In my last post I argued that nominal GDP targeting does not depend on bank lending to work.  Instead, its success depends on the Fed usin...

The Economist magazine has a new article on the rising popularity of Market Monetarism, MMT, and Austrian economics.  The article notes th...

Arpit Gupta pushes back on my post about why safe assets matter.  He invokes Jeffrey Friedman and Vladimar Kraus' argument that impli...

I was looking at some employment data and was reminded of this figure: This figure shows that construction employment reached a peak ...

Are all the problems in the U.S. economy nominal?  Robert Gordon implicitly says no in a new paper on the long-run outlook for U.S. produc...

As a follow up to my earlier piece on the shortage of safe assets, I direct you to Rebecca Wilder's post where she documents the broa...

The FT interviews Jan Hatzius of Goldman Sachs and spends time discussing, among other things, the Fed adopting a nominal GDP level target...