Central banks should pursue simpler, less costly and more effective policies. If policymakers want higher spending, they should transfer cash directly to households.
Some advocates of helicopter drops have arg...
Harvard Business Review, January 2015
With Mark Blyth: governments should exploit the excess return of equities over bonds to buy assets for 80% of the population
Read on......
This way of framing the problem also provides an administrative alternative for the ECB to effect cash transfers. Rather than posting checks to households, it could launch an ATLTRO - a TLTRO for all. Under thi...
We need more cash, not less.
Many economists just assume that central banks have hit “the zero bound” on interest rates and that conventional policy is thereby exhausted. Take Ken Rogoff’s bizarre proposal as a...
In Foreign Affairs, Mark Blyth and I map out a plan to end recessions and broaden equity ownership - without raising taxes. Read the full article here....
Talk at the IIEA in Dublin: Can QE save the Eurozone?
About the Speech:
In this address, Eric Lonergan clarified the distinction between monetary and fiscal policy and demonstrated how European institutio...