hotly debated more than four decades on. Friedman’s answer is simple (some might argue too simple), and all too familiar to those who read the speeches of present-day Federal Reserve hawks – focus on the only thing monetary policy can truly control, which in Frideman’s view is price stability.

from Global Investing:

Can Eastern Europe “sweat” it?

December 20, 2011

Interesting to see that Poland wants to squeeze out more income from its state-owned enterprise (SOE) sector in the face of slowing economic growth and financing pressures.

from Ian Bremmer:

The secret to China’s boom: state capitalism

By Ian Bremmer
November 4, 2011

By Ian Bremmer
The views expressed are his own.

One of the biggest changes we’ve seen in the world since the 2008 financial crisis can be summed up in one sentence: Security is no longer the primary driver of geopolitical developments; economics is. Think about this in terms of the United States and its shifting place as the superpower of the world. Since World War II, the U.S.’s highly developed Department of Defense has ensured the security of the country and indeed, much of the free world. The private sector was, well, the private sector. In a free market economy, companies manage their own affairs, perhaps with government regulation, but not with government direction. More than sixty years on, perhaps that’s why our military is the most technologically advanced in the world while our domestic economy fails to create enough jobs and opportunities for the U.S. population.

Why this blog really is worthwhile

October 29, 2011

This blog may actually be worth the web page it is electronically printed on. A paper from the Center for Economic and Policy Research (not Dean Baker’s shop but the other CEPR, in London) discussed here at VoxEU by University of Bologna economist Paolo Manasse, finds that, at least for American economic thinkers, blogging yields high returns — even from an economists’ strictly utilitarian, efficiency-maximizing perspective.