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NGDP level targeting and the Fed’s mandate
Renee Haltom has an interesting article in the recent edition of Richmond’s Fed’s magazine Region Focus on “Would a LITTLE inflation produce a BIGGER recover?”. Renee among other things discusses NGDP...
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Mankiw rule tells the Fed to tighten
The most famous monetary policy rule undoubtedly is the so-called Taylor rule, which basically tells monetary policy makers to set the key monetary policy interest rates as a function of on the one...
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The Mankiw-Darda rule tells the Fed to wait a bit with hikes
Greg Mankiw has a blog post commenting on my previous post on the so-called Mankiw rule. I show in my post that according to both the original and a re-estimated version of the Mankiw rule the Federal...
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There is no bond market bubble
Bubbles, bubbles, everywhere bubbles. There is a lot of talk about bubbles among commentators and central bankers. One of the most common bubble fears is a fear of a bubble in the US bond market (just...
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