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Theory & Other Problems

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Theory & Other Problems
bond bubbles

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...
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The “Pigou effect” is smarter than you think, and more relevant than ever

Eric Lonergan
5th April 2015
Economic History, Helicopter Money, Monetary Policy, Theory & Other Problems
6
I was taught to dismiss the Pigou effect. Arthur Cecil Pigou (or “Pig” if you believe spell-check) was a great Cambridge economic theorist, known to most of us as the object of Keynes’s repeated ridicule in the...
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Microfoundations: a brief reply to Brad

Eric Lonergan
4th April 2015
Theory & Other Problems
The question of microfoundations raised by Brad DeLong, and discussed by Simon Wren-Lewis is more relevant to the current policy failures in monetary policy than it appears. Simon, who’s blog is a breath of fre...
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We are nowhere near the zero bound

Eric Lonergan
3rd January 2015
Monetary Policy, Theory & Other Problems
1
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...
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Reviews of Eric’s book

  • Reviews of Eric’s book

    Eric Lonergan
    9th August 2014

In the press

  • CNBC: market sell-off is ‘noise’

    Eric Lonergan
    17th February 2018
  • Monetary policy & babysitting: why rates are so low, and ‘what’s next?’

    Eric Lonergan
    7th August 2016
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