Monthly Archives: January 2014
Monetary Policy During Ben Bernanke’s Time at the Fed
Like many monetary economists, I’ve recently been approached by reporters and commentators to say a few words about monetary policy during Ben Bernanke’s time at the Fed. Back in December the Washington Bureau of the Wall Street Journal asked me … Continue reading
Posted in Monetary Policy
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First Principles Versus Secular Stagnation
With real GDP and employment data now in for all of 2013, the recovery still looks about as weak as ever. Sure, it’s good news that growth picked up again in the 3rd and 4th quarter, but the three updated … Continue reading
The Great Global Unwinding
If there is a common factor in the recent global market turbulence it is the inevitable unwinding of unconventional US monetary policy. Evidence for this connection appeared last May and June when the Fed started talking about tapering, and it … Continue reading
Valuable Dissent to the Transportation Research Board’s Special Stimulus Report
This past week the Transportation Research Board released its Special Report from the “Committee on Economic and Employment Benefits of Transportation Investments in Response to Economic Downturns.” The report evaluated the 2009 stimulus and in particular the part of the stimulus … Continue reading
Posted in Stimulus Impact
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Will the Real “Secular Stagnation Thesis” Please Stand Up
Last Thursday I published an oped in the Wall Street Journal criticizing the new “secular stagnation” view as put forth by Larry Summers in a talk at an IMF conference in November. The topic was also the focus of debate at … Continue reading
Posted in Slow Recovery
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Economics One 