Relevant and even prescient commentary on news, politics and the economy.

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Financial Innovation and Crises

Ken Houghton notes the plural in the title, which was written not by me rather by the FRB Atlanta, which sponsored a conference of that name, hosted by David Altig…

Grass is Green, Sky is Blue, The WSJ Lies to You

Among their editorial suggestions for replacing Tim Geither as head of the New York FRB: Better choices would include …David Malpass, an economist who worked at the Reagan Treasury and…

PSA

Via Andrew Samwick at Capital Gains and Games, note that David Altig’s Macroblog is back. (Altig is now the Research Director at the FRB Atlanta; it appears he has settled…

Angry Bear writes in 2004

Housing Bubble revisited Saturday, December 11, 2004Housing Bubble, Revisited After reading Kash’s first housing post, I read the paper he cited, “Are Home Prices the Next Bubble?” (FRBNY Economic Policy…

Housing Bubble, Revisited

After reading Kash’s first housing post, I read the paper he cited, “Are Home Prices the Next Bubble?” (FRBNY Economic Policy Review, Dec 2004). While there is a lot to…

The Dollar’s Decline

…now shows signs of turning into a more broad-based decline of the dollar against a wide array of significant currencies. The following chart of FRB data illustrates. Interestingly, the Japanese…

Irrational Inflation Phobia and Unemployment in the USA

…site http://www.phil.frb.org/research-and-data/real-time-center/survey-of-professional-forecasters/data-files/ . Starting in 1946 each June and December, participants forecast economic variables including the consumer price index 6 months and 12 months after the date of the survey….

Inflation Expectations, Credibility and Paul Volcker

…haven’t been reported in the literature. The boring details after the jump. The data on forecasts are taken from the Livingston web site http://www.phil.frb.org/research-and-data/real-time-center/survey-of-professional-forecasters/data-files/ . Starting in 1946 each June…