On marking to market and risk management

Two more thoughts: 1) In the SBV debacle, many of my colleagues and friends jump to the conclusion, we should just mark all assets to marke...

Small bank thoughts

 Three small thoughts.  1) There is much commentary that bank troubles will interfere with the Fed's plan to lower inflation by raising...

How many banks are in danger?

With amazing speed and impeccable timing, Erica Jiang, Gregor Matvos, Tomasz Piskorski, and Amit Seru analyze how exposed the rest of the b...

Silicon Valley Bank Blinders

The Silicon Valley Bank failure strikes me as a colossal failure of bank regulation, and instructive on how rotten the whole edifice is. I w...

Economic Journal Home Bias

Home Bias in Economics Journals  is an interesting new paper by Dirk Bethmann, Felix Bransch, Michael Kvasnicka, and Abdolkarim Sadrieh (via...

Fair tax full text

From the  Wall Street Journal Feb 2. After 30 days I can post full text.  A Consumption Tax Is the Shock Our Broken System Needs Somethin...

Lessons from Sargent and Leeper

At the AEI fiscal theory event last Tuesday Tom Sargent and Eric Leeper made some key points about the current situation, with reference to...