News
Real Clear Markets | Upon Reflection, Second Thoughts On QE3
The costs to the real economy of economic policy uncertainty have recently been studied and quantified in a widely cited paper by Scott R. Baker, Nicholas Bloom, and Steven J. Davis. Baker et al. focus primarily on economic uncertainty engendered by fiscal and regulatory measures. Little, if any, attention is paid to the possibility of the negative effects of elevated uncertainty about monetary policy.
Blogs
Economist | Battle of the BOJ
It is rare in Japan for politicians to say anything meaningful enough to move markets. But in the space of a few days, Shinzo Abe, who is leading in opinion polls to become Japan’s next prime minister, has spoken so provocatively about monetary policy that it has sent the stockmarket, currency and bond markets into spasms of hope and fear.
WSJ | Bernanke: Cutting Interest Rate on Reserves to Zero Would Provide Little Stimulus
Cutting to zero the interest rate the Federal Reserve pays banks to park excess reserves on its books wouldn’t add much stimulus to the economy, Chairman Ben Bernanke said Tuesday.
