Anglonoise

If you are like many Americans and an increasing number of economic and financial analysts, you have come, or are coming, to the conclusion that the Federal Open Market Committee’s (FOMC’s) zero…

A few times a year NYU econ graduate students organize a "beer and economics" meeting where they eat (pizza) drink (beer) and listen to a faculty member they invite. A few days ago it was my turn, for…

Some days ago Bernanke published the third piece in the series, where he begins to outline his explanation of why interest rates are so low. Not surprisingly, his first suspect turns out to be "Global…

I take up the second part of Ben Bernanke's analysis of why interest rates are so low. He rejects the "secular stagnation" hypothesis advanced, among other, by Larry Summers (see here for more…

I have been thinking at the question in the title for a while, unable to find a convicing answer. Today I discovered that Ben Bernanke believes has an answer, which serves, if I do not read it wrong,…

Why does old-fashioned Keynesianism, despite its empirical and intellectual failure, continue to grip the imagination of so many intelligent people?

Retrospective insights on Jean Tirole as the exemplar of "MIT Theory"

My teacher Stan Reiter passed away back in August. Stan was one of the most important figures in the development of mathematical economic theory in the 20th century but I remember him most for his…

Ieri è mancato Gary Becker. Gli dobbiamo moltissimo, intellettualmente, professionalmente e personalmente. Gli vogliamo molto bene. Il ricordo che segue è molto personale, frammentato, e incoerente -…

A few times a year NYU econ graduate students organize a "beer and economics" meeting where they eat (pizza) drink (beer) and listen to a faculty member they invite. A few days ago it was my turn. Not…