Jeff Miron and Natalia Rigol have a provocative working paper, “Bank Failures and Output During the Great Depression.” They...
Is QE contractionary?
I ran across a fascinating blog post by Peter Stella at Vox-Eu on exit strategies and QE. Peter points out that...
Asset Pricing MOOC Open
My Coursera Asset Pricing MOOC is now open. The direct link is here – but you may need to register to see it. I...

The New-Keynesian Liquidity Trap
I just finished a draft of an academic article, “The New-Keynesian Liquidity Trap" that might be of interest...
McDonalds and the minimum wage
Recently, on a long car trip returning from a glider contest, I did something unusual among our liberal elite: I actually...
Summers withdraws
You have undoubtedly seen the news by now. Chicago Tribune, and Wall Street JournalI’m sad, actually. A Summers confirmation...
Banking news
There are two interesting tidbits of banking news in today’s (9/10/2013) papers.The Wall Street Journal has a long page...
A Chicago economist runs a central bank
Raghu Rajan celebrated his first day on the job running India’s central bank. Coverage from Financial Times and Wall Street...
Sargent online
Tom Sargent and John Stachurski go online with a fascinating web based course in quantitative economic modeling.Two...
Fed Chair
My pick for Fed chair below. I don’t have much to say on the choice between Janet Yellen and Larry Summers. Both are worthy...
Ronald Coase
Ronald Coase has died, inspiration and hope for those of us who don’t write 10 papers a year. But they have to be good ones.Two...
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