Negative interest rates are not sufficient

In a post published last month, we saw Tom Palley and this blogger getting it mostly right about how pre-Keynesian thinking was impairing policymakers’ ability to see beyond interest-rate policy when dealing with less-than-perfect growth and job creation. (Yields on many government bonds are now below zero.) Those who read Palley’s article will remember that

08 Aug 2016

Update: Viewing the interactive CDFs on this site

We posted about efforts to test the visibility of embedded interactive CDF content on our site in a post of a few days ago. After some additional work, we are releasing a new page dedicated to tips on ways you can view these CDFs, including recommended browser programs, etc. We hope the new page is helpful to

03 Aug 2016

CDF Update: technical improvements to interactive dynamical systems

We can now update our earlier reports about our work to improve the visibility and functionality of our embedded Wolfram CDF content for you, the viewer. We have worked on JavaScript embedding code and believe we have managed to improve the visibility of the CDF below in Internet Explorer (IE download page). Earlier versions of

26 Jul 2016

The world of NIRP

We have entered the era of negative interest rates, with over $11 trillion in sovereign bonds now paying such rates. This situation results in part from deliberate actions of central banks around the world to deal with deflationary conditions. Tom Palley criticizes negative interest rate policy (NIRP) as a macro policy in a new paper

01 Jul 2016

CDF up-date: A new interactive dynamical system with government debt

First, a return to the topic of functionality of CDFs on this site. (CDFs come in two forms: web-embedded and downloadable, free-standing files.) In performing maintenance on this blog, I have taken down an embedded jumbo CDF that was not running with the Firefox browser. Experimentation with other browsers indicate that some cannot at present

27 Jun 2016

More on decision amidst crisis

Yesterday, I mentioned and linked to a 2015 piece by Yanis Varoufakis clearing outlining how monetary union had inevitably wrought terrible economic destruction in the eurozone. The article argued that nonetheless Europe should be reluctant to abandon the European project. As the UK votes, a post by Mark Weisbrot of the Center for Economic Policy

23 Jun 2016

New links on tastes, Europe’s crisis, and more

“What It Is Like to Like”: Louis Menand in the New Yorker on tastes. Economists have differing views in their importance as determinants of prices over the long run. Crude models used by mainstream economists generally hold “tastes” (preferences that govern purchases) constant as other variables are allowed to move. Institutionalists and post-Keynesian economists have

22 Jun 2016

NOAA data show relentless rise of temperatures continues

The US weather agency provides a neat time series of global temperature with each line showing a calendar year’s worth of observations. The lines show a steady upward march. Hat tip: Union of Concerned Scientists Equation blog A note: rising temperatures provide a ecological challenge to humankind that is perhaps unprecedented. Yet there is cause

20 Jun 2016

Some ideas from a long weekend trip

In my previous post, I mentioned that I attended a college alumni weekend recently. The weekend did not lack events relevant to readers of this economics and economic policy blog. The event—at Swarthmore, a small liberal arts college located near Philadelphia, featured among other things a ceremony in honor of several retiring professors. No economists

10 Jun 2016
theme by teslathemes