News
CNN Money | Fresh ink brings new type of currency war
Surprise! Those bills stuffed in your wallet may not have been printed by your government, or even in your country.
Econ Comments & Analysis
Market Watch | Fed's Fisher says easing to reach its limit
Dallas Federal Reserve President Richard Fisher on Tuesday urged the markets to prepare for the tapering of the Fed's quantitative-easing stimulus, though repeating that overall policy would remain loose for some time to come.
WSJ | Confessions of a Quantitative Easer
I can only say: I'm sorry, America. As a former Federal Reserve official, I was responsible for executing the centerpiece program of the Fed's first plunge into the bond-buying experiment known as quantitative easing. The central bank continues to spin QE as a tool for helping Main Street. But I've come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time.
NBER | Is The Phillips Curve Alive and Well After All? Inflation Expectations and the Missing Disinflation
We evaluate possible explanations for the absence of a persistent decline in inflation during the Great Recession and find commonly suggested explanations to be insufficient. We propose a new explanation for this puzzle within the context of a standard Phillips curve.
CATO | Low Inflation Is Not an Enemy of Prosperity
The notion that inflation is “dangerously low” is gaining ground. Harvard economist Kenneth S. Rogoff holds that “a sustained burst of moderate inflation is not something to worry about,” given the slow pace of recovery. With core inflation well below the Fed’s target of 2%, Rogoff would like to see the target temporarily lifted to 6%.
Blogs
Economist | Before the panic
Last week the IMF hosted a research conference in honour of Stanley Fischer, which generated a heaping portion of fascinating monetary-policy discussion (some of which we discuss in this week's paper).
WSJ | Three Things the ECB Should Do Beyond Cutting Rates
The European Central Bank needs to do much more beyond interest-rate cuts to ensure that excessively low inflation doesn’t keep the euro zone locked in economic stagnation far into the future.
