Saturday, 18 November 2017

Monthly Archives June 2016

Macro Musings Podcast

Posted by William Luther
June 27, 2016
in Blog

If you are a fan of podcasts, let me recommend this relatively new one hosted by David Beckworth at the Mercatus Center. David’s views on the Great Recession are quite similar to those expressed by me and others on this blog. His list of guests to date includes John Taylor, John Cochrane, George Selgin, Scott […]

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Venezuela vs. Ecuador (Chavismo vs. Chavismo Dolarizado)

Posted by Steve H. Hanke
June 24, 2016
in Blog

This article appeared in the July 2016 issue of Globe Asia. With the arrival of President Hugo Chávez in 1999, Venezuela embraced Chavismo, a form of Andean socialism. In 2013, Chávez met the Grim Reaper and Nicolás Maduro assumed Chávez’ mantle. Chavismo has not been confined to Venezuela, however. A form of it has been adopted by […]

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The Fed’s policies and their consequences for Mexico

June 21, 2016
in Blog

This piece originally appeared in Market Trends By Edgar Ortiz As mentioned in a previous article, on December 16 of 2015 the Fed announced a rate hike of 0.25 percentage points and Mexico’s central bank followed suit the very next day. The decision seemed logical considering that the peso was not ceasing to depreciate and a […]

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The Fed and its dual mandate

June 20, 2016
in Blog

This piece originally appeared in Economics21 By Mickey D. Levy For over a decade, the Bernanke- and Yellen-led Federal Reserve have talked incessantly about conducting monetary policy to achieve the Fed’s dual mandate.  The unemployment rate is now 4.7%, at the Fed’s estimate of full employment.  When inflation rises to 2% by year-end, the Fed’s dual […]

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Op-ed: The age-old problem of low interest rates

Posted by Jerry Jordan
June 16, 2016
in Blog

This piece originally appeared in Forbes Earlier this year, Michael Walker of the Fraser Institute in Vancouver, Canada released a paper that deserves the attention of everyone interested in the subjects of central banking, inflation and interest rates. In it, he makes a claim that could fundamentally change our understanding of monetary economics: An aging population (think of […]

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Is gift exchange necessarily kinder, gentler?

Posted by William Luther
June 14, 2016
in Blog

In a recent Alt-M post, George Selgin calls attention to a post at The Atlantic discussing David Graeber’s gift exchange hypothesis. For those of you unfamiliar with Graeber’s book, Debt: The First 5,000 Years, the basic idea of the gift exchange hypothesis is as follows. Prior to monetary exchange economies, many societies relied on gift […]

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On the price of oil

Posted by Steve H. Hanke
June 8, 2016
in Blog

This article appeared in the June 2016 issue of Globe Asia. Since its high of almost $108/bbl in June of 2014, we have witnessed a stunning collapse in the price of oil. Indeed, in February 2016, a barrel of West Texas Intermediate (WTI) was trading at $26/bbl, a 76 percent plunge from the June 2014 highs. […]

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Op-ed: Trump’s problem with the Fed

June 6, 2016
in Blog

This piece originally appeared in The Hill  By Judy Shelton Donald Trump has a problem with the Federal Reserve. You could call it a love/hate relationship. He loves low-interest rates because, as a builder, low-cost financing enables him to develop new projects that add value to the economy. But he also thinks the zero interest rate policies […]

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IMF economists criticize “neoliberalism”

June 1, 2016
in Blog

In a recent Finance & Development piece, several IMF economists came together to criticize neoliberal reforms made by governments across the globe. Their main argument is that, “Instead of delivering growth, some neoliberal policies have increased inequality, in turn jeopardizing durable expansion.” More specifically, they criticize “capital account liberalization” and austerity reforms. These measures can […]

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