Category Archives: Uncategorized

9/11/2001 and the 18 Years Since Then

Today we remember September 11, 2001 and all that has happened in the 18 years since then. I was in a hotel room in Tokyo when the first plane hit the World Trade Center, recently sworn in as Under Secretary … Continue reading

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Economics 1: Now More Important Than Ever

Two weeks from today, I start teaching Economics 1, Stanford’s introductory economics course, and the namesake of this blog and my twitter account.   I am looking forward to it, and for the same three reasons that I gave years ago … Continue reading

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Choice of IMF Managing Director Should Reflect 75 Years of Change

Last week Raghu Rajan and I coauthored an article for the Financial Times. We argued that the IMF should no longer continue the tradition that the Managing Director of the International Monetary Fund be a European. Instead, it should “break … Continue reading

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A Revival of Research on Monetary Policy Rules for the Instruments

Recently I had the opportunity to participate in several conferences on monetary policy: the annual Hoover monetary policy conference at Stanford in May, the 2019 Fed Review conference in Chicago in June, and the Macro Model Comparison Conference in Frankfurt … Continue reading

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Currencies, Capital, Central Bank Balances — 5th in a Series

The most recent book, Currencies, Capital, and Central Bank Balances, in a series on monetary policy has just been published. As the line-up of covers below shows, it is the 5th in a series of volumes emerging from conferences on … Continue reading

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17 Years of Economic and Security Challenges

Today we remember September 11, 2001 and all that has changed in the past 17 years. In his speech today at Shanksville President Trump was right to speak of incredible security challenges and sacrifices: “Since September 11th, nearly 5.5 million … Continue reading

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Economics 1 Online. Summer 2018. Free.

This summer we will again offer Stanford’s Principles of Economics course online for free.  You can register now for the course on Stanford’s open on-line platform Lagunita. We will start on Monday June 25 and go through August 24. I … Continue reading

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Favorite Economics April Fools Day Jokes on Twitter

Thanks for a little humor about two of the most important economic topics of the day: monetary policy at the Fed and bankruptcy policy at Tesla. I am sure there are others, but these two are my favorites: Monetary Policy … Continue reading

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A Better Way to End Big Bank Bailouts

David Skeel and I wrote the following on an important report on bankruptcy reform just released by the U.S. Treasury: Yesterday the U.S. Treasury released its official response to President Trump’s memorandum of last April asking for a review of … Continue reading

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Macro Model Comparison Research Takes Off

Last week a new Macroeconomic Modelling and Model Comparison Network (MMCN) was launched with a research conference at Goethe University Frankfurt. Economists from the IMF, the Fed, the ECB, and other central banks presented and compared policy models along with … Continue reading

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