…the time when Paul Volcker’s FOMC proved that it does. This was crazy. Also the field either followed them (fresh water macroeconmics) or tried to reconcile their assumption of a…

…Chair Paul Volcker. Dem Bill Clinton reappointed GOP Alan Greenspan, and Dem Barack Obama reappointed GOP Ben Bernanke. But it is all but taken for granted that there is no…

…it does seem that he stayed in too  long and deserves some of the blame for what came later. Volcker gets lots of praise for breaking the inflation that came…

…got the 1966 Credit Crunch anyway followed by an acceleration of inflation when the FED backed off on its restraint. Reagan gave us a similar fiscal policy but the Volcker…

…for rich people in store. Brad DeLong has this silly idea that we should take modeling seriously: The rule-of-thumb is that each 1% point rise in investment as a share…

…the combination that drove up the dollar in the Reagan-Volcker years. Tax changes encouraging US corporations to repatriate their profits would unleash a wave of capital inflows, pushing up the…

…was elected (I am not asserting causation — it had more to do with Volcker). Nichols has a vague sense that the country was in bad shape in 1980 then…

…don’t subscribe to project syndicate) Rogoff (a Republican) seems to be a consistent interest rate dove Volcker (a conservadem) seems to be consistently for high interest rates. He is a…

…the early 1980s, the chairman of the US Federal Reserve, Paul Volcker, was able to choke off runaway inflation because he was afforded the autonomy necessary to implement steep interest-rate…

…optimal while criticizing it as suboptimal. This is a plain contradiction and simple error. All of the discussion of fiscal policy which is used to rule out more deficit spending…