Author Archives: John Taylor
Investment-Unemployment Link Still On Track
When the recovery was getting started I pointed out the remarkably strong inverse relationship between fixed investment as a share of GDP and the unemployment rate, and argued that a policy that focused on getting businesses to invest more would … Continue reading
Posted in Budget & Debt
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Same Old Slow Recovery
The data released last week generated a lot of news stories, first bad ones about the GDP numbers and then good ones about the employment numbers. When you put the numbers in perspective, however, the economic story is little changed from … Continue reading
Posted in Slow Recovery
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Break the Silence on the Unemployment Problem
In his inaugural address, President Obama said that “An economic recovery has begun.” It was an applause line. The line is correct of course, but it is really nothing to applaud. As economists define it, the recovery began nearly four … Continue reading
Posted in Slow Recovery
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A Debt Limit Strategy Rather Than Tactics
The recent debate about the debt limit focuses on the negative economic impact of a decision by the government not to increase the debt limit. That’s why President Obama says he is asking for clean debt limit increase—one not linked … Continue reading
Posted in Budget & Debt
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No Debt Fix In Sight
The election is over, the fiscal cliff is over, and the problems remain. For the past several years on this blog I have been showing simple charts to monitor progress—or lack of progress—on the persistent deficit and the growing debt, … Continue reading
Posted in Budget & Debt
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Are these the shadows of the things that Will be…
. . . or are they the shadows of things that May be, only? But if the courses be departed from, the ends will change. So go back to First Principles, 102ff
Posted in Budget & Debt
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Five-Year Anniversary of the End of the Great Moderation
Five years ago this month the Great Moderation ended. To be precise December 2007 is the month that the NBER business cycle dating committee designated as the peak of the third and final expansion of the Great Moderation and the … Continue reading
Posted in Financial Crisis
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EconTalk with Charts: A New Idea Well Executed
This week Russ Roberts released the third episode in his innovative new interview series called “The Numbers Game.” The innovation is to add graphs and other visuals—and thereby helpful numerical information—to his popular podcast interview series EconTalk. The first three … Continue reading
Posted in Teaching Economics
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More Monetary Policy Uncertainty
The Fed’s announcements yesterday increase monetary policy uncertainty in two fundamental ways. Quantitative Easing on Steroids? First, the new quantitative easing announcement implies a gigantic increase in the size of the Fed’s balance sheet and thus effectively an amplification of the … Continue reading
Posted in Monetary Policy
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Recent Books to Read on Rules-Based Money
For a respite from the saga of the fiscal cliff why not read some of the latest books on monetary economics and policy? Below is a list of books on money published in 2012 which I found to be interesting … Continue reading
Posted in Monetary Policy
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Economics One 