Archive for June 6th, 2012

In Bank of Israel targeting NGDP?

June 6, 2012

Scott Sumner ahs not really seen this so far.

Evan Soltas points to couple of interesting charts showing BoI under Stan Fisher seems to be targeting NGDP (HT: WSJ Blog).



Paul Krugman: I’m sick of being Cassandra. I’d like to win for once..

June 6, 2012

Another interview of Paul Krugman.

Many of these interviews are coming as he promotes his book – End this Depression now:


UADPhilEcon – PhD program in economics at the University of Athens

June 6, 2012

Yesterday, I had posted about Yanis Varoufakis and his attempt to reform Phd Economics program at Univ of Athens.

I got hold of the paper where he presented his ideas about the Phd Prog (called UADPhilEcon).

He begins with a quote which applies to economics higehr teaching:


Could the United States Have Had a Better Central bank?

June 6, 2012

A nice  paper by Michael Bordo. There are very few who can do more justice to such papers than Bordo.

He looks at history of Fed from two counterfactuals:

  • First what if Second Bank of US had survived and continued as a central bank?
  • Second, what if the current Fed was modeled on the original plan laid in 1910 by Warbug?

In both the cases, US would have been better off. Of course, if first continued case for second would not have been there.


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