Inflation? Inflation!

inflation always monetary? - mainstream and hetero theories of inflation, how to measure inflation - decompose observed inflation into its monetary, demand-pull, cost-push and structural components - Inflation is a monetary and redistributional phenomenon

The Nobel Poor

One reason to celebrate this year's prize is that it went to a woman, albeit shared with two men. Professor Duflo is only the second ever female economist to get the chance to feel humbled by this ultimate gong. The first was Elinor Ostrom in 2009. Funnily enough, history may well judge Ostrom's work on … Continue reading The Nobel Poor

QE5: QE farce wants to be Mousetrap

The “hell-has-no-fury like a creditor financially-repressed” farce continues, apparently intent on outdoing the London Mousetrap with this stubborn repeat of the ancient tragedy of debtors versus creditors ? Or as bloomberg puts it "Anti-Draghi Revolt at ECB Still Won't Die." The FT tells us that the bank’s “…monetary policy committee … advised against resuming its bond purchases. … (and … Continue reading QE5: QE farce wants to be Mousetrap

QE4: Q.E.[Qd] = E.Q.[Qs]

According to my usually in-the-know Berlin banking contact, some IMF mega-brains have come up with a cunning plan to help their departing boss with her new job. It's being tested in Washington right now and Ms Legarde will try and sell it to the Berlin Elite in November. It comes with a brand new acronym : … Continue reading QE4: Q.E.[Qd] = E.Q.[Qs]