Finance & Asset Pricing Archives - Page 3 of 3

Paul Krugman is right – our models may be better than Larry’s instincts

12th January 2016

Economic History, Finance & Asset Pricing, Money in Europe, Uncategorised

The debate between Larry Summers, Brad DeLong and Paul Krugman over models and confidence is summarised excellently by Martin Sandbu. On one point, Krugman is absolutely right: there was never any reason to be ...

Tobin & the end of banking

Eric Lonergan

9th October 2015

Definitions of Money, Finance & Asset Pricing, Monetary Policy, Theory & Other Problems

21

I'm writing about this subject with some trepidation. Many economists who have entered the fray have made fools of themselves; and many who triumphantly point out their errors usually go on to make some of thei...

The wealth illusion

Eric Lonergan

24th April 2015

Finance & Asset Pricing

Is the stock market wealth effect a “wealth illusion”? In “Beyond Doughnuts” I argue that when interest rates are already low, further cuts may raise desired saving - the opposite effect to what most macro mod...

Bond bubbles, MMT, and the limits to fiscal policy

Eric Lonergan

8th April 2015

Finance & Asset Pricing, Theory & Other Problems

2

Some reflections on this discussion between Brad DeLong and Noah Smith. Most people who believe in a bond bubble hold inconsistent beliefs. A 10-year Treasury yield of 2% is obviously a bubble, right? After al...

Paul Krugman is right – our models may be better than Larry’s instincts

Tobin & the end of banking

The wealth illusion

Bond bubbles, MMT, and the limits to fiscal policy

Reviews of Eric’s book

CNBC: market sell-off is ‘noise’

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