Blog - Philosophy of Money

Macro policy proposals – immediacy is the metric

2nd April 2020

Austerity, Helicopter Money, Monetary Policy, Uncategorised

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...

How long secular stability?

Eric Lonergan

29th January 2020

Economic History, Finance & Asset Pricing, Monetary Policy

8

Economics is a curious field of study. For a subject that focuses so much on rational behaviour it is distinctly human. The tribalism borders on parody - post-keynesians, new keynesians, liberal, conservative, ...

Draghi’s historic farewell

Eric Lonergan

15th September 2019

Helicopter Money, Monetary Policy, Money in Europe

6

This week’s policy decision by ECB is historic. For some time now, a number of economists have suggested that dual interest rates are the logical next step in the arsenal of central banks. Dual interest rates r...

Reply to Larry Summers

Eric Lonergan

26th August 2019

Finance & Asset Pricing, Helicopter Money, Monetary Policy

3

An ‘Either-Or’ approach to fiscal and monetary policy is mistaken Larry Summers has delivered a pointed and sweeping critique of the prevailing consensus among central bankers. He rightly asserts that relian...

The Prudence Principle: a new rule for fiscal policy

Eric Lonergan

23rd August 2019

Helicopter Money, Monetary Policy, Money in Europe, Theory & Other Problems

Should the government run a budget deficit or a budget surplus? What size should the deficit or surplus be? Devising a rule which allows the public to assess the integrity of government is a major challenge...

Japan debt monetisation (2012)

Eric Lonergan

12th August 2019

Uncategorised

Drobny 2012 Japan...

Cyclical sovereignty

Eric Lonergan

26th July 2019

Media, Monetary Policy, Money in Europe

2

Only two of the world’s major economic blocks appear to have cyclical autonomy - China and the United States. For many decades now, Japan’s ability to stimulate domestic demand has been trivial relative to cycl...

The most important social scientist since Keynes

Eric Lonergan

5th July 2019

Theory & Other Problems

2

Three validity claims The German social scientist, Jürgen Habermas, has just turned ninety. It is an odd reflection on our times that he is not renowned. In an age of academic specialisation this may reflect o...

Dual interest rates always work

Eric Lonergan

5th June 2019

Helicopter Money, Monetary Policy, Money in Europe

6

The future of monetary policy - Dual interest rates The significance of dual interest rates remains under-appreciated. The European Central Bank, Bank of Japan, and the Bank of England’s facilities are by fa...

Macro policy proposals – immediacy is the metric

Policy response

How long secular stability?

Draghi’s historic farewell

Reply to Larry Summers

The Prudence Principle: a new rule for fiscal policy

Japan debt monetisation (2012)

Cyclical sovereignty

The most important social scientist since Keynes

Dual interest rates always work

Reviews of Eric’s book

CNBC: market sell-off is ‘noise’

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