Eric Lonergan, Author at Philosophy of Money

Highs & lows of economics: Kilkenny, crypto, and inflation

13th November 2022

Austerity, Climate policy, Economic History, Monetary Policy, Theory & Other Problems

Economics keeps letting me down. The decade or so following the financial crisis spawned thousands of papers researching the financial system. I had a sinking feeling that none of it would help. Policy-making ...

Euro crisis II

Eric Lonergan

12th June 2022

Finance & Asset Pricing, Monetary Policy, Money in Europe

Euro crisis II has started. The good news is that we have been here before, so we have learnt some lessons, the bad news is the that the underlying challenge is far greater: Italy - the likely epicentre of th...

Pandemania

Eric Lonergan

31st January 2021

Economic History, Finance & Asset Pricing

3

When will the GameStop? It is worth reflecting on the first major panic on the New York Stock Exchange in 1901. On that occasion two magnates, James Hill and Edward Harriman, one supported by Standard Oil, the ...

QE is debt reduction

Eric Lonergan

17th January 2021

Helicopter Money, Monetary Policy, Theory & Other Problems

14

QE is not a liability transformation - it is debt reduction The remuneration of bank reserves has been a source of significant analytical confusion among economists. This arcane technicality matters far more t...

Marx has the last laugh

Eric Lonergan

26th July 2020

Economic History, Finance & Asset Pricing, Theory & Other Problems

2

I cannot think of a better interlocutor than Chris Dilow. He raises another set of interesting questions in his reply to my reply. I am in danger of completely forgetting our original divergence of thought, but...

Angrynomics: a reply to Chris Dillow

Eric Lonergan

25th July 2020

Economic History, Theory & Other Problems, Uncategorised

3

Chris Dillow writes perhaps the most interesting economics blog I know. Its scope is considerable, and despite his declaration of bias - he self-identifies as a ‘marxist’ - he is typically empirical. His recent...

Policy needs to pivot post-lockdown

Eric Lonergan

20th May 2020

Austerity, Helicopter Money, Monetary Policy, Money in Europe

1

Post-lockdown the economy will need a different kind of stimulus The role of monetary and fiscal policy during lockdown was to sustain household and corporate cashflows in the face of an intentional freezing o...

Helicopter money as Covid response

Eric Lonergan

27th April 2020

Definitions of Money, Helicopter Money, Monetary Policy, Money in Europe

Here are my slides from the Rebuilding Macro workshop on helicopter money....

Macro policy proposals – immediacy is the metric

Eric Lonergan

2nd April 2020

Austerity, Helicopter Money, Monetary Policy, Uncategorised

1

Policy response (updated) Tax rebates for corporates & households, zero interest rates on mortgage and corporate loan refinancing, no debt capital repayment, targeted lending & QE, dual rates, yield cappin...

Policy response

Eric Lonergan

11th March 2020

Monetary Policy

1

Policy response Tax rebates for corporates & households, targeted lending & QE, dual rates, yield capping in the Eurozone - there is lots that both monetary and fiscal authorities can and should do. Th...

Highs & lows of economics: Kilkenny, crypto, and inflation

Euro crisis II

Pandemania

QE is debt reduction

Marx has the last laugh

Angrynomics: a reply to Chris Dillow

Policy needs to pivot post-lockdown

Helicopter money as Covid response

Macro policy proposals – immediacy is the metric

Policy response

Reviews of Eric’s book

CNBC: market sell-off is ‘noise’

Monetary policy & babysitting: why rates are so low, and ‘what’s next?’

Author Eric Lonergan