Prices vs. inflation and a mortgage puzzle

Mickey Levy's excellent WSJ oped  leaves some thoughts.  Inflation has fallen, though I still suspect it may get stuck around 3-4%. Bu...

Evergreen expectations

  A lovely plot from the always interesting Torsten Slok. The graph shows the actual federal funds rate, together with the path of "e...

Leonhardt on investment

 David Leonhardt's pean to investment in the Sunday NY Times Magazine starts well: A cross-country trip today typically takes more ti...

Bhattacharya on Covid censorship

A week ago Jay Bhattacharya gave a great talk at the weekly Stanford Classical Liberalism workshop. ( Link in case the embed doesn't ...

Political prisoner dilemma

This is a draft oped. It didn't make it as events in Israel are now consuming attention. But sooner or later we need to elect a presiden...

Heterogeneous Agent Fiscal Theory

Today, I'll add an entry to my occasional reviews of interesting academic papers. The paper: " Price Level and Inflation Dynamics i...