Benefits and risks of a great trade surplus
From time to time, some politicians (who care about their votes) bring up trade imbalances as a problem. You might […]
Quantitative easing
What is Quantitative Easing? Quantitative easing (QE) is a monetary policy tool employed by central banks to stimulate economic activity,
Inflation expectations trap
When you expect rising inflation, so you spend now instead of tomorrow, and other people know that you spent today
Debt deflation
Imagine all prices were to fall. Your income now buys an extra week worth of widgets, and everyone is better
Structural reforms
Households and firms do not operate in a vacuum. Everyone has to play within a structure of rules, conventions, and
Why inflation feels higher than the official number
It’s the economy, stupid! Inflation feels higher than the official number because humans are imperfect status seeking social animals, and
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Debt and taxes, should we care about their mix?
What is the optimal mix of debt and taxes, and does it matter? I believe that absent of extreme cases,
Chinese public debt
China is often held to be a model of economic growth, and by some to be worthy of emulation. Looking
The German Economy: It’s fine
I believe that recent allegations of an ailing German economy are overblown to fabricate fear and attention. The political cycle